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.

Address

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Address: Lucerne Ave
City: Lake Worth
State/county: Palm Beach County
Zip/Postal Code: 33460

Details

Updated on May 4, 2026 at 2:21 am

Property ID A12001661
Price $2,980,000
Land Area 0.31 Square Feet
Year Built 1974
Type Income/MultiFamily
Property Status Commercial Sale

Additional details

BuildingAreaTotal 9320
BuildingAreaUnits Square Feet
BusinessType Apartments
ConstructionMaterials Concrete Block Construction
ContractStatusChangeDate 2026-05-02
Cooling Central Individual A/C
DaysOnMarket 1
ExpirationDate 2026-10-15
Heating Central Individual A/C
InternetAddressDisplayYN 1
InternetAutomatedValuationDisplayYN 1
InternetConsumerCommentYN 1
InternetEntireListingDisplayYN 1
LeaseConsideredYN 1
LeaseTerm 1 To 3 Year Lease
ListAOR A-Miami Association of REALTORS
ListAgentDirectPhone 954-743-7594
ListingTerms All Cash, Conventional/Refinance
LotSizeSquareFeet 13505
MajorChangeTimestamp May 3, 2026 at 03:20am
MajorChangeType New
MlsStatus Active
ModificationTimestamp May 3, 2026 at 08:09am
NumberOfBuildings 1
NumberOfUnitsInCommunity 14
OnMarketDate 2026-05-02
OriginalEntryTimestamp May 3, 2026 at 03:20am
OriginalListPrice 2980000
OriginatingSystemID miamire
OriginatingSystemKey miamire
OriginatingSystemName Miami Association of REALTORS®
OtherExpense 0
ParcelNumber 38434421150300150
PhotosChangeTimestamp May 3, 2026 at 03:22am
PhotosCount 22
PostalCode 33460
PostalCodePlus4 3957
PriceChangeTimestamp April 15, 2026 at 06:01pm
PublicSurveyRange 38
PublicSurveySection 21
PublicSurveyTownship 38
Roof Built-Up
Sewer Public Sanitation
ShowingContactType Agent
ShowingInstructions Call Listing Agent
SourceSystemKey 455069617
SpecialListingConditions Sale
StateOrProvince FL
StatusChangeTimestamp May 3, 2026 at 03:20am
Stories 2
StoriesTotal 2
StreetName Lucerne Ave
StreetNumber 202
StreetNumberNumeric 202
SyndicationRemarks 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.
TaxAnnualAmount 52941
TaxLegalDescription TOWN OF LAKE WORTH LTS 15 & 16 BLK 30
TaxYear 2025
UnitNumber 1-14
WaterSource Public
Zoning DT (city