5 photos$1,249,000list price
Price cut$46,000
2 bd · 2.5 ba · 1,697 sq ft Condo or villa
220 LAKE SHORE DR #609, LAKE PARK, FL 33403
Listing courtesy of Village Realty Group. MLS# B26091445.On the MLS · Listed Oct 21
$1,280,000
305 CYPRESS DR #12345, LAKE PARK, FL 33403
0 baths2,504 sq ft2 to 4 unitsBuilt 1928
Updated today, November 3, 2026This home against Lake Park
$511 per sq ft, 38% under the Lake Park median
40 days on the market
$16,955 in property taxes (2025)
12,632 sq ft lot
Lake Park today: 81 homes for sale, median list price $1,348,000.
About this home
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.
Near this home
Elementary school: Lake Park Elementary School, 0.5 mi
Middle school: Howell L. Watkins Middle School, 1.5 mi
High school: Inlet Grove Community High School, 1 mi
Park: Blakely Commons, 0.8 mi
Grocery: Publix, 0.6 mi
Distances from the center of LAKE PARK. Schools are nearest by distance, not an attendance zone.
Listing courtesy of RE/MAX Prestige Realty/Wellington. MLS# B26080606.
Listing information is provided by the MLS and is deemed reliable but not guaranteed.
Listed September 24, 2026.
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