4812 Coconut Rd, Lake Worth, FL 33461

Property Description

NEARLY ONE ACRE. MULTIFAMILY ZONING. BUILD YOUR NEXT INVESTMENT. With no HOA, multiple development options, and an existing home offering potential rental income while you plan, this property gives investors flexibility to pursue their next project. Per the County Planning Division, MF zoning permits 8 dwelling units per acre, with the opportunity to increase density to 12 units per acre through the purchase of additional transferable development rights (TDRs). Explore duplexes, triplexes, quadplexes, or subdivision into individual single-family lots. A maximum building height of 35 feet may accommodate three stories, depending on architectural design. Final unit count and configuration are subject to exact acreage, site requirements, and applicable approvals. The existing 3-bedroom, 2-bath home offers approximately 2,132 square feet of living space and a unique layout with rental possibilities. Features include a two-car garage with hurricane-impact-rated doors, a plumbing hookup for a third bathroom, updated PVC plumbing, and a generator hookup. Per seller, the roof, A/C, electrical panel, and water heater are approximately two years old. City water is available. Offered for its land and development value and location. Located minutes from Lake Worth Beach and Pier, Downtown Lake Worth Beach for dining, arts and festivals, near Palm Beach International Airport, JFK Medical Center, Palm Beach College, John Prince Park, Lake Osborne and Wellington Equestrian Area.