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    1608 Lake Avenue

    West Palm Beach, FL 33401
    • $1,999,000
    • STATUS: Active
    • ON SITE: 290 days
    • ID#: RX-10561269
    UPDATED: 72 min ago
    $1,999,000
    • 0
      BEDS
    • 0.5
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 7,784
      SQFT
    • $257
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1925
    County:

    School Ratings & Info

    Description

    BACK ON THE MARKET and price reduced dramatically! ONE-OF-A-KIND, landmarked real estate opportunity in historic Palm Beach! This is the largest landmarked residence located in the popular Grandview Heights Historic District adjacent to downtown West Palm Beach, this property is located 5 blocks off the intracoastal waterway and is currently configured to be a spacious residence with 7 separate units (can be rented or combined for a one-of-a-kind estate). The main historic structure features 4967 square feet with 6 bedrooms 4 1/2 bathrooms. In addition, there is a separate 2817 square ft newer structure with 5 bed & breakfast units which feature ensuite bathrooms, outside private entrances, terraces and balconies. The current bed & breakfast operation at the property,Grandview Gardens Bed & Breakfast, is one of the highest-rated public lodging facilities in the state, however new owner can combine the entire property if they wish, to create an iconic residence on one of the largest residential lots in all of Palm Beach. If the buyer wishes to maintain the Bed and Breakfast, this real estate purchase includes the historic property and its loyal client base, 100+ 5-star reviews across a multitude of third party hotel booking syndicates, and over 400 positive reviews on TripAdvisor alone. The public school district for this property includes Palm Beach Public Elementary on Palm Beach island, the highest rated elementary school in Palm Beach County. One of the highest rated high schools in Florida, Alexander W. Dreyfoos School of the Arts, is walking distance. IMAGINE owning a historic Palm Beach estate, so charming, unique and rich with history that visitors have described it as ''the Secret Garden of the Palm Beaches'' and ''Enchanting from the moment you step foot on the property''. Nestled back in a tropical garden setting on a beautiful tree lined street, this historically landmarked 1925 Mediterranean Revival has been carefully restored and transformed into one of the Palm Beach area's most unique, intimate resort/residences. Lush, tropical gardens and a quaint winding path leads guests to the romantic picturesque entrance of the estate. Upon entering the property, be prepared to be swept away by the vaulted foyer/living room exuding historical charm through the pecky cypress finishes and the focal coral stone fireplace. The formal dining space and breakfast loggia showcase the continuation of Spanish Mediterranean influences throughout the home. The wood and teracotta floors and arched doorways flowing throughout the estate are some examples of the periodic architectural details prevalent in the home. There are laundry facilities and a two car garage with plenty of parking on the quiet street. Located along Howard Park in Grandview Heights, one of West Palm Beach's most desirable downtown neighborhoods with easy access (5-10 min) to Palm Beach and the beaches. Walking distance to the main attractions of downtown West Palm Beach, including City Place, Himmel Theater, Kravis Center for the Performing Arts, The Norton Museum of Art, and an abundance of excellent cuisine!. As an option, buyers can also add the property at 734 Palm Street next door for 3 more additional bedrooms for $400,000. Listed separately but can be part of total B&B operation.

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    www.westpalmhomesearch.com/homes/98979161
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    1608 Lake Avenue West Palm Beach, FL 33401

