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0 Baths
2,504 sqft

$1,280,000

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

Price per sqft$511.18
Built in1928
Property size2,504 sqft
Property typeMulti-family

Overview

Active

Listed Sep 25, 2026

Updated 26h ago

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.

$8,516/mo

Est. mortgage payment based on a $1,280,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
B26080606

Interior Features

Bathrooms
0
Cooling
Yes
Heating
Yes
Basement
No

Exterior Features

Lot Size
0.29 Acres

Other Property Details

Taxes
$16,955
Tax Frequency
Annually
Pets Allowed
Yes
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Based on information from the Miami Association of REALTORS®. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS.  All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. 

©2026 Miami Association of REALTORS® all rights reserved. 

Data last updated 3:58 AM UTC, 10/9/2026.

Listed by:  RE/MAX Prestige Realty/Wellington, 561-798-8080

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