151 Grace Trail #4
About This Property
The moment you enter the courtyard of Bienestar you are transported to the tropical paradise of old Palm Beach. One of only two grand mansions which have been converted to a condominium, Bienestar is a 1924 Marion Sims Wyeth home, located at the end of a private road behind the St Edwards Parish Center. Renovated and expanded in the mid 1980's, the structure is landmarked. Unit 4 is the largest of the 6 units with 2,701 SF of living space. Featuring 3 bedrooms and 3 baths with full-run front and rear loggias, the property offers expansive interior and exterior entertaining spaces. The Sellers undertook an extensive renovation in 2014 to bring the space up to current code including, replacing the AC, hot water heater, all electrical and wiring, replacing the 3 bathrooms and the kitchen, restoring moldings, custom casework and installing a new bar and laundry.
The location can't be beat. Walk to Amici, Greens, Chez Jean Pierre, Trevini and Publix or any of the local merchants within a 2-block walk. Or if you prefer, walk a ½ a block down Root Trail to beach access, 3 blocks to The Royal Poinciana Plaza, or the Breakers! More importantly, Unit 4 is perfectly situated on the property by the pool, the garage and the Tea House and south lawn.
The full-time property manager offers owners a turn-key lifestyle whether they are year-round or seasonal. This is one of the best kept secrets and most unique condominium properties in Palm Beach. Not to be missed.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Dec 28, 2020 | Sold | ||
| Sold | |||
| Jan 17, 2020 | Listed by Douglas Elliman | $3,495,000 | |
| Listed by Douglas Elliman | |||
Property Highlights
Comparables
Status
Price/ft²
Listed On
Sold On
Past Sales
| Date | Unit | Beds | Baths | Sqft | Price | Closed | Listed By |
|---|---|---|---|---|---|---|---|
|
01/17/2020
|
3 Bed
|
3 Bath
|
2701 ft²
|
$3,495,000
3 Bed
3 Bath
2701 ft²
|
$3,300,000
-5.58%
12/28/2020
|
Burt Minkoff
Douglas Elliman
| |
|
10/10/2019
|
3 Bed
|
3 Bath
|
2108 ft²
|
$2,700,000
3 Bed
3 Bath
2108 ft²
|
$2,450,000
-9.26%
09/10/2020
|
Laura L Balas
RE/MAX Ocean Properties
| |
|
06/28/2018
|
3 Bed
|
4 Bath
|
2145 ft²
|
$3,490,000
3 Bed
4 Bath
2145 ft²
|
-
-
|
-
| |
|
04/14/2017
|
2 Bed
|
2 Bath
|
2491 ft²
|
$3,100,000
2 Bed
2 Bath
2491 ft²
|
$3,050,000
-1.61%
06/09/2017
|
Christian James Angle
Christian Angle Real Estate
| |
|
10/20/2014
|
2 Bed
|
2 Bath
|
1834 ft²
|
$2,300,000
2 Bed
2 Bath
1834 ft²
|
$2,250,000
-2.17%
05/12/2015
|
JB Edwards
Sotheby's Intl. Realty, Inc.
|
Building Info
About Grace Trail
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