NORTHWOOD HARBOR – HISTORIC DISTRICT OPPORTUNITY | TRIPLEX WITH UPSIDE
An exceptional opportunity in the rapidly evolving Northwood Harbor Historic District—just moments from the waterfront, dining, and major hospitality developments including the announced Mandarin Oriental nearby and popular neighborhood destination La Marina.
Offered at $635,000, this income-producing property spans 523, 525, and 521 48th Street and is currently configured as a functioning triplex (duplex + separate cottage/home) with carport parking and strong rental readiness.
KEY HIGHLIGHTS
• Fully functioning triplex with flexible configurations
• Immediate rental income potential (ready for tenants)
• Carport parking and multiple private entries
• Located in a designated historic district with growing value protection
• Steps from waterfront, dining, and lifestyle amenities
• Strong upside driven by neighborhood redevelopment and hospitality expansion
VALUE-ADD STRATEGY
• Convert front two units into a single-family residence
• Retain rear cottage as a separate income-producing rental
• Or maintain full triplex structure for maximum cash flow strategy
INVESTMENT APPEAL
This is a rare blend of current cash flow + future redevelopment upside in one of West Palm Beach’s most rapidly appreciating corridors. Ideal for:
• Investors seeking stabilized income
• End-users wanting a flexible live/work conversion
• Value-add repositioning plays in a high-growth district