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$495,000

For Sale - Active
6520 N Ocean Blvd Apt 9, Ocean Ridge, FL 33435
2 Beds
1 Bath
731 Square Feet
0.00 Acres Lot
Built in 1964
For Sale - Active
Units n/a
Checked: 18 hours ago
Updated: Sep 11, 2025 at 07:15PM

Investment Summary


Monthly Cash Flow
-$1,790
Cap Rate
1.8%
Cash-on-Cash Return
-18.9%
Debt Coverage Ratio
0.29
Internal Rate of Return (5 years)
-14.2%

Property Description


0.00 Acres Lot
Built in 1964
For Sale - Active
Units n/a

Experience the ultimate beach feel in this fully renovated 2-bedroom, 1-bath condo, perfectly situated for an idyllic coastal lifestyle. Nestled directly across the street from the beach and backing up to a serene Intracoastal Waterway lagoon, this home offers the best of both worlds. The combined living, dining, and kitchen areas create an open and airy atmosphere, with a sliding door providing seamless access to your private patio--the perfect spot to enjoy your morning coffee while taking in the stunning, tranquil sunsets. Convenience is key, with a laundry area neatly tucked inside the unit.

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Location


Property Details


Parking

  • Details: Assigned, Guest
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Partial): 0
  • # of Baths (Total): 1.0

Interior Features

  • # of Stories: 2

Exterior Features

  • Roof Material: Tar/Gravel

HOA

  • Has HOA: Yes
  • HOA Fee: $880/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 46434522150000090
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 1964

Tax Information

  • Annual Tax: $4,505

Utilities

  • Water & Sewer: Public
  • Heating: Central, Electric
  • Cooling: Central Air, Ceiling Fan(s), Electric

Location

  • County: Palm Beach

Listing Details


Listed by:
Jeff Tricoli
KW Reserve Palm Beach
(561) 220-6866

Source:
BeachesMLS
MLS#: R11113715
BeachesMLS

Investment Summary


Monthly Cash Flow
-$1,790
Cap Rate
1.8%
Cash-on-Cash Return
-18.9%
Debt Coverage Ratio
0.29
Internal Rate of Return (5 years)
-14.2%

Purchase Details

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Purchase price:
$495,000
Amount financed:
-$396,000
Down payment:
$99,000
Closing costs:
$14,850
Rehab costs:
$0
Initial cash invested:
$113,850
Square feet:
731
Cost per square foot:
$677
Monthly rent per square foot:
$3.97

Financing Details

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Loan amount:
$396,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$2,536
Property tax:
$375
Insurance:
$203
Private mortgage insurance (PMI):
$0
Monthly payment:
$3,114

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,900 $34,800
Vacancy loss: (6%)
6% -$174 -$2,088
Operating income:
$2,726 $32,712

Operating Expenses


% Rent Monthly Yearly
Property taxes: (13%)
13%-$375-$4,505
Insurance: (7%)
7%-$203-$2,436
Property management: (8%)
8%-$232-$2,784
Repairs & maintenance: (5%)
5%-$145-$1,740
Capital expenditures: (5%)
5%-$145-$1,740
HOA fees: (30%)
30%-$880-$10,560
Total operating expenses: (68%)
68%-$1,980-$23,765

Cash Flow


Monthly Yearly
Net operating income:
$746 $8,952
Mortgage payments:
-$2,536 -$30,432
Cash flow:
-$1,790 -$21,480