Commercial property in Lake Worth, Florida № 2074977

Property description

Well-located 14-unit multifamily property in the heart of downtown Lake Worth Beach at 202 Lucerne Avenue. The asset consists of thirteen 1-bedroom/1-bath units and one 2-bedroom/1-bath unit, all featuring central A/C, private balconies, and ample natural light, along with an on-site laundry facility for additional income. Built in 1974 with concrete block construction and a stucco exterior, the property is currently operated as annual rentals and also holds a valuable transitory license, allowing for potential conversion to short-term rentals and increased revenue. Positioned just steps from Lake Avenue, the property offers exceptional walkability to dining, retail, and entertainment, and is located just minutes from the Intracoastal Waterway, Lake Worth Beach Park, and JFK Medical Center. Strong in-place income with clear upside through rental growth and operational improvements in a highly active and improving downtown submarket supported by ongoing redevelopment and long-term demand drivers.