Riviera Beach, FL Townhouse

This attractive townhouse in the Thousands Oaks condo-minium complex in Riviera Beach is only four years old and is listed for $113,900. The unlucky foreclosee paid $305,000 for this condo at the peak of the bubble (5/31/2006). Zillow.com estimates that this condo is now worth $209,000… almost twice the current listing price. The complex has great amenities and is convenient to I-95, the major east coast highway.


For a first-time buyer, this REO presents an amazing opportunity to become a homeowner with a payment at or below the cost of renting. For an investor, this townhouse could be rented for about $1,200 to $1,300 per month, easily covering the monthly mortgage and other expenses. This REO needs minimal work to be ready for its next occupant -- basic paint and finish work for a few thousand dollars will have this condo looking good as new. Riviera Beach, less than an hour drive north of Fort Lauderdale, is a hot destination for snow birds and retirees alike, and will likely prove to be a good choice for long-term real estate investment.



The basics...
Address: 2045 Oakhurst Way, Riviera Beach, FL 33404
Current Listing Price: $113,900
PREVIOUS Sale Price: $305,000 (5/31/2006)
Size: 3 Bedrooms, 2 Bathrooms; 2,203 square feet

http://www.realtor.com/realestate/riviera+beach-fl-33404-1100304278/