List Search

202 Lucerne Ave
Lake Worth, FL 33460 Parrot Cove

$2,950,000 USD

Apartments For Sale  •  9,320 SF

Property Details

  • Property Type Apartments
  • Total Building Size 9,320 SF
  • Lot Size 0.31 AC
  • Building Class C
  • Year Built 1974
  • Cap Rate 6.37 %
  • Zoning DT
30 Transit Score
60 Walk Score

Highlights

Transitory License: Rare flexibility for short-term rental conversion, offering significant revenue upside beyond traditional annual leasing.
Prime Downtown Location: Exceptional walkability just steps from Lake Avenue’s dining, retail, and entertainment in the heart of Lake Worth Beach.
Strong Unit Mix: 13 one-bedrooms and 1 two-bedroom, all with central A/C and private balconies.
Value-Add Upside: Strong in-place income with upside through rent growth and laundry revenue.
Prime Coastal Location: Minutes from the Intracoastal, Lake Worth Beach, and JFK Medical Center.

Property Flyers

Financial Summary (Actual)

Net Operating Income: $187,979 USD (2025)
Cap Rate: 6.37 %
Total Expenses: $100,141 USD

Amenities

  • 24 Hour Access
  • Air Conditioning
  • Dishwasher
  • Disposal
  • Microwave
  • Tenant Controlled HVAC
  • Heating
  • Trash Pickup - Curbside
  • Dining Room
  • Freezer
  • Walk-Up
  • Smoke Detector

Public Transportation

Commuter RailDriveWalkDistance
Lake Worth Beach Station (Mangonia Park - Miami Airport - Tri-Rail) 5 min - 1.6 mi
Boynton Beach Station (Mangonia Park - Miami Airport - Tri-Rail) 13 min - 6.5 mi
AirportDriveWalkDistance
Palm Beach International 15 min - 8.0 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 22
Type: Surface
Included in Rent: Yes
Elior Levi 954-743-7594 Fausto Commercial Realty Consultants
Elior Levi 954-743-7594 Fausto Commercial Realty Consultants