Chip Davis Acquires Lake Worth Multifamily Property For $2.6M

The multifamily property located at 605 N Federal Hwy in Lake Worth, FL has been sold in an off-market transaction. The property was recently renovated and fully occupied, making it an attractive investment opportunity. The sale was facilitated by Alexis Shapiro of ONE Commercial Real Estate, who represented both the seller, Jeff Mercier & Ed Rubio, and the buyer, Chip Davis.

Summary of transaction details

• Property Type: Multifamily
• Sale Price: $2,556,500
• Units: 14
• Price per Unit: $182,607
• Total Square Footage: 5,768
• Price per Square Foot: $443
• Address: 605 N Federal Hwy, Lake Worth, FL
• Market: Lake Worth, FL

Alexis Shapiro, from ONE Commercial Real Estate, played a crucial role in the transaction. She worked closely with the sellers throughout the renovation process, and her efforts resulted in finding a buyer for the property. The multifamily asset consists of ten (10) studios, three (3) one-bedroom units, and one (1) two-bedroom unit. Due to the hard work put in by the seller during renovations and lease-up, there was an impressive appreciation of 76.3% within a year of the original purchase.

To learn more about this transaction, you can contact Alexis Shapiro at [email protected] or 954.573.4449.