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1422 Lucerne Avenue

$1,600,000

1422 Lucerne Avenue, Lake Worth, FL 33460

Active
Last Updated: 11/05/2024

1950

Year Built

MU-E

Zoning

Details:
Year Built:    1950
Zoning:    MU-E
Roof:    ["Comp Rolled"]
Floor:    ["Laminate", "Tile"]
Restrooms:    3
Cooling:    ["Electric"]
GrossIncome:    $68,754
Highlights:
  • Building Area: 2458.0
Description:

Lake Worth Beach Development Opportunity. .31 acre parcel with Mixed Use East (MU-E) Zoning. Corner location allows for a broad range of commercial and residential applications. This district is home to a burgeoning arts scene and an array of mixed use developments projects.
Potential uses include and are not limited to residential, office, retail, showroom, bakery, art studios, restaurant, personal services and more.
Maximum base density for the parcel allows for 8 residential units. Incorporating specific city programs would increase density and allow for the development of up to 22 residential dwelling units.
Currently an 800 sf. free standing commercial building and a 1700 sf. single family home (both CBS), with leases in place, occupy the property, generating $5700 per month.

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Today's Available Mortgage Rates

1422 Lucerne Avenue, Lake Worth, Florida 33460

Choose Your Priority
 
Interest Rate
Mo. Payments
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default.
Loan Amount
Rates as of 04/05/2025
Bank*Lender #1049
5 Year Fixed
25 Year Amortization
Interest rate 5.94% 5 Year Fixed
Mo. Payment$5,330 25 Year Amortization
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default. 52% LTV $0 Lender fees
Loan Amount $832,000 Loan Amount
Details
Bank*Lender #1049
7 Year Fixed
25 Year Amortization
Interest rate 5.96% 7 Year Fixed
Mo. Payment$5,238 25 Year Amortization
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default. 51% LTV $0 Lender fees
Loan Amount $816,000 Loan Amount
Details
Bank*Lender #1049
10 Year Fixed
25 Year Amortization
Interest rate 5.96% 10 Year Fixed
Mo. Payment$5,238 25 Year Amortization
Max LTV Max Loan to Value is determined by the participating lenders DSCR requirements and stated NOI for the property. If no NOI is present, a 5% Cap rate is used by default. 51% LTV $0 Lender fees
Loan Amount $816,000 Loan Amount
Details
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CommLoan is providing quotes for information purposes only. For additional information on the largest commercial real estate lending marketplace, visit: www.commloan.com.

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