980 N Ocean Boulevard
About This Property
Significant opportunity offering expansive wide water views with nearly 240 feet of direct oceanfront living.
Designed by Marion Sims Wyeth, in 1947 for Philip Danforth Armour III, this impressive home offers 12,062 total square feet and a long history amongst the Palm Beach elite. In 1971, the home was purchased by noted fashion designer and Preservationist Philip Hulitar and his wife Mary. Hulitar, a multi-faceted artist, his work extended from the high society fashion world in New York to painting, sculpture and restoring some of the great homes of Palm Beach. His influence can be seen in the beauty of the home today, making it a rare opportunity for the discerning buyer or investor.
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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 |
|---|---|---|---|
| Apr 9, 2019 | Sold | ||
| Sold | |||
| Nov 30, 2017 | Listed by Douglas Elliman | $37,500,000 | |
| Listed by Douglas Elliman | |||
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About Palm Beach
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017