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Pedro Casanova

| The KREN Group | Keller Williams Premier Properties | PLACE

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305 Cypress Drive 1,2,3,4,5 , Lake Park, FL 33403
$1,280,000
Est. Payment: $6,833.34/mo
8 Bed
4 Bath
2504 Sqft
0.29 Acres
Status: active | Days on site: 34
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House Description

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.

Highlights

Listed by Fabian Robert McCullon , 561-262-3565 RE/MAX Prestige Realty/Wellington , 561-798-8080. REALTOR Association of Greater Miami and the Beach

Property Type

Multi-Family

Lot/Acreage
0.29

Year Built

1928

County

Palm Beach

Area

5270

Neighborhood

Kelsey City

Listing ID

B26080606

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Interior Features

Bedrooms and Bathrooms
  • ▪ Bedrooms:8
  • ▪ Bathrooms:4
Air Cond:Central Air
Fireplaces:
Floor:Tile
Water:Public

Exterior Features

Lot:<1 Acre,1/4 to 1/2 Acre Lot
Zoning:R1 (city)
Roof:Composition,Flat,Shingle,Tile
Others:
  • ▪ Additional:Courtyard
Sewer:Public Sewer
Principal Interest
$6,833
Taxes
$1,413

Home Price

$1,280,000

Loan Details

30 yrs
7.03%

Down Payment

20%
$256,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$6,833.34

Principal

Taxes

Principal Taxes HOA Total
Monthly $6,833.34 $1,412.92 $0.00 $8,246.26
Yearly $82,000.10 $16,955.00 $0.00 $98,955.10
Total $2,460,002.93 $508,650.00 $0.00 $2,968,652.93

Today's Rates

30 Year

7.03%

20 Year

6.92%

15 Year

6.45%

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Market insight data is pulled from the same city as the listing being viewed (Lake Park, FL).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Information provided by REALTOR Association of Greater Miami and the Beach, and is deemed reliable but not guaranteed accurate.

IDX service by Blueroof 360

Data last updated: 2026-11-02T21:11:30.000Z

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