Building Description
Executive Summary
Positioned at 4160 42nd Avenue S in Lake Worth Beach, this approved 10-unit multifamily project presents a rare, build-ready opportunity on approximately 0.91 acres. Zoned RM (Residential Multifamily), the site offers immediate development potential, allowing buyers to avoid entitlement delays and move straight into construction.
The approved plans feature a modern, two-story building with a clean, contemporary façade and a well-designed unit mix of two two-bedroom/two-bath units and eight three-bedroom/two-bath units. With 80 % of the units configured as three bedrooms, the project attracts a more stable, long-term tenant base compared to typical studio or one-bedroom developments. Planned site amenities include a 50-foot by 50-foot recreation area and parking for up to 23 vehicles via a single-way loop off 42nd Avenue S, supporting strong functionality while maximizing income potential for long-term cash flow or future resale.
Surrounded by a mix of single-family and multifamily neighborhoods along the highly sought-after Lake Worth Road corridor, the property benefits from excellent access to major roadways, employment centers, retail, schools, and daily necessities. Nearby amenities include Publix, The Home Depot, Walgreens, Pollo Tropical, and more, enhancing overall livability and tenant appeal. The infill site is located west of Interstate 95, within a dense, growing residential area of Palm Beach County. Over 370,000 residents live within a 5-mile radius, with population growth projected through 2030 and renters accounting for roughly 40% of the local market, underscoring sustained multifamily demand.
Note: All financial data and projections are estimates based on current market conditions. The property is offered as-is with existing approvals, and buyers are responsible for verifying site plans, impact fees, and construction requirements with the City of Lake Worth and Palm Beach County.
Approved Uses by Zoning — District (RM - Multifamily Residential)
Uses permitted by right under the municipality’s zoning for this district. The property may carry additional restrictions (deed, association or lease), so tenants are responsible for confirming their intended use with the municipality and landlord before committing.
Allowed by right
Agriculture, Storage (DRO site-plan review), Bed and Breakfast (DRO site-plan review), Community Vegetable Garden, Electric Distribution Substation (DRO site-plan review), Large Family Child Care Home (DRO site-plan review), Minor Utility (DRO site-plan review), Park, Neighborhood Infill, Park, Passive (DRO site-plan review), Place of Worship (DRO site-plan review), Shade House, Type 1A Excavation, Type 1B Excavation (DRO site-plan review)
With special approval
Agricultural Excavation, Agriculture, Bona Fide, Assembly Institutional Nonprofit, Cemetery, Day Care General, Day Care Limited, Electric Transmission Substation, Golf Course, Government Services, Nursery, Retail, Nursery, Wholesale, Park, Public, Produce Stand, Renewable Energy Solar Facility, Renewable Energy Wind Facility, Rooming and Boarding House, School – Elementary or Secondary, Skilled Nursing or Residential Treatment Facility, Stable, Commercial, Stable, Private, Type 2 Excavation, Water or Wastewater Treatment Plant
Read the full RM - Multifamily Residential zoning guide ›
