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5314 Lake Avenue, West Palm Beach, FL 33405 (MLS# R10814271)

5314 Lake Avenue, West Palm Beach, FL 33405

$352,000

Virtual Tour

https://www.propertypanorama.com/5314-Lake-Avenue-West-Palm-Beach-FL-33405/unbranded

Property Type: Residential Bedrooms: 2 Baths: 1 Square Footage: 1,118 Status: Closed

Current Price: $352,000 List Date: 8/22/2022 Last Modified: 5/30/2026

Overview

Description

Great investment or starter home for anyone looking to create a passive stream of income. Priced below market value, so new owners will immediately have equity (home appraised at 369k). This property offers the opportunity to convert the detached structure into a rental property, office space, mother-in-law suite... the possibilities depend on your creativity. Potential earnings are estimated around $3000/month and above (ask me how). That's potentially around $36k a year and a cap rate of 7%!! Brand new solar panels installed 2022, electricity bill historically as low as $70/month for both properties and comes with 25 year warranty. New A/C unit installed in 2019!! Sprinkler System on Well - overall saving you tons of $$$ on your overhead!!! The main home is a 2 bedroom 1 bath featuring.

Supplements: The main home is a 2 bedroom 1 bath featuring a huge private fenced yard with spacious covered patio and outdoor kitchen. Freshly painted inside and out, new and beautiful sod and landscape boasting 2 avocado, 2 mango trees, and space for a pool/RV/Boat! Complete set of Hurricane Panels for home included. 1 year transferable termite bond also inclu ... (Read more)

Listing Details MLS# R10814271

General Property Information

Property Sub Type: Single Family Residence
Bedrooms Total: 2
Bathrooms Total: Yes
Bathrooms Full: Yes
Building Area Main: 1118
Building Area Source: Public Records
Living Area Main: 672
Year Built: 1947
Carport YN: Yes
Attached Carport YN: Yes
Gated Community YN: No
Lot Size Area: 5225
Lot Size Acres: 0.12
Lot Size Dimensions: 55.0 ft x 95.0 ft
Senior Community YN: No
Outdoor Living Spaces YN: Yes
Stories Total: Yes
Stories: Yes
Direction Faces: West
Pool Private YN: No
Furnished: Unfurnished

Property Features

Dining Area: Dining/Living Room Electric: 220 Volts; Three Phase Flooring: Laminate Parking Features: On Street; Attached Carport Property Condition: Resale Appliances: Dryer; Electric Range; Microwave; Refrigerator; Washer Construction Materials: Aluminum Siding; Block Cooling: Central Air Fencing: Fenced Green Energy Generation: Solar Heating: Central; Electric; Solar Interior Features: Bedroom Layout - Stacked; Storage Laundry Features: Inside; Outside Listing Terms: Cash; Conventional; FHA Lot Features: Fruit Tree(s); Room for Pool Other Structures: Shed(s) Pets Allowed YN: Yes Pets Allowed: No Restrictions Possession: Close Of Escrow; Negotiable Restrictions: No Restrictions Roof: Composition; Shingle Sewer: Public Sewer Special Information: Sold As-Is Sprinkler Description: Auto Sprinkler Storm Protection Details: Storm Shutters Tax Information: City/County; No Homestead Utilities: Sewer Available; Water Available Water Access: None Water Source: Public Showing Requirements: Combination Lock Box; Schedule Online Outdoor Living Spaces: Patio; Porch Patio Details: Patio - Open Porch Details: Porch - Open Contingencies: Financing Concessions Detail: Closing Costs; Other Room Types: Kitchen; Laundry; Living Room; Master Bedroom Acreage Description: Less Than 1/4 Acre Lot

Contract Information

Comp Sale YN: No
Original List Price: 369000

Location and Legal

County Or Parish: Palm Beach
County Parish Name: Palm Beach
Street Number: 5314
Street Name: Lake
Street Suffix: Avenue
City Name: West Palm Beach
State Or Province: FL
Postal Code: 33405
Postal Zip: 33405
Subdivision Name: SOUTHERLY HILL
Area: 5430
Geographic Area: PB20
Elementary School: Palmetto (Palm Beach)
Middle Or Junior School: Conniston Community
High School: Forest Hill
Special Assessment YN: Yes
Parcel Number: 74434404120000562
Zoning: SF7(ci
Directions: From I-95 S, exit on Summit Ave, make a right on Summit Blvd, left on Lake Ave. It is on the right.

