Situated on the ''elbow lot'' of an L-shaped, deep -water canal, just off the Intracoastal waterway, this RARE, income-producing property is located in the exclusive, barrier-island Township of Highland Beach, just nestled along Boca Raton & Delray Beach. Property comprises 4 attached, contemporary townhomes -ranging from 1,950 ac sq ft to 2,500 ac sq ft. each. All TH's offer 3 bedrooms; 2.5 -3.5 baths; wood-burning fireplaces; one -car garages; and views...views...views! Complex has resort-style pool & attractive private balconies...patios...& common areas on 64 ft of pristine water frontage with dock. Deeded beach access! The best of ALL worlds...***Ideal for a investor who wants to live on the property and collect significant rental income (see addendum!):Unit 1: currently LEASED 11/1/16-10/31/17; Unit 2: currently LEASED on month-to-month basis to longstanding Tenant paying below current market price; Unit 3: currently LEASED 11/1/16-10/31/17; Unit 4 is currently vacant to accommodate for showing appts. Profit and Loss 1121 Highland Beach Expenses 1. FPL Common area not determined ( elec ) 2. Town of Highland Beach not determined ( water & sewer ) 3. Real Estate Tax $24,000.00 as investment property less as homestead 4. Pool maintenance $100.00/ month 5. Pest Control $45/month 6. Landscape not determined (currently $300. pr month / $3,600. annual) 7. Insurance < $16,000.00/ annual Total Approximate -Tax and Insurance-$ 40,000.00 plus expenses not expected to exceed $15,000.00~$55,0000.00 Income: 1. Unit 1 $4,500.00 2. Unit 2 $3,000.00 3. Unit 3 $3,800.00 4. Unit 4 $6,500.00 includes unit 4 and Dock Total approximate income $17,800.00/ month or $ 213,600.00/annual
Cable, Electric Available, Public Sewer, Public Water, Water Available, Underground
Interior Canal, Navigable, Ocean Access, Seawall, No Fixed Bridges
Concrete, Inground, Child Gate, Gunite, Salt Water
Auto Sprinkler, Awnings, Covered Balcony, Fence, Open Balcony, Open Patio, Open Porch
1/4 to 1/2 Acre, East of US-1, Flood Zone, Paved Road, Public Road, Treed Lot, Irregular Lot
Awning, Blinds, Hurricane Windows, Impact Glass, Sliding
J. C. Mitchell Elementary School
Boca Raton Community Middle School
Boca Raton Community High School
|Status Changed from New to Active||–|
All listings featuring the BMLS logo are provided by Beaches MLS Inc. Copyright 2017 Beaches MLS. This information is not verified for authenticity or accuracy and is not guaranteed.
© 2017 Beaches Multiple Listing Service, Inc. All rights reserved.
Listing information last updated on February 28th, 2017 at 4:51am EST.