Palm Lake #1 Condo is a 142-unit, 4-story condominium built in 1973 at 1502 South Lakeside Drive in Lake Worth's South Palm Park neighborhood, a 55-plus community along the Intracoastal Waterway with a boat ramp and community beach access. Amenities include a heated pool, fitness center, and clubhouse. HOA dues run about $500 to $900 per month, and recent resales have ranged from about $150,000 to $285,000. The community is pet-friendly and rentable with a 6-month minimum lease.
This building is in our statewide file. When you order, we run a fresh scan across 14 risk categories — inspections, assessments, structural condition, litigation, insurance and more. Your report shows what public records revealed, and just as important, what they couldn't — so you know exactly what to verify before you make an offer. Delivered within 24 hours.
Get the full Intelligence Report — $9.99Publicly reported association fees at Palm Lake #1 Condo are approximately $500-$900/mo, covering management, common areas, cable TV, insurance, ground maintenance, pool maintenance, roof, sewer, water. Buyers should verify the current fee schedule for the specific unit with the association.
Recent listings at Palm Lake #1 Condo range around $150,000-$285,000, with about 4 units actively for sale as of the last research date.
Publicly reported pet policy: Allowed. Confirm current rules with the association before purchasing.
Palm Lake #1 Condo was built in approximately 1973 and rises 4 floors with 142 units.
Florida condominiums of this age are subject to milestone inspection and structural reserve requirements. Our Intelligence Report covers what official city and county records show for this building, and what remains for a buyer to verify with the association.
When you buy into a condo building that's 15 or more years old — anywhere in the US — you should expect by default that an assessment, or several, is in effect or on the way: roof repairs, elevator replacement, repaving, facade work. Buildings age on a schedule, and the bill lands on the owners: often hundreds of dollars a month on top of your mortgage, HOA fee, taxes, and insurance. The unit listing rarely mentions any of it.
In Florida, the stakes for older buildings are higher still. Since the 2021 Surfside tragedy, state law requires milestone structural inspections at 30 years (25 in some coastal areas), Structural Integrity Reserve Studies, and — critically — bars associations from waiving reserve funding for structural components, ending decades of artificially low fees. Add the state's insurance surge, and many older buildings carry obligations that never appear in a listing. None of this makes an older building a bad purchase — but the difference between a well-run 1970s tower and a struggling one can be tens of thousands of dollars per unit. That's the question our building intelligence answers.
Nearby in Lake Worth: Lake Clarke Gardens · Covered Bridge · Covered Bridge #19 · Esedra Court (Fountains of Palm Beach, Condo 4) · The Fountains of Palm Beach No. 5 (D'Este Court) · All Lake Worth condos