    • Price: $1,999,000
    • Status: Active
    • Updated: 72 min ago
    • ID#: RX-10561269
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.5
    Acres
    7,784
    SQFT
    $257
    $/SQFT
    1925
    Built
    Neighborhood:
    Grandview Heights
    County:
    Palm Beach
    Area:
    West Palm Beach
    Property Description
    BACK ON THE MARKET and price reduced dramatically! ONE-OF-A-KIND, landmarked real estate opportunity in historic Palm Beach! This is the largest landmarked residence located in the popular Grandview Heights Historic District adjacent to downtown West Palm Beach, this property is located 5 blocks off the intracoastal waterway and is currently configured to be a spacious residence with 7 separate units (can be rented or combined for a one-of-a-kind estate). The main historic structure features 4967 square feet with 6 bedrooms 4 1/2 bathrooms. In addition, there is a separate 2817 square ft newer structure with 5 bed & breakfast units which feature ensuite bathrooms, outside private entrances, terraces and balconies. The current bed & breakfast operation at the property,Grandview Gardens Bed & Breakfast, is one of the highest-rated public lodging facilities in the state, however new owner can combine the entire property if they wish, to create an iconic residence on one of the largest residential lots in all of Palm Beach. If the buyer wishes to maintain the Bed and Breakfast, this real estate purchase includes the historic property and its loyal client base, 100+ 5-star reviews across a multitude of third party hotel booking syndicates, and over 400 positive reviews on TripAdvisor alone. The public school district for this property includes Palm Beach Public Elementary on Palm Beach island, the highest rated elementary school in Palm Beach County. One of the highest rated high schools in Florida, Alexander W. Dreyfoos School of the Arts, is walking distance. IMAGINE owning a historic Palm Beach estate, so charming, unique and rich with history that visitors have described it as ''the Secret Garden of the Palm Beaches'' and ''Enchanting from the moment you step foot on the property''. Nestled back in a tropical garden setting on a beautiful tree lined street, this historically landmarked 1925 Mediterranean Revival has been carefully restored and transformed into one of the Palm Beach area's most unique, intimate resort/residences. Lush, tropical gardens and a quaint winding path leads guests to the romantic picturesque entrance of the estate. Upon entering the property, be prepared to be swept away by the vaulted foyer/living room exuding historical charm through the pecky cypress finishes and the focal coral stone fireplace. The formal dining space and breakfast loggia showcase the continuation of Spanish Mediterranean influences throughout the home. The wood and teracotta floors and arched doorways flowing throughout the estate are some examples of the periodic architectural details prevalent in the home. There are laundry facilities and a two car garage with plenty of parking on the quiet street. Located along Howard Park in Grandview Heights, one of West Palm Beach's most desirable downtown neighborhoods with easy access (5-10 min) to Palm Beach and the beaches. Walking distance to the main attractions of downtown West Palm Beach, including City Place, Himmel Theater, Kravis Center for the Performing Arts, The Norton Museum of Art, and an abundance of excellent cuisine!. As an option, buyers can also add the property at 734 Palm Street next door for 3 more additional bedrooms for $400,000. Listed separately but can be part of total B&B operation.
    Exterior Features

    Construction Cbs Miles To Beach 2 Roof Comp RolledOther Waterfront Description None Waterfront YN No

    Interior Features

    Bath Toilets 9.00 Cooling Ceiling FanCentralElectric Flooring Ceramic TileWood Floor Heating CentralElectric Miscellaneous1 Kitchen FacilitiesLandscapedLaundry Miscellaneous2 Manager On PremisesMeeting RoomOfficePool Offices 2 Percent Air Conditioned 100.00

    Property Features

    Available Docs Occupational LicenseSurvey Available Info Books & RecordsContractsInventoryOwner ManagedPhotosTax ReturnTraining Program Built Desc Resale Contingents AppraisalFinancing Fire Protection Smoke DetectorSprinkler For Lease No For Sale Yes Lease None List Office Board Code Realtor Association Of The Palm Beaches (Rapb) Location Airport AccessCitySubdivision Monetary Info Gross Oper Income 490000.00 Monetary Info Net Oper Income 180000.00 Monetary Info Source Of Expenses Books Monetary Info Total Expenses 210000.00 Possession At ClosingNegotiable Sale Includes Building And LandEquipmentFixturesFurnitureInventoryLicenseToolsTrade Name Security None Tax Amount Real Estate Taxes 13205.00 Tax Year 2018 Tenant Pays None Terms Considered CashConventional Type Of Building Free StandingHotel / MotelIncomeResident. Single FamSpecial Purpose Use Hotel/ MotelIncomeOther Utilities CableElectricPublic Water

    Listing provided courtesy of Compass Florida Llc. Listing information © 2020 BeachesMLS
     
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    Ryan Jennings Group at Keller Williams Realty
    12008 South Shore Blvd.
    Wellington FL, 33414