Property Details
| Sold Price | $3,400,000 |
|---|---|
| Last Asking Price | $3,500,000 |
| Price per SqFt | — |
| Maintenance fee | Inquire |
| Property Taxes | $71,142 |
| Interior Space | — |
| Beds/Baths | —/— |
| Year Built | 1923 |
| Lot Size | 0.20 acres |
| Closed Date | 11/10/2025 |
| MLS # | A11857160 |
Estimated Costs
An estimate of condo or HOA fees and property taxes
Monthly carry is not computed when the association fee or the taxes are not provided.
From the listing
Lake Lofts is a 3-story concrete block boutique apartment building with 25 units only footsteps from Lake & Lucerne Avenues in Lake Worth Beach. The property features an attractive unit mix including one studio, 21 1BR/1BA, two 2BR/1BA and an attached house 3BR/1.5BA with a den.Lake Lofts is offered with a very attractive assumable loan featuring a 2.87% interest rate locked until June 2027. The current outstanding balance is approximately $1,850,000 and the loan has a maturity date of May 2042. The property has been historically operating near 100% occupancies with effective rents of $1,626/unit. Rents include electric, water and gas. Current market rents average $1,682/month allowing to raise rents by ~$17k/yr. A new owner can implement a value-add program for an additional $90k/yr.
Listed by CBRE, Inc.
Sales History for This Home · Listing
Sales history is unavailable for this property
Listed by CBRE, Inc.. Mark Zilbert of ONE Sotheby's International Realty is a cooperating (transaction) broker and helps buyers find properties in Lake Worth and throughout South Florida.
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