FL > Ocean Ridge > Palm Beach Shore Acres
Ocean Ridge, FL 33435,1 Tropical DR
Ocean Ridge, FL 33435,1 Tropical DR
Ocean Ridge, FL 33435,1 Tropical DR
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Len Edelman

Len Edelman

+1(561) 350-8273
Listed by Compass Florida LLC
$2,795,000
Est. payment /mo
8 Baths
4,310 SqFt
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UPDATED:

Key Details

Property Type Commercial

Sub Type MultiFamily (5+ Units)

Listing Status Active

Purchase Type For Sale

Square Footage 4,310 sqft

Price per Sqft $648

Subdivision Palm Beach Shore Acres

MLS Listing ID RX-11142310

Construction Status Resale

Year Built 1956

Annual Tax Amount $21,714

Tax Year 2025

Lot Size 0.300 Acres

Property Sub-Type MultiFamily (5+ Units)

Property Description

Prime Location: Located one block from the beach in Ocean Ridge, a prestigious and highly desirable area in Florida.8 units comprised of 3 studios and five 1 bed, 1 bath. All on separate elec. meters. Shared coin laundry. Whole building generator. Complete Accordion Shutters.100% occupied, annual leases. Some rents are lower than market due to the lease length of time. Investment Potential: Ideal for investors looking for a stable income property with strong appreciation. Outdoor Space: features patios, swimming pool, barbecue, Etc. Redevelopment Opportunity: Potential for redevelopment into luxury townhomes or condos, given the upscale neighborhood. Community Appeal: Ocean Ridge is known for its community feel, and exclusivity.

Location

State FL

County Palm Beach

Area 4120

Zoning RMM(ci

Interior

Heating Window/Wall

Cooling Ceiling Fan, Wall-Win A/C

Flooring Terrazzo Floor, Tile

Fireplaces Type Smoke Alarm, Smoke Detector

Exterior

Utilities Available Cable, Electric, Generator, Public Sewer, Public Water

Roof Type Concrete Tile,Tar/Gravel

Building

Story 100.00

Foundation CBS

Construction Status Resale

Others

Miscellaneous Laundry

Acceptable Financing Cash, Exchange

Listing Terms Cash, Exchange

Financing Cash,Exchange

Virtual Tour https://www.propertypanorama.com/1-Tropical-Drive-Ocean-Ridge-FL-33435/unbranded

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Len Edelman

Len Edelman

+1(561) 350-8273

Agent | License ID: 1028332

Agent License ID: 1028332

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