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    4017 SW 24Th St West Park, FL 33023

    View on Map
    Sponsored
    For Sale
    $835,000

    Fourplex, Quadruplex - West Park, FL

    Type:Quadruplex
    Property size:
    2,280 SF
    Days on Market:
    36
    Last Refresh:
    Mar 20 at 12:06 am

    Property Features for 4017 SW 24Th St

    General Information

    Property type
    Residential
    Property subtype
    Quadruplex
    Standard status
    Active
    Zoning
    R-1C
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    8
    Bathrooms
    4
    APN
    514219010280
    Parking
    8
    Exterior features
    Fence, Lighting, Other, Shed
    Fencing
    Fenced
    Size
    2,280 SF

    Utilities

    Heating system
    Electric (Heating), Wall Furnace
    Cooling system
    Electric, Multi Units, Wall/Window Unit(s), Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1957
    Flooring type
    Concrete, Laminate, Tile, Vinyl
    Building materials
    Brick, Stucco
    Roof type
    Flat, Other, Shingle, Tile
    Architectural style
    Other
    Additional Structures
    Packing Shed, Shed(s)

    We can help!

    Listing Contact
    Eli Faitelson

    Compass Florida LLC (305) 851-2820

    Listing agent Eli Faitelson (305) 315-2396 License #3312711

    Listing date Feb 12, 2026

    MLS# A11942627 Listing URL

    Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    West Park Income-Producing Fourplex

    This well-maintained fourplex is located in West Park. The property consists of four units, each featuring 2 bedrooms and 1 bathroom, with functional layouts and strong rental demand. The property generates over $7,000 per month in gross rental income when fully occupied. Currently, three units are occupied, with one unit intentionally kept vacant for showings, providing immediate flexibility for a new owner to lease or occupy. The property is suitable for investors seeking stable cash flow with upside potential and those looking to expand their multifamily portfolio in a growing South Florida market. The property offers convenient access to major roadways, shopping, and public transportation, providing consistent rental income and long-term value. The property size is 2,280 square feet. The zoning is R-1C.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    West Park
    County
    Broward
    State
    Florida
    Longitude
    -80.2144
    Latitude
    25.9895

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    FAQs

    What type of property is this?
    Quadplex - Well-maintained fourplex in West Park with income potential.
    Where is this quadplex located?
    The property is located at 4017 SW 24Th St West Park, FL.
    What is the asking price?
    The asking price for this property is $835,000.
    What are key features of this property?
    This property features: - Excellent income-producing fourplex generating $7,000+ per month gross rental income when fully occupied.; - Four 2BED/1BATH units feature functional layouts and strong rental demand.; - One unit is intentionally vacant for showings, providing immediate leasing or occupancy flexibility.
    (305) 733-4899
    Request Owner's contact information
    4017 SW 24Th St West Park, FL 33023
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    West Park, FL 33023
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4017 SW 24Th St West Park, FL 33023
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    We can help!
    Listing Contact
    Eli Faitelson
    Real Estate License ID: 3312711
    (305) 733-4899 (305) 677-5000 (305) 315-2396
    Learn more
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