305 CYPRESS Drive # 1,2,3,4,5, Lake Park, FL 33403

Description of 305 CYPRESS Drive # 1,2,3,4,5, Lake Park, FL 33403

INCOME-PRODUCING 5-UNIT INVESTMENT PROPERTY - 100% OCCUPIED! Exceptional opportunity to acquire a fully rented, well-maintained multifamily property offering immediate cash flow and an estimated 6.5% cap rate at a $1.28M purchase price, based on current income and operating expenses. The property consists of four spacious 2-bedroom, 1-bath units plus a separate standalone cottage, providing five individual rental units and a diversified income stream. All five units are currently rented, with established tenants, allowing a new owner to begin generating income from day one. The property is owner-managed and has been meticulously maintained inside and out, with attractive landscaping and excellent curb appeal. Tenants enjoy central air conditioning and impact windows, while the property also features an on-site surveillance system for added security. With tenants currently on month-to-month agreements, a new owner has added flexibility when developing a future rental and management strategy. The property also offers potential upside through future rent adjustments as market conditions allow. Ideally located just blocks from the Intracoastal Waterway and convenient to shopping, dining, employment, and entertainment. As an additional benefit, the main roof will be replaced prior to closing, helping reduce a significant near-term capital expense for the new owner. Whether you're expanding an existing portfolio or looking for a stabilized multifamily investment with immediate rental income, this is a rare opportunity to acquire a fully occupied, income-producing 5-unit property in a desirable Palm Beach County location.

Property Details for 305 CYPRESS Drive # 1,2,3,4,5, Lake Park, FL 33403

Flooring

Tile

Heating

Central Individual A/C, Central

Cooling

Central Individual A/C, Central Air

Architectural Style

Two Story

Pool Private

No

Year Built Details

Resale

Building Information for 305 CYPRESS Drive # 1,2,3,4,5, Lake Park, FL 33403

Building Area Total

2504

Building Area Units

Square Feet

Stories

2

Stories Total

2

Association

No

Pets Allowed

Yes

Property Information for 305 CYPRESS Drive # 1,2,3,4,5, Lake Park, FL 33403

Lot Features

1/4 To Less Than 1/2 Acre Lot, Less Than 1 Acre

Lot Size Square Feet

12,595

Waterfront

No

View

No

Construction Materials

Frame, Frame With Stucco, Stucco

Roof

Comp Shingle Roof, Flat Tile, Flat Roof With Facade Front, Shingle

Exterior Features

Courtyard

Sewer

Public Sewer, Public Sanitation, Sewer

Water Source

Public

New Construction

No

Public Records for 305 CYPRESS Drive # 1,2,3,4,5, Lake Park, FL 33403

Parcel Number

36434220010690440

Tax Annual Amount

$16,955

Tax Year

2025

Tax Legal Description

KELSEY CITY LTS 44 TO 46 INC BLK 69

Zoning

R1 (city)

County Or Parish

Palm Beach County

Schools Near 305 CYPRESS Drive # 1,2,3,4,5, Lake Park, FL 33403

Middle School

Howell L. Watkins

High School

Palm Beach Gardens

School assignments are provided by the listing and should be independently verified.

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