Triplex with Updated Duplex and 2021
For Sale
Under Contract
$785,000
1675 E Breezy Lane, West Palm Beach, FL 33417
MULTI_FAMILY - West Palm Beach, FL
Property Size3,168 SF
Lot Size0.52 Acres
Price / SF$247.79
Days on Market105
Property Features for 1675 E Breezy Lane
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
RM
Bedrooms
6
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 2, Bedroom 5, Bedroom 6
Window features
Blinds, Storm Window(s)
Patio and Porch features
Deck
Pets allowed
No, Yes
Exterior features
Storage
Subdivision
PLANTATION VILLAGE UNREC ON AM-8
Lot features
Oversized Lot
Elementary school
Wynnebrook
Middle school
Jeaga
High school
Royal Palm Beach
Directions
Take the Florida Turnpike to Okeechobee Blvd and head east, then south onto Breezy Ln. The property will be on the east side of the fork in the road.
Standard status
Active Under Contract
APN
00424326040020010
Size
3,168 SF
Lot size
0.52 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PLANTATION VILLAGE LTS 1 & 2 BLK 2
Tax Annual Amount
9754
Legal Description
PLANTATION VILLAGE LTS 1 & 2 BLK 2
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air, Electric, Ceiling Fan(s)
Water source
Public
Amenities
storage shed
central A/C
Building Details
Year built
1974
Floors in Building
1
Number of units
3
Flooring type
Carpet, Vinyl, Laminate, Tile
Building materials
Concrete Block - With Stucco
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Pavon Realty Group, LLC
(561) 693-3360
Listed By:
Albert Pavon · License #3115993
(561) 644-2201
Added: Apr 24
Changed: Aug 6
Last Checked: Aug 6 at 4:06PM
MLS# B26019722
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This triplex includes three total units: a 2-bedroom, 1-bathroom single-family home plus a duplex containing two 2-bedroom, 1-bathroom units. The duplex has been updated with modern kitchens and bathrooms, impact windows, and low-maintenance tile and laminate flooring. The single-family home features tile and carpet flooring, hurricane shutters, and a 2021 roof. All three units have central A/C. The property sits on a 0.52-acre lot and is built with concrete block with stucco construction. Two separate septic systems provide service for the property, and there is a storage shed at the rear.
Tenants are currently on month-to-month leases. The home deck and other exterior features include storage, and the property uses a shingle roof with central electric cooling and cable available. It was built in 1974.
Zoned RM, the layout supports an income-producing residential rental setup with flexibility for an owner-occupant or investor.
Tenants are currently on month-to-month leases. The home deck and other exterior features include storage, and the property uses a shingle roof with central electric cooling and cable available. It was built in 1974.
Zoned RM, the layout supports an income-producing residential rental setup with flexibility for an owner-occupant or investor.
Key Highlights
- Three total units: single‑family 2/1 plus a duplex with two 2/1 units
- 0.52‑acre lot with concrete block with stucco construction
- Duplex updates include modern kitchens and bathrooms, impact windows, and tile/laminate flooring
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$59,284
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.55%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,185,680
$1.2M
Cap Rate 7%
$846,914
$846.9K
Cap Rate 9%
$658,711
$658.7K
Market Conditions
NOI Build-Up for 3,168 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$89.3K $28.20/SF
− Vacancy
−$4.6K −$1.47/SF
EGI
$84.7K $26.73/SF
− OpEx
−$25.4K −$8.02/SF
NOI
$59.3K $18.71/SF
Area
West Palm Beach, FL
Vacancy
5.20%
Lease Rate
$28.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,185,680
Cap Rate 7%
$846,914
Cap Rate 9%
$658,711
Alternative Uses
Best Use
Multifamily LT 5
$846.9K
$741.1K – $988.1K
NOI $59,284 @ 7.0% cap · market cap 7.55%
Second Best
Apartment 5plus
$787.7K
$689.2K – $919.0K
NOI $55,137 @ 7.0% cap · market cap 7.02%
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $156,176 @ 7.0% cap · market cap 19.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
694
Businesses Nearby
Explore this area
Business Placement
Demographics for 33417, FL
34,153
Population
20,450
Households
1.7
Avg Household Size
48
Median Age
26%
College-Educated
83%
High-School Grad
6.6 sq mi
ZIP Area
5,175
Density / Sq Mi
$50,077
Median Household Income
$35,036
Median Earnings
$1,533
Median Rent
$159,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex zoned RM with three central A/C units and two separate septic systems.
Where is this triplex located?
The property is located at 1675 E Breezy Lane West Palm Beach, FL.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: Three total units: single‑family 2/1 plus a duplex with two 2/1 units; 0.52‑acre lot with concrete block with stucco construction; Duplex updates include modern kitchens and bathrooms, impact windows, and tile/laminate flooring
