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502 Se 3rd Avenue, Delray Beach, FL 33483

$980,000
: 4
BD
: 2
BA
: 1,458
SqFt

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List Price: $980,000
Price Change: ▼ $20,000 1786496366
MLS#: B26029760
Subdivision: Osceola Park
Status: ACTIVE
Type: Single Family Residential
Bedrooms: 4
Full baths: 2
Living Area: 1,458

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Property Description

Lot play, not a house sale. Corner lot, 6,510 SF, R-1-A, no HOA, two to three blocks south of Atlantic, walk or bike to the beach. FEMA Zone X. City and CRA street, alley, sidewalk, lighting, and utility work is done. New homes on the block are trading around $2.3M-$3.7M. The 1986 ranch, 1,458 SF, is the teardown, which is why the house price per foot is not the underwriting. Reduced to $980,000, about $151 a land foot. Cover and tour images of a new house are renderings for vision only, not the existing improvement and not an approved plan. Buyer to verify setbacks, coverage, and height with the City of Delray Beach. Cash or conventional. Build in one of East Delray's last downtown-adjacent grids where demand still outpaces available dirt. Osceola Park is the SOFA grid, south of Atlantic. The City and the CRA rebuilt the streets starting in 2020: paved roads and alleys, sidewalks, LED lighting, traffic calming, and new water and sewer, including this quadrant between Southeast 2nd and Southeast 5th Avenues. Builders followed. Modern 3,200-4,000 square foot homes are rising on the same blocks, with finished product offered from about $2.3 million to $3.2 million. From this corner, Atlantic is two to three blocks north and the ocean is a short walk or bike ride east. The opening is a corner lot that has not been rebuilt yet, on a grid where the city work is done and the new houses are already selling. Buyer to verify setbacks, coverage, and height with the City of Delray Beach.Private appointments only. No drop-ins. Investment highlights Lot play, not a house sale. Price the land. 6,510 SF corner, 0.15 acres, R-1-A, no HOA, no association rental restriction Two to three blocks south of Atlantic. Walk or bike to the beach Public infrastructure already spent: CRA / City streets, alleys, sidewalks, lighting, water and sewer Builder proof on the block. New homes trading and shells going up around $2.3M-$3.2M One of the last downtown-adjacent quadrants not fully rebuilt. Northeast Atlantic and the marina are largely done Existing ranch is a teardown canvas Cash or conventional. Showings by appointment

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Additional Information

Days on Market: 144
Tax Amount: $2,194
Parcel Number: 12434621010060100
Bedroom Description: At Least 1 Bedroom Ground Level, Primary Bedroom Ground Level
Front Exposure: North
Lot Size: 6,510
Pet Restrictions: Yes
Pets Allowed: Yes
Address: 502 Se 3rd Avenue, Delray Beach
Elementary School: Pine Grove
SqFt Liv Area: 1,458
Year Built: 1986
Design: Ranch, One Story
Development Name: Osceola Park
Style: House
Middle School: Carver; G.W.
Senior High School: Atlantic
Restrictions: No Restrictions
Interior Features: Split Bedroom