$1,280,000
305 CYPRESS Drive 1
Explore the area: Lake Park homes for sale · Palm Beach County real estate
Price Check
How this price compares
- List price
- $1,280,000
- Price per sq ft
- $511
- Original price
- Unchanged
- Days on market
- 15
This multi-family property in Kelsey City is listed at $1,280,000, or $511 per square foot. It has been on the market for 15 days.
Estimated monthly payment
$6,727 /mo
Principal and interest only, based on $256,000 down (20%), a 6.875% 30-year fixed rate. Property taxes, homeowners insurance are not included.
Customize this estimateListing Snapshot
- Price
- $1,280,000
- Days on Site
- 15 Days
- Bedrooms
- 0
- Total Baths
- 0
- Living Area
- 2,504 sqft
- Total Sq Ft
- 2,504 sqft
- Lot Size
- 0.29 Acres
- Year Built
- 1928
- Property Type
- Multi-Family
- MLS #
- B26080606
- Property Tax
- $16,955 (2025)
- Subdivision
- KELSEY CITY
- County
- Palm Beach
- Status
- Active
- Special Conditions
- Standard
About This Property
INCOME-PRODUCING 5-UNIT INVESTMENT PROPERTY - 100% OCCUPIED! Exceptional opportunity to acquire a fully rented, well-maintained multifamily property offering immediate cash flow and an estimated 6.5% cap rate at a $1.28M purchase price, based on current income and operating expenses. The property consists of four spacious 2-bedroom, 1-bath units plus a separate standalone cottage, providing five individual rental units and a diversified income stream. All five units are currently rented, with established tenants, allowing a new owner to begin generating income from day one. The property is owner-managed and has been meticulously maintained inside and out, with attractive landscaping and excellent curb appeal. Tenants enjoy central air conditioning and impact windows, while the property also features an on-site surveillance system for added security. With tenants currently on month-to-month agreements, a new owner has added flexibility when developing a future rental and management strategy. The property also offers potential upside through future rent adjustments as market conditions allow. Ideally located just blocks from the Intracoastal Waterway and convenient to shopping, dining, employment, and entertainment. As an additional benefit, the main roof will be replaced prior to closing, helping reduce a significant near-term capital expense for the new owner. Whether you're expanding an existing portfolio or looking for a stabilized multifamily investment with immediate rental income, this is a rare opportunity to acquire a fully occupied, income-producing 5-unit property in a desirable Palm Beach County location.
MLS media linkGeneral Features
- Property Type
- Multi-Family
- Status
- Active
- Year Built
- 1928
- Property Condition
- Resale
- Number of Stories
- 2
- Levels
- Two
- Lot Size (Acres)
- 0.29
- Living Sq Ft
- 2,504
- Total Sq Ft
- 2,504
- Structure Type
- Multi Family / Quadruplex
- Sewer
- Public Sewer
- Water Source
- Public
- Zoning
- R1 (city)
Interior Features
- Cooling
- Central Air
- Heating
- Central / Individual
- Flooring
- Tile
- Laundry
- Common Area
- Windows
- Energy Star Qualified Windows
Exterior Features
- Construction
- Frame / Stucco / Wood Frame
- Roof
- Flat / Shingle
- Exterior Features
- Courtyard
- Lot Features
- Quarter To Half Acre Lot
- View
- City
Community & HOA
- Utilities
- Cable Available / Electricity Connected / Water Connected
- Pets Allowed
- No Pet Restrictions / Yes
- Financing Terms
- Cash / Conventional / Exchange1031 / Va Loan
- Restrictions
- No Restrictions / Ok To Lease
- MLS Area
- 5270
Schools
- Elementary School
- Lake Park
- Middle School
- Howell L. Watkins
- High School
- Palm Beach Gardens
About the Community
Kelsey City is a community in Lake Park, Palm Beach County, Florida. Active listings are priced from $415,000 to $925,000. Homes were built between 1957 and 1972. Pure Equity lists homes in Kelsey City and represents buyers. Commission is negotiable, and what we are paid is agreed with you in writing before you commit to anything.
