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505 South Atlantic Drive

505 South Atlantic Drive, Lake Worth, FL 33462
Property in Hypoluxo Island
Sold Oct 07, 2020
$3,300,000
$2,310,000 by Citibank Na
Mortgage Due Oct 01, 2050
Sold Apr 04, 2013
Transfer
505 South Atlantic Drive in Lake Worth, FL was first built in 1994 and is 30 years old. This has been categorized as a residential property type. There are a total of 2 floors. In terms of bathrooms, there are a total of 4 full bathrooms. There are 4 partial bathrooms. 505 South Atlantic Drive has 4,649 sqft of living area. This is typically the area of a building that is heated or air conditioned and does not include the garage, porch or basement square footage. The linear feet across the front of the lot is 1,000 ft and the linear feet between the front and back of the lot is 2,780. In total, the area measurement of the land is 27,765 square feet.

Learn more about the property and building on this page. There is a unknown and a unknown. For those who love swimming as a form of exercise, you'll be excited to find out that there is a pool on the property. The home has a gable or hip style roof made of tile. For those who need parking, there is a attached garage. The garage is 754 sqft. There are a total of 3 available parking spaces. Fun fact, did you know that buildings can move due to weather changes? That's why, the type of control joints used in the construction of your home is extremely important. Based on our data, we know that the home was built with wood control joints. The quality of the control joints have been graded by the local assessor with a letter grade of A. The condition of the building has been evaluated as average. The exterior walls of the home are made of stucco. While the interior walls are made of gypsum boards such as those made of drywall, sheetrock, etc. Walk inside and you'll find flooring throughout the home. Walk into the home itself and you'll find that it is currently being cooled with central air conditioning. As for heating, the home is utilizing a forced air unit and being fueled with electricity. There is a fireplace in the home! Just imagine how amazing it would be to curl up in front of a cozy fireplace during those chilly winter nights. We've gathered and summarized the following transaction history in an effort to provide more transparency and up-to-date information for our users. According to our sources, 505 South Atlantic Drive sold most recently in Sep 30, 2020 for a total of $3,300,000. If you work out the math, that's approximately a cost of $579.96 per sqft. There could be many factors that caused the property to sell at a higher price and increase in value. Tax-wise, the current owner is expected to pay close to $71,407 in taxes each year. 505 South Atlantic Drive was most recently assessed in 2022. During this assessment, the property's total value was estimated to be about $3,582,552. Homeowners who care about taxes, will be happy to see that the property's total assessed value has been marked as less than the total market value. Speaking of costs, many buyers and sellers often forget to take into consideration the closing costs they may occur. Closing costs can stem from anything mortgage or property related to fees related to your property title. As you'll soon learn from our guide, fees can quickly add up hence why as a rule of thumb, we typically recommend setting aside at least 5% of the purchase price to cover potential closing costs. Don't worry, any additional you save up can always go towards your principal. Better safe than sorry!Sadly, this property is not available for sale but we are constantly updating our inventory in real time. Sign up for a RealtyHop account and add this property to your favorites to get updates on when this property is back on the market. Or alternatively, you can check back frequently for updates.

This property description is generated based on publicly available data.

Building Info

Overview

    General

  • Year Built: 1994
  • Effective Year Built: 1994
  • Building Count: 1
  • Bedroom Count: 0
  • Bathroom Count: 4
  • Full Bathrooms: 4
  • Partial Bathrooms: 4
  • Building Condition: Average
  • Building Quality: A
  • Construction Type: Wood
  • Exterior Walls Type: Stucco
  • Interior Walls Type: Gypsum board (drywall, sheetrock, etc.)
  • Roof Shape Type: Gable or hip
  • Roof Cover Type: Tile
  • Floor Count: 2
  • Living Units: 1
  • Floor Cover: Carpet
  • Basement Area: 0
  • Garage Type: Attached
  • Garage Square Area: 754
  • Parking Space Count: 3
  • Pool Type: Pool

    Dimensions

  • Lot Size Square Feet: 27,765
  • Lot Size Depth Feet: 2,780
  • Lot Size Frontage Feet: 1,000
  • Total Building Area: 5,690
  • Gross Building Area: 5,690
  • Building Area: 4,649
  • Building Area Measurement: Living Area

