305 CYPRESS Drive 1,2,3,4,5, Lake Park, FL 33403

$1,280,000
Property Type: Residential Income Square Footage: 2,504 Status: Active
Current Price: $1,280,000 List Date: 9/25/2026 Last Modified: 10/10/2026

Overview

Description

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.

Supplements: 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 a ...

Listing Details MLS# B26080606

General Property Information

Number Of Units Total
4
Property Sub Type
Quadruplex
Building Area Main
2504
Building Area Source
Appraiser
Living Area Main
2504
Living Area Source
Appraiser
Accessibility Features YN
No
Year Built
1928
Parking Total
10
Gated Community YN
No
Lot Size Area
12595
Lot Size Acres
0.29
Senior Community YN
No
Stories Total
2
Pool Private YN
No
LP/Assessed Value
2.2

Property Features

Documents Available: Rent Rolls Exterior Features: Courtyard Fencing: Back Yard; Front Yard Flooring: Tile Leasing Permitted Details: Okay To Lease Property Condition: Resale Special Listing Conditions: Standard Structure Type: Multi Family; Quadruplex Tenant Pays: Cable TV; Electricity Construction Materials: Frame; Stucco; Wood Frame Cooling: Central Air; Central Individual Heating: Central; Central Individual Laundry Features: Common Area Levels: Two Listing Terms: 1031 Exchange; Cash; Conventional; VA Loan Pets Allowed YN: Yes Pets Allowed: No Restrictions Possession: Close Of Escrow Restrictions: No Restrictions Roof: Flat; Shingle Sewer: Public Sewer Tax Information: City/County Utilities: Cable Available; Electricity Connected; Water Connected Water Source: Public Window Features: ENERGY STAR Qualified Windows Showing Requirements: 24 Hour Notice; Call Listing Agent Unit 1 Appliances: Range; Refrigerator Unit 1 Other Equipment: Air Conditioning Unit; Smoke Detector(s) Unit 1 Parking Features: Parking Space Unit 1 Rooms: Family Room; Kitchen; Separate Dining Unit 2 Appliances: Range; Refrigerator Unit 2 Other Equipment: Air Conditioning Unit Unit 2 Parking Features: Parking Space Unit 2 Rooms: Family Room; Kitchen Unit 3 Appliances: Range; Refrigerator Unit 4 Appliances: Range; Refrigerator Unit 4 Other Equipment: Air Conditioning Unit Unit 4 Parking Features: Parking Space Unit 4 Rooms: Family Room; Kitchen Acreage Description: 1/4 To Less Than 1/2 Acre Lot; Less Than 1 Acre Lot

Contract Information

Comp Sale YN
No
Original List Price
1280000
Negotiable Seller Concessions YN
No
Listing Service
Full Service

Location and Legal

Country
United States
County Or Parish
Palm Beach
Street Number
305
Street Name
CYPRESS
Street Suffix
Drive
Unit Number
1,2,3,4,5
Municipality Type
Incorporated
Municipal Code
36
State Or Province
FL
Postal Code
33403
Postal Code +4
3448
Subdivision Name
KELSEY CITY
Area
5270
Geographic Area
PB26
Elementary School
Lake Park
Middle Or Junior School
Howell L. Watkins
High School
Palm Beach Gardens
Special Assessment YN
No
Parcel Number
36434220010690440
Subdivision Number
Yes
Zoning
R1 (city)
Flood Zone
X
Directions
US-1 to Cypress Dr.

Financial Information

Master Association YN
No
Tax Annual Amount
16955.41
Tax Year
2025
Tax Assessed/SOH Value
580982
Tax Legal Description
KELSEY CITY LTS 44 TO 46 INC BLK 69
Assessor Market Value
580982

Status Change Information

Major Change Timestamp
2026-09-25T18:17:27Z
Major Change Type
New Listing
Status Change Date
2026-09-25

More Information

Leasing Permitted Details

Leasing Permitted YN
Yes

Meter Information

Separate Electric Meters YN
Yes
Number Of Separate Electric Meters
6
Separate Gas Meters YN
No
Separate Water Meters YN
No

Other Area Details

Living Area Other Structures
399
Building Area Other Structures
399

Pet Details

Pet Fee YN
No

Leasing Restrictions

Leasing - Max Times Per Year
365
Leasing - Minimum Number of Days
365

Storm Protection

Impact Glass
Complete

Unit 1 Details

Actual Rent
1900
Baths Full
Yes
Efficiency YN
No
Furnished
Unfurnished
Hotel Room YN
No
SqFt
700

Unit 1 Lease Description

Currently Leased YN
Yes
Lease Term
Month To Month
Lease Expiration
2026-09-30

Unit 1 Parking Details

Carport YN
No
Garage YN
No

Unit 2 Details

Actual Rent
1900
Baths Full
Yes
Efficiency YN
No
Furnished
Unfurnished
Hotel Room YN
No
SqFt
700

Unit 2 Lease Description

Currently Leased YN
Yes
Lease Term
Month To Month
Lease Expiration
2026-09-30
Occupant Type
Tenant

Unit 2 Parking Details

Carport YN
No
Garage YN
No

Unit 3 Details

Actual Rent
1900
Baths Full
Yes
Furnished
Unfurnished
Hotel Room YN
No
SqFt
700

Unit 3 Lease Description

Currently Leased YN
Yes
Lease Term
Month To Month
Lease Expiration
2026-09-30
Occupant Type
Tenant

Unit 4 Details

Actual Rent
2150
Baths Full
Yes
Efficiency YN
No
Furnished
Unfurnished
Hotel Room YN
No
SqFt
700

Unit 4 Lease Description

Currently Leased YN
Yes
Lease Term
Month To Month
Lease Expiration
2026-09-30
Occupant Type
Tenant

Unit 4 Parking Details

Carport YN
No
Garage YN
No

Price Calculations

Current Price To SqFt
511.18

Originating Details

Originating System Key
20260925174832612082000000
Originating System ID
M00000170
IDX
Listing Office: RE/MAX Prestige Realty/Wellington
Source MLS Verified
Last Updated: October - 10 - 2026
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. Copyright 2026 Beaches Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.
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