Peter Fife

Discover a well-located fourplex offering an exceptional investment opportunity in the heart of East Delray at 2222 Spanish Trail. Recently enhanced with capital improvements in 2023, including a refurbished parking lot with fresh asphalt, this property stands out with its refreshed look and prime location. Each unit features two bedrooms and one-and-a-half bathrooms, with Unit 2 boasting a new kitchen and appliances, while Unit 4 enjoys an upgraded kitchen, appliances, and vanities. Unit 1 has been fully renovated, and new air conditioning units have been installed in Units 3 and 4. Currently, two units are leased annually at $3,500 per month, with leases set to expire soon. The remaining two units are listed on Airbnb, generating substantial short-term income averaging $4,944 to $4,970 monthly. This dual-income potential allows investors the flexibility to capitalize on the lucrative short-term rental market or maintain stable long-term leases. Strategically positioned between US Highway 1/Federal Highway and Highway A1A, residents enjoy convenient access to Delray Beach's premier entertainment and lifestyle destinations. East Delray is renowned for its stunning beaches, luxurious real estate, and diverse community offerings, ensuring a coastal living experience with breathtaking sunsets over the Atlantic Ocean and Intracoastal Waterway. This property offers incredible accessibility, with seamless travel to major South Florida cities such as West Palm Beach, Boca Raton, Fort Lauderdale, and even Miami, less than an hour away. Palm Beach International Airport (PBI) is a short 30-minute drive, further enhancing its connectivity and appeal to tenants and investors.Discover a well-located fourplex offering an exceptional investment opportunity in the heart of East Delray at 2222 Spanish Trail. Recently enhanced with capital improvements in 2023, including a refurbished parking lot with fresh asphalt, this property stands out with its refreshed look and prime location. Each unit features two bedrooms and one-and-a-half bathrooms, with Unit 2 boasting a new kitchen and appliances, while Unit 4 enjoys an upgraded kitchen, appliances, and vanities. Unit 1 has been fully renovated, and new air conditioning units have been installed in Units 3 and 4. Currently, two units are leased annually at $3,500 per month, with leases set to expire soon. The remaining two units are listed on Airbnb, generating substantial short-term income averaging $4,944 to $4,970 monthly. This dual-income potential allows investors the flexibility to capitalize on the lucrative short-term rental market or maintain stable long-term leases. Strategically positioned between US Highway 1/Federal Highway and Highway A1A, residents enjoy convenient access to Delray Beach's premier entertainment and lifestyle destinations. East Delray is renowned for its stunning beaches, luxurious real estate, and diverse community offerings, ensuring a coastal living experience with breathtaking sunsets over the Atlantic Ocean and Intracoastal Waterway. This property offers incredible accessibility, with seamless travel to major South Florida cities such as West Palm Beach, Boca Raton, Fort Lauderdale, and even Miami, less than an hour away. Palm Beach International Airport (PBI) is a short 30-minute drive, further enhancing its connectivity and appeal to tenants and investors.

This property is primarily a redevelopment opportunity located 3 blocks north of East Atlantic Ave fronting on both Federal Highway (NE 5th Avenue) and NE 4 th Ave. Located just north of the new Hampton Inn Hotel. This property is well positioned within 1 mile of the Beach and one mile of I-95. The site contains an existing fully leased 10,800 sf multi-tenant office building. In addition to ample street parking, this parcel also contains its own private parking lot with 42 parking spaces, fronting NE 5 th Avenue North.

Peter Fife

About Peter Fife

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Recent property sales & transaction history

2 properties

Delray Beach

Apartment

$2,400,000

5,800 ft²

Properties for sale by listing agent Peter Fife

$5,858,000

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Peter Fife

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