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: Central air conditioning
  • Heating: Forced air unit
  • Heated Square Feet: 4,649
  • Heating Fuel Type: Electricity

    Utilities

  • Sewer System: unknown
  • Water Service: unknown

Building

  • Property Class: Residential
  • Subdivision: HYPOLUXO ISLAND ADD
  • Land Acres: 0.637
  • Standard Land Use Code: Single family residential
  • Legal Description 1: HYPOLUXO ISLAND ADD LTS 45 & 46 & ELY 45.75 FT OF NE 1/4 LYG W OF & ADJ TO IN OR10486P215

Ownership

  • Current Owner : KREISBERG LOUIS
  • Current Owner 2: KREISBERG AMIE
  • Previous Owner : ARSALI AFSOON
  • Previous Owner 2: ARSALI FAMILY TRUST
  • Owner Before Previous Owner: LIBERTY TRUST LLC
  • Is Owner Occupied: Owner-occupied property

Neighborhood

  • School District Name: Palm Beach County School District
  • Census Tract: 005412

Zoning

  • Zoning: R1A

Geography

  • Assessors Map Reference: 283
  • Parcel: 40-43-45-03-01-000-0450
  • Lot: 45,46
  • Meridian: SEC 03 TWN 45S RNG 43E
  • Municipality: LANTANA
  • Latitude: 26.5799
  • Longitude: -80.0443

    Address

  • Full Address: 505 S Atlantic Dr
  • Address - House Number: 505
  • Street Direction: S
  • Address - Street Name: Atlantic
  • Address - Suffix Type: Dr
  • State: FL
  • City Name: Lake Worth
  • Carrier Code: C002
  • 4-Digit Zip Code: 1945
  • Zip Code: 33462

Valuation

    Tax

  • Total Area: 5,001
  • Tax Year: 2022
  • Tax Amount: $71,407
  • Tax Rate Code Area: 40534

    Appraisal Valuation

  • Standard Deviation: 0.2513
  • Valuation Date: Jan 03, 2024
  • Confidence Score: 64
  • Final Value: 5,380,244
  • High Value: 6,732,344
  • Low Value: 4,028,145

    Open Liens

  • Total Open Liens: 1
  • Total Open Liens Amount: $2,310,000
  • First Open Lien Mortgage Lender: CITIBANK NA
  • First Open Lien Mortgage Recording Date: Oct 07, 2020
  • First Open Lien Mortgage Financing Type: Adjustable Rate
  • First Open Lien Mortgage Loan Amount: $2,310,000
  • First Open Lien Mortgage Term: 360
  • First Open Lien Mortgage Position: 1
  • First Open Lien Mortgage Loan Type: New Conventional
  • First Open Lien Mortgage Loan Due Date: Oct 01, 2050

    Market Valuation

  • Market Total Value: $5,171,494
  • Market Land Value: $4,125,000
  • Market Improvement Value: $1,046,494

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $3,582,552

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Sep 30, 2020
  • Current Sale Recording Date: Oct 07, 2020
  • Current Sale Transaction ID: 11793174072
  • Current Sale Price: $3,300,000
  • Current Sale Document Type: Deed
  • Current Sale Input Document Number: 20200373433
  • Previous Sale Recording Date: Apr 04, 2013
  • Previous Sale Contract Date: Apr 04, 2013
  • Previous Sale Document Type: Warranty Deed

    Last Sale Mortgage

  • First Mortgage Lender: CITIBANK NA
  • First Mortgage Transaction Date: Oct 07, 2020
  • First Mortgage Loan Amount: $2,310,000
  • First Mortgage Terms: 360
  • First Mortgage Loan Type: New Conventional
  • First Mortgage Loan Due Date: Oct 01, 2050

    Financing

  • First Mortgage Financing Type: Adjustable Rate

About Hypoluxo Island



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Frequently Asked Questions

What neighborhood is 505 South Atlantic Drive located in?
The 505 South Atlantic Drive is a located in the neighborhood of Hypoluxo Island in Hypoluxo Island, Lake Worth.
What is the average sales price for listings in 505 South Atlantic Drive?
The average sales price for units in 505 South Atlantic Drive is $0 currently.

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