• listing
  • Value-Add 8+ Unit Multifamily
223-231 S Palmway Lake Worth, FL 33460
  • Value-Add 8+ Unit Multifamily
  • $2,900,000 ($322,222/Unit)
  • 4.76% Cap Rate

Value-Add 8+ Unit Multifamily

The Wedgewood poses an incredible opportunity to purchase a unique oasis in the heart of downtown Lake Worth Beach, Florida. The Wedgewood is comprised of eight private villas and a bonus income-producing studio unit, on two parcels, 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. It is more fitting to call the units villas, rather than apartments, as they feel like spacious homes, offering dual entrances with private gardens. The interiors boast a hybrid of contemporary features and old Florida charm with original Miami-Dade pine flooring. The property offers a true value-add opportunity to increase rents to market. 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.

Lake Worth Beach has experienced a surge of new development, including new shopping centers, luxury condominiums, new roads and sidewalks, as well as 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.

read more
Multifamily Advisor

Property Info

  • Address
    223-231 S Palmway, Lake Worth Beach, FL 33460
  • Lot Size
    0.46 Acres
  • # of Units
    8 Units + Bonus Studio
  • Built
    1947 Vintage, CBS Construction
  • Proforma Cap Rate (Traditional)
  • Proforma Cap Rate (Vacation)


223-231 S Palmway,
Lake Worth, FL 33460


contact Alexis
3250 Mary Street, Suite 520
Coconut Grove, FL 33133

"*" indicates required fields

I prefer to be contacted by:
This field is for validation purposes and should be left unchanged.

Powered by Neutrino, Inc.