The Wedgewood poses an incredible opportunity to purchase a unique oasis in the heart of downtown Lake Worth Beach, Florida. Comprised of eight private villas and a bonus income-producing studio unit, The Wedgewood is a half-acre corner lot, located just two blocks from Lake Avenue and a short mile from the beautiful beaches.
Once you walk through the gates, you are engulfed by lush landscaping and a spacious courtyard where you will find a charming pavilion for tenants to enjoy and opportunity to enhance amenities/common area.
Unlike standard apartment units, these feel like villas; units boast large private yards and dual entrances. The interiors blend contemporary features with old Florida charm and original Miami-Dade pine flooring. The property offers a true stabilized value-add opportunity to increase rents to market without any immediate capex required. Additionally, the footprint and location are ideal for vacation rentals. The Wedgewood is a truly one-of-a-kind asset boasting generational appeal to discerning investors.
The Wedgewood is just a few blocks from the Historic Gulfstream Hotel, currently under renovation. Lake Worth Beach has experienced a surge of new development, including new shopping centers, luxury condominiums, new roads and sidewalks, and an expansion of downtown mixed-use, urban zoning. As a result of the increase in living costs in neighboring Delray, Boynton and Palm Beach, Lake Worth Beach is the epitome of waterfront urban living and positions The Wedgewood as a prime investment opportunity and rental property.