516 Park Place

West Palm Beach, FL 33401

$2,350,000
Price
Beds
4,080 Sq. Ft.
$576 / Sq. Ft.
4,080
Sq. Ft.
$576
per Sq. Ft.

Description

516 Park Place (the ''Property'') offers an exceptional investment opportunity in West Palm Beach's Flamingo Park neighborhood, a prime location known for its historic charm and proximity to top dining, shopping, and cultural landmarks. This 4,283-square-foot, 4-unit Airbnb property is situated just blocks from the Intracoastal Waterway, providing a strategic location to attract both short-term vacationers and seasonal renters. Meticulously renovated, with nearly $1mm invested in preserving the property's...516 Park Place (the ''Property'') offers an exceptional investment opportunity in West Palm Beach's Flamingo Park neighborhood, a prime location known for its historic charm and proximity to top dining, shopping, and cultural landmarks. This 4,283-square-foot, 4-unit Airbnb property is situated just blocks from the Intracoastal Waterway, providing a strategic location to attract both short-term vacationers and seasonal renters. Meticulously renovated, with nearly $1mm invested in preserving the property's historic features while updating to contemporary Palm Beach chic. New roofs, windows, electrical, HVAC, plumbing, luxury kitchens & bathrooms complement the stylish interiors. The outdoor areas, designed as a tropical oasis feature hot tubs & private sitting/dining areas.

Listing Agent

  1. Megann Lucaj

    Megann Lucaj

    Alternative Listing Agent

    Compass

    megann.lucaj@compass.com

    P: (561)-702-0106

Property Details for 516 Park Place

Subdivision
FLAMINGO PARK IN
Waterfront
No
Waterfront Details
None
View
City, Garden
Style
No Pool/No Water
LISTING UPDATED: 11/08/2024 03:08 AM

Property Details for 516 Park Place

StatusActive
MLS #RX-11035230
Days on Market45
Taxes$21,960 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Quad Plex
Year Built1925
Lot Size-
CountyPalm Beach County