- Homes for Sale
- 9
- Under Contract
- 8
- Median List Price
- $795,000
- Median Sale Price (September)
- $570,000
- Median $/Sq Ft
- $348
- Avg Days on Market
- 39
Frequently Asked Questions
- How do I schedule a tour of 305 CYPRESS Drive 1,2,3,4,5, Lake Park, FL 33403?
- Use the Tour button on this listing to request a showing of 305 CYPRESS Drive 1,2,3,4,5, Lake Park, FL 33403. Pick a day and time and choose an in-person or video-chat tour, and a Pure Equity agent will confirm your visit, often the same day.
- Is 305 CYPRESS Drive 1,2,3,4,5, Lake Park, FL 33403 still available?
- 305 CYPRESS Drive 1,2,3,4,5, Lake Park, FL 33403 is currently listed as Active, and has been on the market 15 days. Status updates directly from the MLS as homes go under contract, so ask us to confirm availability before you plan a visit.
- How much is the monthly payment for 305 CYPRESS Drive 1,2,3,4,5, Lake Park, FL 33403?
- With 20% down ($256,000) on the $1,280,000 list price and a 30-year fixed loan at an illustrative 6.875% rate, the estimated principal & interest for 305 CYPRESS Drive 1,2,3,4,5, Lake Park, FL 33403 is about $6,727/mo, before property taxes, insurance. Use the payment estimate on this page to adjust the down payment and rate.
- How do I get pre-approved to buy 305 CYPRESS Drive 1,2,3,4,5, Lake Park, FL 33403?
- Getting pre-approved shows sellers you're a serious buyer and clarifies your true budget before you offer on 305 CYPRESS Drive 1,2,3,4,5, Lake Park, FL 33403. Contact Pure Equity and we'll connect you with a trusted local lender to review your financing options, no obligation.
- What schools serve 305 CYPRESS Drive 1,2,3,4,5, Lake Park, FL 33403?
- 305 CYPRESS Drive 1,2,3,4,5, Lake Park, FL 33403 is zoned for Lake Park (elementary), Howell L. Watkins (middle), Palm Beach Gardens (high). School assignments and boundaries can change year to year, so confirm current zoning with the local school district before you buy.
- Can I negotiate the price of 305 CYPRESS Drive 1,2,3,4,5, Lake Park, FL 33403?
- Often, yes. The right offer on 305 CYPRESS Drive 1,2,3,4,5, Lake Park, FL 33403 depends on how it's priced against comparable multi-family sales in Lake Park, how long it's been listed, and how motivated the seller is. Pure Equity will run the comps and help you craft a competitive, well-supported offer.
Listing courtesy of RE/MAX Prestige Realty/Wellington
Listing information is provided by BeachesMLS, Inc.and is deemed reliable but not guaranteed accurate by the MLS or Pure Equity. Information is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties. © 2026 BeachesMLS, Inc. Last updated September 27, 2026.
$1,280,000
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Listed by Fabian Robert McCullon, RE/MAX Prestige Realty/Wellington
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Recent Sales
Recently sold homes in Kelsey City
These are the last 6 recorded closings in Kelsey City, with the price each home actually sold for rather than what it was listed at. They closed at a median of $355 per square foot. The most recent closed on October 13, 2026. Closed sales are what an appraiser and a buyer's agent will look at, so they are the starting point for pricing a home here.
Sold$545,000
Sold · October 13, 2026
640 W ILEX Drive
4 bed · 2.5 bath · 1,608 sqft · $339/sqft
Sold$615,000
Sold · September 25, 2026
434 Australian Circle
3 bed · 2 bath · 1,916 sqft · $321/sqft
$54,000 under the asking price
Sold$530,000
Sold · September 23, 2026
1133 7th Street
3 bed · 2 bath · 1,431 sqft · $370/sqft
$70,000 under the asking price
Sold$602,000
Sold · September 18, 2026
415 Park Avenue
3 bed · 2 bath · 1,698 sqft · $355/sqft
$48,000 under the asking price
Sold$500,000
Sold · September 16, 2026
255 Foresteria Drive
3 bed · 2 bath · 1,557 sqft · $321/sqft
$5,000 over the asking price
Sold$570,000
Sold · September 14, 2026
711 Laurel Drive
3 bed · 2 bath · 1,366 sqft · $417/sqft
$69,000 under the asking price
See every recorded sale in Kelsey City or find out what your Kelsey City home is worth.
