502 SE 3rd Avenue, Delray Beach, FL 33483

About This Home

Lot play, not a house sale. Corner lot, 6,510 SF, R-1-A, no HOA, two to three blocks south of Atlantic, walk or bike to the beach. FEMA Zone X. City and CRA street, alley, sidewalk, lighting, and utility work is done. New homes on the block are trading around $2.3M-$3.7M. The 1986 ranch, 1,458 SF, is the teardown, which is why the house price per foot is not the underwriting. Reduced to $980,000, about $151 a land foot. Cover and tour images of a new house are renderings for vision only, not the existing improvement and not an approved plan. Buyer to verify setbacks, coverage, and height with the City of Delray Beach. Cash or conventional. Build in one of East Delray's last downtown-adjacent grids where demand still outpaces available dirt. Osceola Park is the SOFA grid, south of Atlantic. The City and the CRA rebuilt the streets starting in 2020: paved roads and alleys, sidewalks, LED lighting, traffic calming, and new water and sewer, including this quadrant between Southeast 2nd and Southeast 5th Avenues. Builders followed. Modern 3,200-4,000 square foot homes are rising on the same blocks, with finished product offered from about $2.3 million to $3.2 million. From this corner, Atlantic is two to three blocks north and the ocean is a short walk or bike ride east. The opening is a corner lot that has not been rebuilt yet, on a grid where the city work is done and the new houses are already selling. Buyer to verify setbacks, coverage, and height with the City of Delray Beach.Private appointments only. No drop-ins. Investment highlights Lot play, not a house sale. Price the land. 6,510 SF corner, 0.15 acres, R-1-A, no HOA, no association rental restriction Two to three blocks south of Atlantic. Walk or bike to the beach Public infrastructure already spent: CRA / City streets, alleys, sidewalks, lighting, water and sewer Builder proof on the block. New homes trading and shells going up around $2.3M-$3.2M One of the last downtown-adjacent quadrants not fully rebuilt. Northeast Atlantic and the marina are largely done Existing ranch is a teardown canvas Cash or conventional. Showings by appointment

Property Details

Bathrooms Full

2

Bathrooms Half

0

Interior Features

Split Bedroom

Appliances

Refrigerator, Self Cleaning Oven, Wall Oven

Flooring

Ceramic Floor

Heating

Central

Cooling

Central Air

Architectural Style

Ranch, One Story

Building & Association

Stories

1

Stories Total

1

Association

No

Pets Allowed

Yes

Lot & Construction

Lot Features

Less Than 1/4 Acre Lot, Corner Lot, Less Than 1 Acre

Lot Size Square Feet

6,510

Waterfront

No

View

No

Roof

Comp Shingle Roof, Shingle

New Construction

No

Public Records

Parcel Number

12434621010060100

Tax Annual Amount

$2,194

Tax Year

2,025

Zoning

R-1-A (city)

County Or Parish

Palm Beach County

Location