550 Okeechobee Boulevard Uph-04, West Palm Beach, FL 33401 — MLS photo

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550 Okeechobee Boulevard Uph-04, West Palm Beach, FL 33401

Active · Condominium

$1,000,000

550 Okeechobee Boulevard Uph-04, West Palm Beach, FL 33401

Beds
2
Baths
2
Living area
1,120 sq ft
$ / sq ft
$893/sq ft
Year built
2008
Lot size
—
HOA fee
$1,280 Monthly
Annual tax
$12,207

About this property

***Call to discuss a Seller-paid interest rate buydown available with a qualified offer.*** Perched atop the epicenter of downtown West Palm Beach, across the street from Rosemary Square, this upper penthouse 2/2 at CityPlace South Tower offers modern metropolitan luxury lifestyle. Spectacular cityscape & ocean views draw your attention upon entrance, magnified by 10-foot, floor-to-ceiling impact sliders in the living room & primary bedroom & a floor-to-ceiling impact window in the 2nd bedroom. Recent updates include a completely remodeled kitchen with designer cabinetry, a wine refrigerator, brilliant quartz countertops illuminated by track lighting & a 2024 Bosch HVAC system. Brand-new custom solar shades conveniently & dramatically unveil the striking views. This is a truly split floor plan. Each bedroom has a walk-in closet with built-ins. Freshly painted, featuring new Ferguson fixtures, this unit is turnkey. Exclusive to the penthouse levels are the extra-high ceilings, the private lounges by the elevator & the security fob needed for elevator access to the top floor. This unit comes with 1 assigned parking spot (additional available) & a large 8'0" x 4'4" storage locker. CityPlace South Tower features a resort-style infinity pool on the 9th floor Upper Pool Deck, which has been recently refreshed with fresh greenery, night lighting, a newly stained pergola & a new heater for the huge hot tub. The Summer Kitchen also has grills available for resident use. The Lobby has been refreshed with new furniture, plant life & modern style. The Club Room is a versatile space displaying new countertops & lighting fixtures, a new media area, a new reading nook (ask about the Book Club) & comfortable furniture. There is a fully equipped fitness center with a massage room & the bathrooms each have large saunas & steam rooms. The building offers 24-hour security & front desk attendant & on-site management. Pull up to the porte-cochere & valet park your car or securely enter the gated garage & self-park. The location is extraordinary. The intersection of OKEECHOBEE BLVD & ROSEMARY AVE sees bustling foot traffic for residents walking to & from CityPlace. Among the locales with great proximity are the Kravis Center for Performing Arts, the Palm Beach Convention Center, Ruth's Chris Steakhouse, The Cheesecake Factory, Restoration Hardware (with rooftop restaurant), Pura Vida & Sloan's Ice Cream. Enjoy live music & yoga classes every weekend on the Lawn at CityPlace. Check out the GreenMarket on Saturday mornings. Also nearby is all of the action on CLEMATIS ST & at Grandview Public Market. Notable annual events include SunFest & the Palm Beach International Boat Show. Hop over the bridge to Palm Beach Island & enjoy the ocean beaches. Residents receive discounted rates at both Canopy & the Hilton, which also regularly hosts yoga classes & other events. Ride the Brightline south to Miami or north to Orlando. Enjoy the convenience of the Tri-Rail as well. Palm Beach International Airport is also very close. Calling this residence home is like being issued the key to downtown West Palm Beach.

Property location

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550 Okeechobee Boulevard Uph-04, West Palm Beach, FL 33401

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Facts & features

Interior

Bedrooms
2
Bathrooms
2
Living area
1,120 sq ft
Flooring
Ceramic Tile, Tile
Appliances
Built In Oven, Dryer, Dishwasher, Electric Range, Disposal, Ice Maker, Microwave, Refrigerator, Self Cleaning Oven, Washer
Cooling
Central Air
Heating
Central
Interior features
Built In Features, Bedroom On Main Level, Closet Cabinetry, High Ceilings, Kitchen Island, Living Dining Room, Main Level Primary, Main Living Area Entry Level, Split Bedrooms, Walk In Closets, Entrance Foyer, Pantry, Bar
Furnished
Negotiable

Exterior & Structure

Property type
Condominium
Year built
2008
Stories
21
Lot size
0 sq ft
Architectural style
Penthouse, One Story
Roof
Concrete, Tile
Construction
CBSConcrete Block Structure, Block
Exterior features
Balcony
Pool
None, Association, Community, Heated
Spa
Community
Waterfront
Intracoastal Access
View
Intercoastal, Ocean, Water

Parking

Garage spaces
1
Covered spaces
1
Parking features
Assigned, Detached, Underground, Garage, Guest, One Space, Valet

HOA, Community & Financials

Association fee
$1,280 Monthly
Fee inclusions
Association Management, Common Area Maintenance, Cable Tv, Hot Water, Internet, Parking, Pools, Recreation Facilities, Reserve Fund, Roof, Sewer, Security, Trash, Water
Association
FS Residential
Association contact
561.623.8100
Amenities
Billiard Room, Bike Storage, Cabana, Clubhouse, Community Kitchen, Controlled Access, Fitness Center, Management, Maintenance, Pool, Sauna, Spa Hot Tub, Security, Storage, Trash, Elevators
Security
Building Security, Closed Circuit Cameras, Complex Fenced, Door Man, Elevator Secured, Fire Alarm, Secured Garage Parking, Key Card Entry, Lobby Secured, Fire Sprinkler System, Security Gate, Smoke Detectors, Security Guard
Pets allowed
No
Annual tax
$12,207
Subdivision
CITYPLACE SOUTH TOWER COND
County
Palm Beach
Days on market
61
MLS listing ID
B26029555
Listing status
Active

Investment intelligence

Yield & ROI calculator

Pre-filled from this listing's price, HOA and tax record. Adjust anything to see returns update instantly.

Estimated monthly cash flow

-$3,332

Cap rate
1.7%
Net yield
1.7%
Cash-on-cash return
-14.3%
Gross yield
5.7%
Mortgage payment
$4,741/mo
Down payment
$250,000
Loan amount
$750,000
Annual NOI
$16,906

Estimates only — includes 5% maintenance reserve and ~3% closing costs in cash invested. Verify taxes, HOA and insurance before making an offer.