1940 BEACH Avenue
About This Property
The lot is situated on one of the highest points in Atlantic Beach, providing not only breathtaking views but also the advantage of natural elevation. The 19th St beach access is just a leisurely stroll away, making it a breeze to enjoy the sun, surf, and sand whenever you please.
Interestingly, this property was previously owned by the renowned architect William Morgan and his wife Bunny. Mr. Morgan even designed an unused home specifically for this lot, and those drawings are available for your considerati considerati
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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 |
|---|---|---|---|
| Jun 24, 2024 | Sold | ||
| Sold | |||
| May 12, 2024 | In contract | - | |
| In contract | |||
| Apr 29, 2024 | Listed by COMPASS FLORIDA LLC | $1,449,000 | |
| Listed by COMPASS FLORIDA LLC | |||
| | |||
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What an incredible opportunity! The potential of this Atlantic Beach lot is truly exciting, especially with its unobstructed ocean views and prime location. The generous size of 0.14 acres provides ample space for creating a dream coastal home. The unique advantage of natural elevation due to its location on one of the highest points in Atlantic Beach is a significant selling point, offering not only stunning views but also potential protection from flooding and other coastal concerns. The proximity to the 19th St beach access adds to the allure, making it convenient for future residents to enjoy the beach and all it has to offer.The history of the property, having been previously owned by the renowned architect William Morgan, and the availability of his designs specifically tailored to this lot, adds an intriguing and prestigious element to the property's story. With limited land in Atlantic Beach, seize the chance to build your own piece of Atlantic Beach paradise.
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| Mar 31, 2023 | Listed by KELLER WILLIAMS REALTY ATLANTIC PARTNERS SOUTHSIDE | $1,500,000 | |
| Listed by KELLER WILLIAMS REALTY ATLANTIC PARTNERS SOUTHSIDE | |||
| Aug 1, 2016 | Sold | ||
| Sold | |||
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About Beaches
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Last Updated: 2 years ago
Data Source: Real MLS, MLS# 1219907
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Address: 335 Madison Avenue, New York, NY 10017