Skip To Content

702 NE 8th Avenue

Delray Beach, FL 33483
  • $7,300,000
  • STATUS: Active
  • ON SITE: 83 Days
  • MLS #: RX-10815726
UPDATED: 21 min ago
$7,300,000
  • 0
    BEDS
  • 0.33
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 8,691
    SQFT
  • $840
    $/SQFT
Type:
Commercial
Built:
1956
County:
Area:

School Ratings & Info

Description

Significant multifamily and development investment opportunity in east Delray Beach. Two adjoining properties (702 NE 8th Ave & 709 NE 7th St) are being offered together totaling 21 units on 0.33 of an acre. The first building contains (19) studio apartment units with an office, and the second is a duplex with (2) two bedroom, 1 bathroom units side by side. The properties are currently fully leased with upside for an investor to purchase and maximize revenue through redevelopment or optimizing rents to current full market values. A new roof was completed in 2021 and with a location only 0.6 miles to the beach, there is abundant potential for these properties.

Monthly Payment Calculator

www.thepaizgroup.com/homes/130771268
Print Image

702 NE 8th Avenue Delray Beach, FL 33483

  • Price: $7,300,000
  • Status: Active
  • On Site: 83 Days
  • Updated: 21 min ago
  • MLS #: RX-10815726
0
Beds
0
Baths
0
½ Baths
0.33
Acres
8,691
SQFT
$840
$/SQFT
1956
Built
County:
Palm Beach
Area:
Delray Beach
Property Description
Significant multifamily and development investment opportunity in east Delray Beach. Two adjoining properties (702 NE 8th Ave & 709 NE 7th St) are being offered together totaling 21 units on 0.33 of an acre. The first building contains (19) studio apartment units with an office, and the second is a duplex with (2) two bedroom, 1 bathroom units side by side. The properties are currently fully leased with upside for an investor to purchase and maximize revenue through redevelopment or optimizing rents to current full market values. A new roof was completed in 2021 and with a location only 0.6 miles to the beach, there is abundant potential for these properties.
Exterior Features

Roof MixedWood Truss/Raft Waterfront YN No

Interior Features

Bath Toilets 21.00 Cooling Central IndividualWall-Win A/C Flooring LaminateOtherTerrazzo Floor Heating Other Miscellaneous2 Office Offices 1 Percent Air Conditioned 100.00

Property Features

Auction No Available Docs Occupational License Available Info Copies Of LeaseFull Financials Fire Protection Smoke Detector For Lease No For Sale Yes Lease Annual List Office Board Code Realtor Association Of The Palm Beaches (Rapb) Possession At Closing Sale Includes Building And Land Tax Amount Real Estate Taxes 42712.00 Tax Year 2021 Tenant Pays CableElectric Terms Considered Cash Type Of Building Free StandingIncomeResident. Multi-Fam. Use Income Utilities CableElectricMunicipal WaterPublic Sewer Zoning Rm10

Listing provided courtesy of Engel & Voelkers Delray Beach: (561) 362-2888. Listing information © 2022 BeachesMLS
 
https://bt-photos.global.ssl.fastly.net/rmls/1280_boomver_1_RX-10815726-2.jpg https://bt-photos.global.ssl.fastly.net/rmls/1280_boomver_1_RX-10815726-2.jpg https://bt-photos.global.ssl.fastly.net/rmls/1280_boomver_1_RX-10815726-2.jpg
Logo
The Paiz Group | EWM Realty International
1700 East Las Olas Boulevard Suite 103
Fort Lauderdale FL, 33301