Duplex with Rear
For Sale
$595,000
301 S L Street, Lake Worth, FL 33460
MULTI_FAMILY - Lake Worth Beach, FL
Property Size2,146 SF
Lot Size0.16 Acres
Price / SF$277.26
Days on Market98
Property Features for 301 S L Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
SF-R (city)
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 4, Bedroom 3, Bathroom 2
Window features
Shutters
Pets allowed
No, Yes
Exterior features
Awning(s), Barbecue
Subdivision
LAKE WORTH TOWN OF
Lot features
Corner Lot, Fruit Tree(s)
Elementary school
South Grade
Middle school
Lake Worth
High school
Lake Worth
Standard status
Active
APN
38434421151130170
Size
2,146 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
TOWN OF LAKE WORTH LTS 17 & 18 BLK 113
Tax Annual Amount
9633
Legal Description
TOWN OF LAKE WORTH LTS 17 & 18 BLK 113
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Ceiling Fan(s), Wall/Window Unit(s), Central Air, Window Unit(s)
Water source
Public
Amenities
laundry room
impact-rated shutters
Building Details
Year built
1956
Floors in Building
1
Number of units
2
Flooring type
Tile, Tile - Ceramic, Terrazzo
Building materials
Block, CBS, Stucco
Roof type
Concrete, Flat, Tile
Listing Agency:
49 Units, LLC
(561) 600-5350
Listed By:
Jesse J Bailey · License #3227469
(561) 318-3337
Added: May 9
Changed: Aug 12
Last Checked: Aug 14 at 10:06PM
MLS# B26026573
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 2146-square-foot duplex contains two 2BR/1BA units, each with a laundry room equipped with a washer and dryer. The interiors include terrazzo flooring, while the building features CBS block construction, stucco, impact-rated shutters, and a concrete tile main roof. Central heating and cooling are supported by additional window and wall units. Both residences are leased month-to-month, and the property is positioned for light cosmetic updating. Electric and water are separately metered. Rear parking accommodates at least 4 vehicles, and the property includes public water and public sewer service.
Located at 301 S L Street in Lake Worth Beach, the property sits on a 0.16-acre lot and carries SF-R (city) zoning. The building was constructed in 1956 and is near Lake/Lucerne main street.
Located at 301 S L Street in Lake Worth Beach, the property sits on a 0.16-acre lot and carries SF-R (city) zoning. The building was constructed in 1956 and is near Lake/Lucerne main street.
Key Highlights
- Two‑unit duplex totaling 2146 square feet on a 0.16‑acre lot
- Each unit offers a 2BR/1BA layout with washer and dryer
- CBS block construction with impact‑rated shutters and concrete tile roof
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
$35,773
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
6.01%
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%
$715,460
$715.5K
Cap Rate 7%
$511,043
$511.0K
Cap Rate 9%
$397,478
$397.5K
Market Conditions
NOI Build-Up for 2,146 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
$54.1K $25.20/SF
− Vacancy
−$3.0K −$1.39/SF
EGI
$51.1K $23.81/SF
− OpEx
−$15.3K −$7.14/SF
NOI
$35.8K $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%
$715,460
Cap Rate 7%
$511,043
Cap Rate 9%
$397,478
Alternative Uses
Best Use
Multifamily LT 5
$511.0K
$447.2K – $596.2K
NOI $35,773 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$471.5K
$412.6K – $550.1K
NOI $33,004 @ 7.0% cap · market cap 5.55%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,793 @ 7.0% cap · market cap 17.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,704
Businesses Nearby
Explore this area
Business Placement
Demographics for 33460, FL
36,409
Population
14,769
Households
2.5
Avg Household Size
36
Median Age
24%
College-Educated
72%
High-School Grad
4.7 sq mi
ZIP Area
7,747
Density / Sq Mi
$61,702
Median Household Income
$32,388
Median Earnings
$1,411
Median Rent
$333,200
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?
Duplex - Two leased residential units feature private laundry rooms, separate utility metering, and flexible month-to-month occupancy.
Where is this duplex located?
The property is located at 301 S L Street Lake Worth, FL.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2146 square feet on a 0.16‑acre lot; Each unit offers a 2BR/1BA layout with washer and dryer; CBS block construction with impact‑rated shutters and concrete tile roof