Financial Information

Association Deposit YN: No
Membership Fee Required YN: No
Tax Annual Amount: 5586.06
Tax Year: 2021
Tax Legal Description: SOUTHERLY HILL NLY 55.02 FT OF LTS 56 TO 59 INC

Status Change Information

Major Change Timestamp: 2022-11-01T18:41:29Z
Major Change Type: Status Change
Price Change Timestamp: 2022-09-11T22:26:36Z
Status Change Date: 2022-11-01
Under Contract Date: 2022-09-26
Close Date: 2022-10-31
Close Price: 352000
Buyer Financing: VA

More Information

Short Sale Details

Short Sale Addendum: No

Main Level Rooms

Main Level Bathrooms: Yes
Main Level Bedrooms: 2

Storm Protection

Panel Shutters: Complete

Buyer Details

Intended Use: Primary Residence

Concessions

Seller Concessions: Yes
Seller Concessions Amount: 13250

Contributions

Buyer Contributions: No

Room Types

Kitchen Level: Main
Living Room Level: Main
Master Bedroom Level: Main
Kitchen: Yes
Laundry: Yes
Living Room: Yes
Master Bedroom: Yes

Price Calculations

Current Price To SqFt: 523.8
Original List Price To Close Price: 1.04

Originating Details

Originating System Key: 20220627152510385635000000
Originating System ID: M00000170

Office/Member Information

DXORIGMLSID: RML

Amenities

Sidewalks: Yes

Dining Area

Dining/Living Room: Yes

Electric

220 Volts: Yes
Three Phase: Yes

Flooring

Laminate: Yes

Parking Features

On Street: Yes
Attached Carport: Yes

Property Condition

Resale: Yes

Fencing

Fenced: Yes

Other Structures

Shed(s): Yes

Possession

Close Of Escrow: Yes
Negotiable: Yes

Sewer

Public Sewer: Yes

Special Information

Sold As-Is: Yes

Utilities

Sewer Available: Yes
Water Available: Yes

Heating

Central: Yes
Electric: Yes
Solar: Yes

Sprinkler Description

Auto Sprinkler: Yes

Water Access

None: Yes

Appliances

Dryer: Yes
Electric Range: Yes
Microwave: Yes
Refrigerator: Yes
Washer: Yes

Construction Materials

Aluminum Siding: Yes
Block: Yes

Green Energy Generation

Solar: Yes

Interior Features

Bedroom Layout - Stacked: Yes
Storage: Yes

Laundry Features

Inside: Yes
Outside: Yes

Listing Terms

Cash: Yes
Conventional: Yes
FHA: Yes

Lot Features

Fruit Tree(s): Yes
Room for Pool: Yes

Roof

Composition: Yes
Shingle: Yes

Water Source

Public: Yes

Cooling

Central Air: Yes
Electric: Yes

Showing Requirements

Combination Lock Box: Yes
Schedule Online: Yes

Master Bedroom/Bath

None: Yes

Pets Allowed YN

Yes: Yes

Pets Allowed

No Restrictions: Yes

Restrictions

No Restrictions: Yes

Storm Protection Details

Storm Shutters: Yes

Tax Information

City/County: Yes
No Homestead: Yes

Outdoor Living Spaces

Patio: Yes
Porch: Yes

Patio Details

Patio - Open: Yes

Porch Details

Porch - Open: Yes

Contingencies

Financing: Yes

Concessions Detail

Closing Costs: Yes
Other: Yes

Acreage Description

Less Than 1/4 Acre Lot: Yes

Room Information

Room Name	Length	Width	Level
Living Room	16.00	12.00	Main
Kitchen	10.00	8.00	Main
Master Bedroom	12.00	10.00	Main
Laundry

Listing Office: KW Reserve Palm Beach

Last Updated: May - 30 - 2026

This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. Copyright 2026 Beaches Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.

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5314 Lake Avenue, West Palm Beach, FL 33405 (MLS# R10814271)