5314 Lake Avenue
West Palm Beach, FL 33405
- 2 beds
- 1 bath
- 672 sqft
- $523 per sqft
- 1947 build
- – on site
More homes
Great investment or starter home for anyone looking to create a passive stream of income. Priced below market value, so new owners will immediately have equity (home appraised at 369k). This property offers the opportunity to convert the detached structure into a rental property, office space, mother-in-law suite... the possibilities depend on your creativity. Potential earnings are estimated around $3000/month and above (ask me how). That's potentially around $36k a year and a cap rate of 7%!!Brand new solar panels installed 2022, electricity bill historically as low as $70/month for both properties and comes with 25 year warranty. New A/C unit installed in 2019!! Sprinkler System on Well - overall saving you tons of $$$ on your overhead!!! The main home is a 2 bedroom 1 bath featuring.
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Last updated Apr 5, 2025
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MLS# RX-10814271 —
The Building
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Year Built:1947
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Roof:Comp Shingle
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Construction:Aluminum Siding, Block
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Stories:1
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Front Exposure:West
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Exterior Features:Auto Sprinkler, Fence, Fruit Tree(s), Open Patio, Open Porch, Room for Pool, Shed, Shutters, Solar Panels
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Porch/Patio/Balcony:Patio, Porch
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SqFt Total:1118
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SqFt Source:Tax Rolls
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Storm Protection Panel Shutters:Complete
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Mobile Features:220V, Storage Shed, Utility Room Outside
Interior
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Furnished:No
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Interior Features:Stack Bedrooms
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Dining Area:Dining/Living
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Master Bedroom/Bath:None
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Flooring:Laminate, Tile
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Rooms:Laundry-Inside, Storage
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SqFt Living:672
Financial & Terms
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Terms Considered:Cash, Conventional, FHA
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Terms of Sale:VA
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Short Sale:No
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Possession:At Closing, Negotiable
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HOPA:No Hopa
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Price Per SqFt:$530.50
Location
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Directions:From I-95 S, exit on Summit Ave, make a right on Summit Blvd, left on Lake Ave. It is on the right.
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Area:5430
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Latitude:26.666167
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Longitude:-80.061265
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Geographic Area:PB20
The Property
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Parcel ID:74434404120000562
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Zoning:SF7(ci
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Type:Single Family Detached
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Lot Description:< 1/4 Acre
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Lot SqFt:5,225 Sqft
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Lot Dimensions:55.0 ft x 95.0 ft
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Waterfront:None
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Waterfront:No
Listing Agent
- Contact info:
- Agent phone:
- (561) 633-0707
- Office phone:
- (561) 966-4000
Taxes
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Taxes:$5,586.06
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Taxes:City/County, No Homestead
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Tax Year:2021
Beds
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Total Bedrooms:2
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Main Level Bedrooms:2
Baths
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Total Baths:1
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Full Baths:1
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Main Level Baths:1
The Listing
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Special Info:Sold As-Is
Heating & Cooling
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Heating:Central, Electric, Solar
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Cooling:Central, Electric
Utilities
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Utilities:Electric, Public Sewer, Public Water
Appliances
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Appliances Included:Dryer, Microwave, Range - Electric, Refrigerator, Storm Shutters, Washer
Schools
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Elementary School:Palmetto Elementary School
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Middle School:Conniston Middle School
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High School:Forest Hill Community High School
The Community
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Subdivision:SOUTHERLY HILL
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Subdivision Amenities:Sidewalks
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Pets Allowed:Yes
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Pets on Premises:No
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Pet Restrictions:No Restrictions
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Restrictions:None
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Governing Bodies:None
Parking
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Parking:Carport - Attached, Street
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Air Pollution Index
Provided by ClearlyEnergy
The air pollution index is calculated by county or urban area using the past three years data. The index ranks the county or urban area on a scale of 0 (best) - 100 (worst) across the United Sates.
Max Internet Speed
Provided by BroadbandNow®
View a full reportThis is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
2/12/24
Feb 12, 2024
|
MLSM | $392,000 | -14.6% | |
|
12/21/23
Dec 21, 2023
|
MLSM | $459,000 | ||
|
10/30/23
Oct 30, 2023
|
MLSM | $459,000 | -0.6% |
