1 Tropical Drive, Ocean Ridge, FL 33435 (MLS# R11151426)

1 Tropical Drive, Ocean Ridge, FL 33435

$2,795,000

Virtual Tour

https://www.propertypanorama.com/1-Tropical-Drive-Ocean-Ridge-FL-33435--RX-11151426/unbranded

Property Type: Residential Income Square Footage: 4,310 Status: Active

Current Price: $2,795,000 List Date: 1/05/2026 Last Modified: 4/09/2026

Overview

Description

Prime Location: Located one block from the beach in Ocean Ridge, a prestigious and highly desirable area in Florida. 8 units comprised of 3 studios and five 1 bed, 1 bath. All on separate elec. meters. Shared coin laundry. Complete Accordion Shutters. 100% occupied, annual leases. Some rents are below market. Investment Potential: Ideal for investors looking for a stable income property with strong appreciation. Outdoor Space: features patios, swimming pool, barbecue, Etc. Redevelopment Opportunity: Potential for redevelopment into luxury townhomes or condos, given the upscale neighborhood. Community Appeal: Ocean Ridge is known for its community feel, and exclusivity. Close to Downtown Delray beach, shopping, restaurants, and nightlife.

Listing Details MLS# R11151426

General Property Information

Number Of Units Total: 8
Property Sub Type: Triplex
Building Area Main: 4310
Building Area Source: Public Records
Living Area Main: 3397
Year Built: 1956
Gated Community YN: No
Lot Size Area: 13051
Lot Size Acres: 0.3
Senior Community YN: No
Outdoor Living Spaces YN: Yes
Stories: Yes
Pool Private YN: Yes

Property Features

Association Amenities: Pool Documents Available: Investment Analysis Electric: Three Phase Flooring: Terrazzo; Tile Property Condition: Resale Structure Type: Triplex Tenant Pays: Cable TV; Electricity Source Of Expenses: Owner Provided Construction Materials: CBS Cooling: Ceiling Fan(s); Wall/Window Unit(s) Heating: Window/Wall Listing Terms: Cash Pool Features: In Ground Possession: Close Of Escrow; Negotiable Restrictions: No Restrictions Road Frontage Type: East of US-1 Roof: Concrete Sewer: Public Sewer Special Information: Sold As-Is Tax Information: City/County Utilities: Cable Available; Sewer Available; Water Available Water Access: None Water Source: Public Showing Requirements: Call Listing Agent; Occupied; Text Listing Agent Occupant Details: Tenant Occupied Outdoor Living Spaces: Patio Patio Details: Patio - Open Unit 1 Appliances: Range; Refrigerator Unit 1 Other Equipment: Air Conditioning Unit Unit 1 Parking Features: Open Parking; Parking Space Unit 1 Rooms: Kitchen Unit 2 Appliances: Range; Refrigerator Unit 2 Other Equipment: Air Conditioning Unit Unit 2 Parking Features: Open Parking; Parking Space Unit 2 Rooms: Kitchen Unit 3 Appliances: Range; Refrigerator Unit 3 Other Equipment: Air Conditioning Unit Unit 3 Parking Features: Open Parking; Parking Space Unit 3 Rooms: Kitchen Acreage Description: 1/4 To Less Than 1/2 Acre Lot

Contract Information

Comp Sale YN: No
Original List Price: 2795000
Negotiable Seller Concessions YN: Yes

Location and Legal

Country: United States
County Or Parish: Palm Beach
County Parish Name: Palm Beach
Street Number: Yes
Street Name: Tropical
Street Suffix: Drive
City Name: Ocean Ridge
State Or Province: FL
Postal Code: 33435
Postal Zip: 33435
Subdivision Name: PALM BEACH SHORE ACRES
Area: 4120
Geographic Area: PB11
Parcel Number: 46434534050010190
Zoning: RMM(ci

Financial Information

Tax Annual Amount: 21714
Tax Year: 2025
Tax Legal Description: PALM BEACH SHORE ACRES BLKS A~ B & Z E 126.05 FT OF W 144.05 FT OF LT 16 BLK A

Status Change Information

Major Change Timestamp: 2026-01-05T15:40:08Z
Major Change Type: New Listing
Status Change Date: 2026-01-05

More Information

Meter Information

Separate Electric Meters YN: Yes
Separate Water Meters YN: No

Short Sale Details

Short Sale Addendum: No

Income and Expenses

Annual Total Expense: 59469
Gross Income: 184200
Net Operating Income: 58443

Storm Protection

Accordian Shutters: Complete

Showing Details

Pet(s) on Premises: No

Unit 1 Details

Actual Rent: 2200
Baths Full: Yes
Furnished: Unfurnished
Hotel Room YN: Yes
SqFt: 400

Unit 2 Details

Actual Rent: 2200
Baths Full: Yes
Furnished: Unfurnished
Hotel Room YN: Yes
SqFt: 400

Unit 3 Details

Actual Rent: 2200
Hotel Room YN: Yes
SqFt: 400

Price Calculations

Current Price To SqFt: 822.78

Originating Details

Originating System Key: 20260105152001514972000000
Originating System ID: M00000170

Office/Member Information

DXORIGMLSID: RML

Association Amenities

Pool: Yes

Electric

Three Phase: Yes

Flooring

Terrazzo: Yes
Tile: Yes

Property Condition

Resale: Yes

Special Information

Sold As-Is: Yes

Documents Available

Investment Analysis: Yes

Structure Type

Triplex: Yes

Tenant Pays

Cable TV: Yes
Electricity: Yes

Possession

Close Of Escrow: Yes
Negotiable: Yes

Sewer

Public Sewer: Yes

Utilities

Cable Available: Yes
Sewer Available: Yes
Water Available: Yes

Heating

Window/Wall: Yes

Water Access

None: Yes

Construction Materials

CBS: Yes

Listing Terms

Cash: Yes

Pool Features

In Ground: Yes

Road Frontage Type

East of US-1: Yes

Roof

Concrete: Yes

Water Source

Public: Yes

Source Of Expenses

Owner Provided: Yes

Cooling

Ceiling Fan(s): Yes
Wall/Window Unit(s): Yes

Showing Requirements

Call Listing Agent: Yes
Occupied: Yes
Text Listing Agent: Yes

Restrictions

No Restrictions: Yes

Tax Information

City/County: Yes

Occupant Details

Tenant Occupied: Yes

Outdoor Living Spaces

Patio: Yes

Patio Details

Patio - Open: Yes

Unit 1 Appliances

Range: Yes
Refrigerator: Yes

Unit 1 Other Equipment

Air Conditioning Unit: Yes

Unit 1 Parking Features

Open Parking: Yes
Parking Space: Yes

Unit 1 Patio/Porch

Patio/Porch: Yes

Unit 1 Rooms

Kitchen: Yes

Unit 2 Appliances

Range: Yes
Refrigerator: Yes

Unit 2 Other Equipment

Air Conditioning Unit: Yes

Unit 2 Parking Features

Open Parking: Yes
Parking Space: Yes

Unit 2 Patio/Porch

Patio/Porch: Yes

Unit 2 Rooms

Kitchen: Yes

Unit 3 Appliances

Range: Yes
Refrigerator: Yes

Unit 3 Other Equipment

Air Conditioning Unit: Yes

Unit 3 Parking Features

Open Parking: Yes
Parking Space: Yes

Unit 3 Patio/Porch

Patio/Porch: Yes

Unit 3 Rooms

Kitchen: Yes

Acreage Description

1/4 To Less Than 1/2 Acre Lot: Yes

Listing Office: Compass Florida LLC

Last Updated: April - 09 - 2026

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