$400,000
Situated on a 0.41-acre canal-front parcel in Lake Worth, this opportunity offers a compelling value-add and redevelopment opportunity. The 3BR/2BA home features vaulted ceilings, exposed beams, and an open layout with two bedrooms on the main level and a lofted primary suite above. Expansive windows and French doors lead to a large deck overlooking the canal. Property includes two HVAC systems, laundry, utility space, driveway, and carport. Zoned to allow subdivision into two or three single-family lots, offering multiple strategies: renovate, redevelop, or hold as a covered land play. Ideal for investors, builders, or end-users seeking a waterfront opportunity with upside. The seller is working on providing marketable tile as the property has a lien. Positioned on an oversized 0.41-acre parcel along a tranquil canal in Lake Worth, this architecturally distinctive residence presents a compelling value-add and redevelopment opportunity in a supply-constrained submarket. The existing improvements feature a 3-bedroom, 2-bath wood-frame home with a highly desirable open floor plan anchored by soaring vaulted ceilings, exposed timber trusses, and tongue-and-groove wood decking, delivering volume and character rarely found at this price point. The layout includes two bedrooms on the main level and a second-floor loft and primary suite, creating functional separation and flexible living configurations. Natural light pours into the main living area through expansive glazing, seamlessly connecting the interior to a large wood deck overlooking the canal, accessed via French doors—an ideal canvas for repositioning into a lifestyle-driven product. Operationally, the property is supported by two HVAC systems, a dedicated laundry room, utility space, concrete driveway, and carport. From an investment perspective, the true upside lies in the land. The 0.41-acre site offers sufficient density, per zoning, to subdivide into two single-family parcels, providing multiple exit strategies: Renovate and capitalize on the existing structure. Redevelop into two possibly three new construction homes. Hold as a covered land play with future appreciation The property is in fair condition and primed for renovation, making it well-suited for fix-and-flip investors, builders, or end-users seeking to create a custom waterfront residence. This is a rare opportunity to control a large, subdividable homesite with architectural character and waterfront exposure—a combination that continues to outperform in today's market.
3
Beds
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2
Baths
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B26021953
MLS
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Hypoluxo Village BLDG.
6640 Riggers Road, Lake Worth
