Bought with Swordfish Realty Inc.
$5,400,000
$6,895,000
21.7%For more information regarding the value of a property, please contact us for a free consultation.
1.99 Acres Lot
SOLD DATE : 06/06/2018
Key Details
Sold Price $5,400,000
Property Type Single Family Home
Sub Type Single Family Detached
Listing Status Sold
Purchase Type For Sale
Subdivision 34-45-43, N 166.84 Ft Of Gov Lt 2 (Less W 519.46 Ft, Ocean Blvd, N 80 Ft Of E 111.99 Ft Lyg W Of Oce
MLS Listing ID RX-10342284
Sold Date 06/06/18
HOA Y/N No
Annual Tax Amount $23,528
Tax Year 2016
Lot Size 1.985 Acres
Property Sub-Type Single Family Detached
Property Description
This is the perfect opportunity for a multi-unit beach and oceanfront residential development. The land is zoned HR-8 allowing for up to 8 dwelling units per acre and includes 171' of ocean frontage. The 1.98 acres is comprised of two lots separated by a short stretch of Old Ocean Boulevard, one of the most prestigious old roads in south Florida. There are few remaining lots with this appeal and it represents a rare development opportunity to acquire a residential ocean front site in such a highly desirable ocean access location.According to the Palm Beach County Department of Planning, Zoning & Building, development of up to 18 units is permissible, with potential for an additional 18 by utilizing the bonus density option.
Location
State FL
County Palm Beach
Area 4120
Zoning H Residential 8
Exterior
Community Features Comforms to Zoning, Deed Restrictions
Utilities Available None
Waterfront Description Ocean Access,Oceanfront
View Ocean
Present Use Comforms to Zoning,Deed Restrictions
Exposure East
Building
Lot Description 1 to < 2 Acres, East of US-1
Others
Acceptable Financing Cash, Conventional
Horse Property No
Listing Terms Cash, Conventional
Financing Cash,Conventional
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