Property Detail
Location Address : 1118 N LAKE WAY
Municipality : PALM BEACH
Parcel Control Number : 50-43-43-03-11-000-0381
Subdivision : EL ENCANTO PL 2
Official Records Book/Page : 31432 / 1128
Sale Date : 05/08/2020
Legal Description : EL ENCANTO PL 2 LT 38 (LESS S 7 FT), 6 FT STRIP LYG N & ADJ TO LT 38 & 20 FT ABNDED RD LYG E & ADJ THERETO
Owner Information
Owner(s) Mailing Address
SCHAEFFER EDITH F TRUST &
SCHAEFFER EDITH F TR
 3150 SOUTH ST NW APT PH2C
WASHINGTON DC 20007 4455
Sales Information
Sales Date Price OR Book/Page Sale Type Owner
05/08/2020 $12,697,175 31432 / 01128 WARRANTY DEED SCHAEFFER EDITH F TRUST &
02/13/2015 $12,730,000 27341 / 00491 WARRANTY DEED 1120 NORTH LAKE WAY LLC
10/02/2014 $10 27138 / 00535 WARRANTY DEED SUNSHINE PROPERTIES PALM BEACH LLC
04/18/2013 $7,800,000 25998 / 00217 WARRANTY DEED APPLE STEVEN L
09/01/1985 $1,900,000 04648 / 00251 LIFE ESTATE
11/01/1984 $24,300 04387 / 01361 WARRANTY DEED
04/01/1982 $1,450,000 03716 / 01822 WARRANTY DEED WAFFENSCHMIDT FRIEDRICH &
01/01/1975 $125,000 02475 / 00865
Exemption Information
No Exemption Information Available.
Property Information
Total Number of Units Per Parcel : 1
*Total Square Feet : 9278
Acres : .53
Property Use Code : 0100—SINGLE FAMILY
Zoning : R-B—LOW DENSITY RESIDENTIAL (50-PALM BEACH)
Building Details

Structural Details

Structural Element for Building 1
Bldg Type EXC-LUX.RES
Exterior Wall 1 MSY: CB STUCCO
Year Built 2024
Air Condition Desc. HTG & AC
Heat Type FORCED AIR DUCT
Heat Fuel ELECTRIC
Bed Rooms 6
Full Baths 4
Half Baths 1
Exterior Wall 2 NONE
Roof Structure WOOD TRUSS
Roof Cover CONCRETE TILE
Interior Wall 1 DRYWALL
Interior Wall 2 N/A
Floor Type 1 HARDWOOD
Floor Type 2 MARBLE
Stories 2
Subarea and Square Footage for Building 1
Code Description square Footage
BLC Balcony 30
BLC Balcony 96
FGR Finished Garage 473
FOP Finished Open Porch 566
BLC Balcony 566
BLC Balcony 30
BAS Base Area 3799
FUS Finished Upper Story 3622
FOP Finished Open Porch 96
Total Square Footage 9278
Area Under Air 7421
Sketch for Building 1
Building 1 Layout

Property Extra Feature

Description Year Built Units
Boat Dock 2017 900
Wall 1976 1310
Elevator 2024 1
Pool - In-Ground 2024 1

Property Land Details

Land Line # Description Zoning Acres
1 INTRACOASTAL R-B 0.4757
2 INTRACOASTAL WATERWAY STRIP R-B 0.0554
Appraisals
Tax Year 2026 2025 2024 2023 2022
Improvement Value $6,043,973 $4,285,692 $30,207 $31,369 $32,918
Land Value $25,904,050 $24,867,900 $22,795,600 $19,005,385 $16,625,650
Total Market Value $31,948,023 $29,153,592 $22,825,807 $19,036,754 $16,658,568
Assessed and Taxable Values
Tax Year 2026 2025 2024 2023 2022
Assessed Value $19,877,576 $18,070,524 $12,559,553 $11,417,775 $10,379,795
Exemption Amount $0 $0 $0 $0 $0
Taxable Value $19,877,576 $18,070,524 $12,559,553 $11,417,775 $10,379,795
Taxes
Tax Year 2026 2025 2024 2023 2022
AD VALOREM $370,532 $338,747 $251,587 $220,606 $201,767
NON AD VALOREM $217 $205 $0 $0 $0
TOTAL TAX $370,749 $338,952 $251,587 $220,606 $201,767
Dorothy Jacks, CFA, AAS  PALM BEACH COUNTY PROPERTY APPRAISER   www.pbcpao.gov