Building

FLAMINGO PARK

2 StoriesBuilt in 1925

Building Information for 516 Park Place

Stories2Residences-Year Built1925Building Size-Lot Size-

Property Information for 516 Park Place

Summary
Location and General Information
  • Property Condition: Resale
  • Geo Area: Palm Beach 5420; 5430; 5440
  • Street Number: 516
  • Subdivision Complex Bldg: FLAMINGO PARK IN
  • Municipal Code: West Palm Beach
  • State: FL
  • City Postal ID: 33401
  • MLS Area: 5430
  • MLS Sub Area: PB20
Parking
  • Carport Spaces: 0
Taxes and HOA Information
  • HOPA: No Hopa
  • Tax Year: 2023
Property
Lot Information
  • Area: 5430
  • HOA Amenities: None
  • Lot Description: < 1/4 Acre
  • Parcel ID: 74434328060020030
  • Property Group ID: 19990816212116581394000000
  • REO: No
  • Special Assessment: No
  • Sq Ft Total: 4,283
  • Square Ft Source: Tax Rolls
  • Zoning: SF14-C2--HIST. S
Property and Assessments
  • Legal Desc: FLAMINGO PARK LT 3 BLK 2
  • Sq Ft Liv Area: 4080.0
  • Legal Description: FLAMINGO PARK LT 3 BLK 2
Utilities
  • Utilities: Cable, Electric, Gas Natural, Public Sewer, Public Water, Water Available
Interior and Exterior Features
Exterior Features
  • Construction: Frame Construction, Frame With Stucco, Stucco Exterior Construction
  • Exterior Features: Cabana, Covered Balcony, Covered Patio, Custom Lighting, Deck, Extra Building, Fence, Open Balcony, Open Patio, Open Porch, Outdoor Shower
  • Private Pool: No
  • Storm Protection: Impact Glass: Complete
  • Subdiv Amenities: Common Laundry, Internet Included, Sidewalks, Spa-Hot Tub, Whirlpool
  • Gated Community YN: No
  • Structure Type: Single Family Detached
Interior Features
  • Roof: Barrel, Flat Tile
  • Separate Elec Meters: Yes
  • Separate Wtr Meters: No
  • Cooling: Central Individual
  • Flooring: Laminate, Tile, Vinyl Floor
  • Heating: Zoned
  • Window Treatments: Blinds
  • Guest Accommodations: No
  • Spa Features: Above Ground, Fiberglass, Heated, In Ground
  • Spa: Yes
Multi Family
Multi-Family Information
  • Income & Expenses: Annual Net Oper Inc: $141,001.00
  • Income & Expenses: Annual Total Expense: $46,901.00
  • Income & Expenses: Gross Operating Inc: $187,902.00
  • Tenant Pays: None
Unit 1
  • Unit 1 Desc: A/C Unit, Built-in Shelves, Den/Family, Dishwasher, Disposal, Electric Meter, Foyer, Kitchen, Laundry, Microwave, Pantry, Patio, Range - Gas, Refrigerator, Separate Dining, Split Bedrooms, Window Cover
  • Unit 1 Info: Bedrooms: 2
  • Unit 1 Info: Full Bath: 2
  • Unit 1 Info: Furnished: Yes
  • Unit 1 Info: Monthly Income: 6,000
  • Unit 1 Info: SqFt: 1336.0
  • Unit 1 Parking: Open Parking, Space Parking
Unit 2
  • Unit 2 Desc: A/C Unit, Den/Family, Dishwasher, Disposal, Electric Meter, Foyer, Kitchen, Laundry, Microwave, Pantry, Range - Gas, Refrigerator, Separate Dining, Split Bedrooms, Utility, Window Cover
  • Unit 2 Info: Bedrooms: 3
  • Unit 2 Info: Full Bath: 2
  • Unit 2 Info: Furnished: Yes
  • Unit 2 Info: Monthly Income: $7,000
  • Unit 2 Info: SqFt: 1336.0
  • Unit 2 Parking: Open Parking, Space Parking
Unit 3
  • Unit 3 Desc: A/C Unit, Built-in Shelves, Den/Family, Dishwasher, Disposal, Dryer, Kitchen, Laundry, Microwave, Pantry, Patio, Range - Gas, Refrigerator, Separate Dining, Utility, W/D Hookup, Walk-in Closets, Washer, Window Cover
  • Unit 3 Info: Full Bath: 1
  • Unit 3 Info: Furnished: Yes
  • Unit 3 Info: Half Bath: 1
  • Unit 3 Info: Monthly Income: $3,500.00
  • Unit 3 Info: SqFt: 695.0
  • Unit 3 Parking: Open Parking, Space Parking
Unit 4
  • Unit 4 Desc: A/C Unit, Built-in Shelves, Den/Family, Dishwasher, Disposal, Dryer, Kitchen, Laundry, Microwave, Pantry, Patio, Range - Gas, Refrigerator, Split Bedrooms, W/D Hookup, Walk-in Closets, Washer, Window Cover
  • Unit 4 Info: Bedrooms: 2
  • Unit 4 Info: Full Bath: 1
  • Unit 4 Info: Monthly Income: $4,000.00
  • Unit 4 Info: SqFt: 758.0
  • Unit 4 Parking: Open Parking, Space Parking
Rental
Rental Information
  • Pets on Premises: No

Property History for 516 Park Place

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 516 Park Place

Taxable ValueLand$543,600Additions$541,034Total$1,084,634
Tax Record2023$23,158 ($1,930 / month)
Home Facts
Baths4Total Finished SqFt2,672 SqFtAbove Grade Finished SqFt2,672 SqFtStories2Lot Size6,290 SqFtStyleDuplexYear Built1925Year Renovated1990ZoningSF14-C2CountyPALM BEACHAPN74-43-43-28-06-002-0030

Schools near 516 Park Place

This home is within Palm Beach.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Palm Beach Public School
PublicPK to 5

Conniston Middle School
Public6 to 8

Forest Hill Community High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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516 Park Place is a multi-family home for sale in West Palm Beach, FL 33401. This property was listed for sale on November 7, 2024 by Compass, it's currently listed at $2,350,000. It has been on the market for a total of 45 days and was last sold on February 1, 2023. This listing's school district is Palm Beach. Nearby schools include Palm Beach Public School, Conniston Middle School and Forest Hill Community High School. 516 Park Place is a 0-bed, 0-bath, 4,080 sqft multi-family home built in 1925.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Based on information from one of the following Multiple Listing Services: Beaches Multiple Listing Service, Inc., Martin County REALTORS® of the Treasure Coast, Inc., Miami Association of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Beaches Multiple Listing Service, Inc., Martin County REALTORS® of the Treasure Coast, Inc., Miami Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.