Ocean Ridge Investment Properties & Multifamily for Sale
The best Ocean Ridge investment decision starts before you buy.
Live BeachesMLS listings matching this search in Ocean Ridge, Florida, updated throughout the day.
Income property in Ocean Ridge is a handful of small buildings on the cottage streets near the beach: a triplex on Tropical Drive on a lot zoned for more than one unit, a quadruplex of one-bedroom units on Adams Road a minute from a deeded beach path, and a renovated duplex on Fayette Drive that leases furnished by the season. The return comes from winter tenants rather than annual ones, so ask for the rent roll by month, the furnishings inventory and the town's rules on lease length. Many are also bought as redevelopment sites, so an Ocean Ridge investor compares the income with what the lot would fetch rebuilt as a single house.
2 listings, newest first.
$1,395,000
14 Tropical Drive, Ocean Ridge FL 33435
0 ba · 1,735 sq ft · Triplex
$1,974,999
18 Adams Road, Ocean Ridge FL 33435
4 ba · 2,208 sq ft · Quadruplex
What Investors Buy in Ocean Ridge
An Ocean Ridge investor buys one of three things. The first is a small income building on the cottage streets near the beach, a triplex on Tropical Drive or a quadruplex on Adams Road, leased furnished to winter tenants and valued as much for its lot as for its rent. The second is a cottage or a seventies house bought to replace, on a lot whose zoning, flood elevation and beach path easement are checked before the offer. The third is a condo or co-operative unit held for an annual or seasonal tenant, where the board's leasing rules decide whether the plan works at all. Each depends on the town's permits and the association's rules more than on the finish of the building.
Reading the Numbers in Ocean Ridge
The numbers on an Ocean Ridge income property are seasonal, so read the rent roll by month rather than by year: a furnished unit near the beach earns most from January through April, less in the summer and sometimes nothing between tenants. Set against it the insurance in a flood zone on a barrier island, the wind coverage, the furnishings and the turnover cost of short leases, and for a condo or co-operative unit the monthly fee and any assessment. Then compare the result with what the lot would fetch rebuilt as a single house, because in Ocean Ridge the land under a small building is often the larger part of its value. We underwrite each with you before you offer, and we suggest you consult a lender early about financing a multi-unit or co-operative purchase.
The Numbers on These Listings
Straight from the MLS, updated through the day. Income and capitalization rates are what the listing agent published, not audited figures: treat them as the start of underwriting, and ask for certified operating statements before you offer. No agent on this page has published operating income, which is normal for smaller buildings; ask BreakThru Realty and we will request the rent roll.
| Property | Price | Units | Per unit | Income | Cap rate | Taxes | HOA | Days on market |
|---|---|---|---|---|---|---|---|---|
| 14 Tropical Drive (reduced from $1,495,000) | $1,395,000 | 4 | $348,750 | — | — | $20,360 | — | 112 days |
| 18 Adams Road (reduced from $2,500,000) | $1,974,999 | 4 | $493,750 | — | — | $18,160 | — | 570 days |
Get Ocean Ridge Investment Listings the Day They Reach the Market
BreakThru Realty sends new income property matching this search as it comes on the market, and will underwrite any listing with you: the rents in place, the taxes as they reset on sale, insurance quoted today, and what comparable buildings actually traded for.
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More Ocean Ridge Real Estate
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