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Fully Renovated Income Property in Delray Beach, FL

Two-building apartment complex with nine leased units, new roof, HVAC, pool, and prime Delray Beach location.

$3,550,000

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MLS #A11810309

Listing Updated: 2026-07-13 18:35:39

Listed By: Blue Water RE LLC

Overview

This fully renovated apartment complex in Delray Beach offers two buildings with nine rental units, all leased under a master lease. Recent upgrades include a new roof, hurricane impact doors and windows, updated plumbing, HVAC systems, electrical panels, and appliances. The property features a new pool with paver hardscape and landscaping, along with a resurfaced parking lot. Located minutes from Downtown Delray Beach, it benefits from convenient access to supermarkets, drug stores, and the free Delray Beach ride share. The master lease tenant operates with a hotel license allowing short-term rentals, providing a unique operational advantage.

Property Highlights

Two buildings with nine fully leased rental units, new roof, hurricane impact doors/windows, updated plumbing and HVAC, new pool and landscaping, resurfaced parking, close to Downtown Delray Beach, master lease with hotel license for short-term rentals.

Property Details

City: Delray Beach

State: FL

Zip Code: 33483

Address:

Year Built:

Property Type: Commercial Sale

Property Sub Type: Income/MultiFamily

Listing Office Name: Blue Water RE LLC

County: Palm Beach County

Garage Spaces:

Parking Features: Common

Interior Features:

Exterior Features:

Waterfront: No

Pool: No

HOA Fee: $0

Annual Tax: $26,010

Days On Market: 421 Days

Original Listing Description

Fully renovated apartment complex located in prestigious Delray Beach. This complex consists of two buildings with nine rental units. All units are fully leased under a master lease. The owner pays property tax and insurance. Renovation included new roof, hurricane impact doors and windows. All new plumbing, new HVAC systems, new electrical panels and appliances. New pool with paver hardscape and landscaping. Resurfaced parking lot. This is an excellent opportunity that you don't want to miss. Located minutes from Downtown Delray, within the free Delray beach ride share, and walking distance to supermarket and drug store. Investors can purchase a fully leased apartment complex with excellent tenant. Master lease tenant is operating with a hotel license for short term rentals

Property Location

Explore the surrounding area, nearby amenities, and neighborhood access for this property.

About This Neighborhood

Situated in the prestigious Delray Beach area, this property benefits from a vibrant community known for its cultural attractions and coastal lifestyle. The neighborhood offers convenient access to shopping, dining, and entertainment options, alongside proximity to beaches and waterfront areas. Residents and tenants enjoy the balance of a lively urban environment with the charm of a coastal town. The property’s location within walking distance to essential services enhances its appeal for renters and owners alike.

Walkability & Lifestyle

The property is located within walking distance to supermarkets and drug stores, enhancing daily convenience for residents. The free Delray Beach ride share service further supports easy local transportation. Nearby, residents can enjoy a walkable environment with access to restaurants, shops, and recreational areas. This walkability contributes to a comfortable lifestyle, reducing dependence on vehicles for everyday errands and leisure activities.

Things To Do Nearby

Delray Beach offers a variety of activities including waterfront dining, beach outings, and cultural events. Residents and visitors can enjoy boating, golfing, and exploring local parks. The area’s vibrant downtown provides entertainment, shopping, and nightlife options. This blend of outdoor and urban amenities creates an engaging lifestyle for tenants and property owners alike.

Nearby Schools

Delray Beach offers access to a variety of educational institutions ranging from primary to secondary schools. Families residing in the area benefit from convenient school options within reasonable commuting distances. The neighborhood supports educational needs with both public and private school choices, contributing to the community’s family-friendly environment. This accessibility is an important consideration for residents and investors alike.

Why Buyers Like This Area

Buyers appreciate this property for its turnkey condition, full lease status, and strategic location near Downtown Delray Beach. The recent renovations reduce immediate maintenance concerns, while the master lease with hotel license provides operational flexibility. The neighborhood’s amenities and walkability enhance tenant appeal, making it suitable for investors seeking a stable multifamily asset in a sought-after Florida coastal community.

Investment Potential

This apartment complex presents a stable income opportunity with all nine units fully leased under a master lease. The property's recent renovations, including structural and system upgrades, reduce maintenance concerns. Its location near Downtown Delray Beach and access to local amenities supports tenant demand. The master lease tenant’s hotel license for short-term rentals adds operational flexibility, appealing to a diverse tenant base. This combination of features makes it a noteworthy option for investors seeking a turnkey multifamily asset in a desirable Florida market.

Market Trends

Delray Beach continues to attract steady demand in the multifamily housing market due to its desirable location and lifestyle amenities. Inventory for well-maintained, fully leased properties remains limited, supporting investor interest. Renovated complexes with modern features and convenient access to Downtown Delray Beach are particularly sought after. Market trends indicate sustained appeal for properties that combine quality upgrades with strong tenant occupancy in this region.

Rental Income Potential

The property’s full lease status under a master lease provides immediate rental income stability. The tenant’s hotel license allows short-term rental operations, which can attract a broader range of occupants, including seasonal visitors. Its proximity to Downtown Delray Beach and local amenities enhances rental desirability. While rental income can vary seasonally, the property’s condition and location support consistent tenant interest and usability for various rental strategies.