Bal Harbor Real Estate Search

Bal Harbor Multi-Family Properties for Sale

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Newest Bal Harbor Multi-Family Homes for Sale

$3,995,000
B26035280 MLS North Palm Beach Village BLDG.
Presenting one of the most unique multifamily properties in all of Palm Beach County, welcome to Cutler's Cove in North Palm Beach. This waterfront, twelve (12) unit apartment complex is 100% leased with virtually zero turnover in the last five years is the cash cow you have been waiting for! Cutler's Cove has a diverse unit mix consisting of five (5) one bedroom units, five (5) two bedroom units, one (1) three bedroom unit, and a studio apartment with a GLA of approximately 11,040 SF and an average of 829 SF per unit. Additionally, this property is also situated on an enormous cove with 210' of linear water-frontage, providing tenants beautiful waterfront views that demand a premium. This water-frontage gives any value-add investor the rare ability install a large dock capable of accommodating several boat slips, which will undoubtedly produce additional rental income. With just one fixed bridge (with a maximum height clearance of 17') before hitting the intracoastal waterway, this is truly one of the most unique value-add opportunities in South Florida's multifamily market. All twelve (12) units were renovated after the current owner purchased the property and every unit has ceramic tile floors, durable millwork throughout, and granite countertops in both the kitchen and bathrooms. Each unit also has its own private, waterfront balcony with beautiful views at any time of the day. other building amenities include complete hurricane impact windows & doors, two staircases on either side of the building, and most importantly, a top of the line elevator for tenants unable to utilize stairs. The exterior of the building was painted within the last twelve months and the asphalt parking lot was redone and re-striped at the same time. Currently, the gross monthly income is approximately $20,500 which gives an average for all twelve units of only $1.85 PSF and is far below current market rates in the area. In addition, all twelve units are on month-to-month leases, which gives any investor the ability to raise rents immediately after the acquisition. When comparing the average rent per unit at the subject property ($1,705/month) to the Palm Beach County average ($2,530/month), it is clear to see that there is a massive opportunity for growth here with this asset. For the conservative investors, bumping the average rent to an affordable rate of $2,000/month (20% below county average) per unit would still generate a 17% increase to the monthly gross income without spending a dollar and would take the annual income from $245,460 to $288,000 overnight. Opportunities like this do not last long!

628 Southwind Circle, North Palm Beach

$729,850
B26033753 MLS
Rare opportunity to acquire an income producing duplex (1 Bedroom/1 Bathroom each side) with additional development capacity in Fort Lauderdale's rapidly developing Studio City at over 35% below market value. Located on NE 5th Terrace, less than one block from NE 13th Street, the property is under a 60 second walk from the heart of Studio City: Fort Lauderdale's emerging arts and entertainment district, featuring an eclectic mix of independent businesses like Gulfstream Brewing Co, Lovelee Bakeshop, Radio-Active Records and other popular neighborhood destinations. Situated at the crossroads of Flagler Village & Wilton Manors, the area offers a vibrant, walkable neighborhood experience with a youthful, creative energy often compared to early Wynwood. Surrounded by ongoing new development, the area continues to attract investors & developers who recognize its long term potential. This property should not be viewed solely as a duplex or solely as a land play; the true value is in both. The existing duplex (that has separate water & electric meters) can remain in place and continue generating income while 8 additional units are developed on the same lot, for a total of 10 units, without tearing down the current structure. The included site plan shows viable layout, parking, & access. A preliminary development meeting with the city has been held; representatives from every relevant department (planning, zoning, engineering, landscape, etc) were present and confirmed that the site plan is feasible and compliant with current code and zoning regulations. Land comps:$91k-$117k per unit sold, $129k-$162k per unit active. Active & sold multifamily comps:$200k(not renovated)-$320k(fully renovated) per unit. Subject property: partially renovated duplex + 8 units of buildable land; market value ~$1.2M. 1 bed rents:$1.6k-$2.3k/mo. Build cost ~$1.2M. All in:~$2M. Projected value:$3M+ = $1M+ instant equity upon completion. Potential ~10% cap rate. Seller will finance. Property is in a Qualified Opportunity Zone, which offers the potential for major tax benefits including deferring taxes, reducing capital gains taxes, and potentially paying no tax at all on the profit when you sell the property; consult tax professional for details and eligibility. See photos & attachments for details on location, plans, and comps. Call listing agent for more information.

1219 NE 5th Terrace Unit 1-2, Fort Lauderdale

$899,000
B26033734 MLS
Exceptional multifamily duplex opportunity in highly sought-after Sailboat Bend featuring two fully detached residences with separate private entrances, parking, laundry, and fenced outdoor spaces. The front residence, occupied by a long-term tenant, offers 3 bedrooms and 2 bathrooms with a spacious patio ideal for entertaining, while the rear residence is a fully renovated 2-bedroom, 1-bath home with its own expansive fenced yard and dedicated laundry room, currently operating as a vacation rental. 2024 updates to the rear residence include new plumbing, electrical, flooring, and kitchen. Unlike a typical duplex setup, both residences provide the feel of separate private homes, creating strong rental appeal and flexible living options. Prime location near famed Las Olas & sunny beaches Exceptional and rarely available Sailboat Bend compound offering the flexibility, privacy, and lifestyle today's buyers are searching for. Unlike a traditional house and cottage or standard duplex setup, this unique property truly lives like two separate private homes, each with its own entrance, parking, outdoor living space, and sense of independence. The front residence features 3 bedrooms and 2 bathrooms with an inviting layout designed for comfortable everyday living and entertaining. A spacious fenced patio extends the living experience outdoors, ideal for gatherings, pets, relaxing evenings, or enjoying South Florida's year-round tropical lifestyle. Privately positioned in the rear of the property, the fully renovated 2-bedroom, 1-bath residence offers an entirely separate living experience complete with its own entrance, expansive fenced yard, dedicated laundry room, and private outdoor areas. The rear residence feels more like a standalone home than a typical guest house or rental unit, making it ideal for multigenerational living, guests, owner occupancy with rental income, seasonal use, or long and short-term rental opportunities where permitted. Both residences feature: • Separate and private outdoor living spaces • Private parking • Independent entrances • Dedicated laundry areas • Excellent privacy and flexibility • Strong income-producing potential Located in the heart of historic Sailboat Bend, one of Fort Lauderdale's most charming and rapidly evolving neighborhoods, the property is just moments from: • Las Olas Boulevard • Downtown Fort Lauderdale • Brightline Station • Riverwalk • Performing Arts Center • Restaurants, nightlife, coffee shops, and entertainment • Major highways and Fort Lauderdale Beach Sailboat Bend is beloved for its historic charm, walkability, tree-lined streets, eclectic architecture, and unbeatable proximity to the urban core while still maintaining a neighborhood feel. This property presents an exceptional opportunity for: • Owner occupants seeking supplemental income • Investors looking for flexible multifamily potential • Buyers needing space for guests • Buyers seeking a live/work or hybrid lifestyle setup • Those wanting a rare property with flexibility and privacy near Downtown Fort Lauderdale A truly unique offering that goes far beyond the ordinary duplex or house-and-cottage setup.

312 SW 12th Avenue, Fort Lauderdale

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