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Multifamily (5+ Units) For Sale

702 8th Avenue, Delray Beach, Florida 33483

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Property Description

Significant multifamily and development investment opportunity in east Delray Beach. Two adjoining properties (702 NE 8th Ave & 709 NE 7th St) are being offered together totaling 21 units on 0.33 of an acre. The first building contains (19) studio apartment units with an office, and the second is a duplex with (2) two bedroom, 1 bathroom units side by side. The properties are currently fully leased with upside for an investor to purchase and maximize revenue through redevelopment or optimizing rents to current full market values. A new roof was completed in 2021 and with a location only 0.6 miles to the beach, there is abundant potential for these properties.

Basic Details
Property Type : Multifamily (5+ Units)
Listing Type : For Sale
Listing ID : RX-10815726
Price : $7,300,000
Bathrooms : 21
SqFt - Living : 8,691 Sqft
Year Built : 1956
MLS Addon
Agent Name : Christopher McInnis
Pets Allowed : No
Taxes : $42,712
Waterfront : No
Directions : From Federal Highway take George Bush Blvd east towards the beach and take your second right onto NE 8TH Avenue after the 7-11 Store. Property will be on your right hand side two blocks south.
Status : Active
Zoning : RM10
Listing courtesy of : Engel & Voelkers Delray Beach
Address Map
Country : US
State : FL
County : Palm Beach
City : Delray Beach
Zipcode : 33483
Street : 8th
Street Number : 702
Street Suffix : Avenue
Longitude : W81° 56' 4.4''
Latitude : N26° 28' 22''
Multifamily (5+ Units) For Sale
  • Listing ID : RX-10815726
  • Bathrooms : 21
  • Christopher McInnis
$7,300,000
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