Quadplex with Separate Utility
For Sale
$676,000
2721 Avenue S, Riviera Beach, FL 33404
Residential Income, Riviera Beach, FL
Property Size3,099 SF
Lot Size0.16 Acres
Price / SF$218.13
Days on Market370
Property Features for 2721 Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
RM-15(
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 1, Bathroom 2
Subdivision
ACREHOME PARK
Standard status
Active
APN
56434229011060010
Size
3,099 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
ACREHOME PARK TH PT OF LT 106 K/A UNIT A
Tax Annual Amount
2185
Legal Description
ACREHOME PARK TH PT OF LT 106 K/A UNIT A
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1967
Floors in Building
1
Number of units
4
Flooring type
Tile
Building materials
CBS, Concrete
Roof type
Composition
Listing Agency:
Highlight Realty Corp/LW
(561) 641-6787
Listed By:
Eran Margalit · License #3349130
(310) 927-9202
Added: Aug 30, 2025
Changed: Sep 2
Last Checked: Sep 3 at 7:06AM
MLS# R11119901
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 legal fourplex contains 3,099 square feet within a 0.16-acre parcel. Separate water and power meters serve the units, supporting distinct utility accounting. The building dates to 1967 and uses CBS and concrete construction, tile flooring, central heating, and central air conditioning. The interior includes three bathrooms, while the property is served by a septic tank and has cable availability.
Located at 2721 Avenue S in Riviera Beach, Florida, the property is in Palm Beach County and carries an RM-15 designation in the provided information. The asset is offered for sale as a residential income property.
Located at 2721 Avenue S in Riviera Beach, Florida, the property is in Palm Beach County and carries an RM-15 designation in the provided information. The asset is offered for sale as a residential income property.
Key Highlights
- Legal fourplex with separate water and power meters
- 3,099‑square‑foot building on a 0.16‑acre parcel
- Built in 1967 with CBS and concrete construction
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
$51,660
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
7.64%
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%
$1,033,200
$1.0M
Cap Rate 7%
$738,000
$738.0K
Cap Rate 9%
$574,000
$574.0K
Market Conditions
NOI Build-Up for 3,099 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
$78.1K $25.20/SF
− Vacancy
−$4.3K −$1.39/SF
EGI
$73.8K $23.81/SF
− OpEx
−$22.1K −$7.14/SF
NOI
$51.7K $16.67/SF
Area
Palm Beach County, FL
Vacancy
5.50%
Lease Rate
$25.20 /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%
$1,033,200
Cap Rate 7%
$738,000
Cap Rate 9%
$574,000
Alternative Uses
Best Use
Multifamily LT 5
$738.0K
$645.8K – $861.0K
NOI $51,660 @ 7.0% cap · market cap 7.64%
Second Best
Apartment 5plus
$680.9K
$595.8K – $794.4K
NOI $47,661 @ 7.0% cap · market cap 7.05%
Theoretical Best
Office A
$2.18M
$1.91M – $2.55M
NOI $152,774 @ 7.0% cap · market cap 22.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
603
Businesses Nearby
Explore this area
Business Placement
Demographics for 33404, FL
31,869
Population
15,990
Households
2
Avg Household Size
42
Median Age
27%
College-Educated
87%
High-School Grad
7.3 sq mi
ZIP Area
4,366
Density / Sq Mi
$60,225
Median Household Income
$35,521
Median Earnings
$1,507
Median Rent
$305,600
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?
Quadplex - Legal four-unit property with individually metered water and power.
Where is this quadplex located?
The property is located at 2721 Avenue S Riviera Beach, FL.
What is the asking price?
The asking price for this property is $676,000.
What are key features of this property?
This property features: Legal fourplex with separate water and power meters; 3,099‑square‑foot building on a 0.16‑acre parcel; Built in 1967 with CBS and concrete construction
