Flip opportunity in Desirable Equestrian Prop in Palm Beach, FL

[Laura Renner]

This property is located in the Palm Beach Polo Development of Wellington, Florida of Palm Beach County. The neighborhood across the street is where Bill Gates has swooped up 6 properties.  There are many horse stables and barns in walking distance, for equestrian lovers that want their loved horses well kept for 24 hours without having to be on directly on the property.  Views of the Palm Beach Polo Club from the property.

Financial: Asking price $1,350,000.  

Built 1988

Sq. ft- 8,400,  Living Sq. ft 7030

5 Bed, 5 1/2 Bath plus attached Studio/future in-law suite

Pool, outdoor sauna room, cabana bath

1 Acre Lot

Construction: Frame/Stucco

Estimated Remodel to update: $75,000-150,000 (if using higher end products)

ARV: $1,600,000-1,800,000+ (depending on scope of remodel)

Properties in this area range up to $20++ M

Rental Rates during season $25-35,000/mo. for estates of this size.

Owners have done the following recently:

• 5 Ton TRANE AC unit installed 2015
• Pool resurfaced in 2015
• Garage doors installed 2015
• House and patio - new roof 2008
• There is an 800 square foot unfinished area which could be converted into a mother-in-laws apartment (plumbing for bathroom and kitchen available, also location of this space makes separate entrance convenient)
• Second floor deck can be built above existing patio (one was there originally, current owners took it down when they redid the roofing. Were going to rebuild but could not due to financial reasons)
• Room on property for addition of a horse stable
• Location of property within short distance to horse show...(and everything else you need)
• Close to Wellington Amphitheater, numerous community parks, horse trails, bike paths, Wellington Mall and restaurants
• Peaceful area surrounded by nature...yet close access to everything..
• Low HOA fees - $205 per quarter
• Zoned for excellent Wellington schools, top rated in Palm Beach County.
• Wood burning fireplace, built in bar
• Beautiful sunsets!
• Abundant closet/storage areas
• Backs to immaculately maintained riding track

  Please contact me for more information and market comparable sales.

I have just accepted this property as a listing but have not placed on the public MLS yet. We are in the process of getting professional photographs together. You have the opportunity to buy it pre-market.

image:  The red X is the property.  

Horse- Stables/Barns

Circle- 6 propertjes recently purchased by Bill Gates