Historic Multifamily Property with Six
415 31st Street West Palm Beach, FL
For Sale
$1,800,000
MULTI_FAMILY - West Palm Beach, FL
Property Size3,905 SF
Lot Size0.14 Acres
Price / SF$460.95
Days on Market74
Property Features for 415 31st Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- SF14(c
- Parking features
- On Street
- Security features
- Security Lighting
- Standard status
- Active
- APN
- 74434309050090220
- Size
- 3,905 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- NORTHWOOD ADD LT 22 BLK 9
- Tax Annual Amount
- 15252
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating)
- Cooling system
- Window Unit(s), Electric, Central Air, Attic Fan, Wall/Window Unit(s), Ceiling Fan(s)
- Water source
- Public
Building Details
- Year built
- 1926
- Floors in Building
- 2
- Number of units
- 6
- Flooring type
- Tile, Wood
- Building materials
- Concrete, Frame, Stucco
- Roof type
- Mixed
Listing Agency:
Douglas Elliman
(561) 655-8600
Listed By:
Ryan Mitchell Gaines · License #3367239
(917) 363-8858
Added: May 12
Changed: Jul 24
Last Checked: Jul 24 at 9:06PM
MLS# B26027504
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.
Villa Serena is a six-residence multifamily property built in 1926. The unit mix includes one 3-bedroom residence, two 2-bedroom residences, and three 1-bedroom residences. The property is described as beautifully maintained with thoughtfully updated interiors, and it includes charming architectural details.
The asset is located in West Palm Beach, Florida, within the Old Northwood Historic District. The listing describes the property as minutes from downtown West Palm Beach, Palm Beach Island, restaurants, shopping, and pristine beaches.
With six individual residences on a 0.14-acre site, Villa Serena offers multiple configurations across one-, two-, and three-bedroom layouts for long-term rentals, seasonal tenants, or owner-occupancy with supplemental income potential, as stated in the listing.
The asset is located in West Palm Beach, Florida, within the Old Northwood Historic District. The listing describes the property as minutes from downtown West Palm Beach, Palm Beach Island, restaurants, shopping, and pristine beaches.
With six individual residences on a 0.14-acre site, Villa Serena offers multiple configurations across one-, two-, and three-bedroom layouts for long-term rentals, seasonal tenants, or owner-occupancy with supplemental income potential, as stated in the listing.
Key Highlights
- Multifamily property with 6 individual residences in the Old Northwood Historic District
- Built in 1926 with concrete, frame, and stucco construction materials
- Unit mix: one 3‑bedroom, two 2‑bedroom, and three 1‑bedroom residences
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $129.8k | $33.24 |
| − Vacancy | −$6.2k | −$1.60 |
| EGI | $123.6k | $31.64 |
| − OpEx | −$55.6k | −$14.24 |
| NOI | $68.0k | $17.40 |
3,905 SF · lease $33.24/SF/yr · vacancy 4.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$970.9K
$849.6K – $1.13M
NOI $67,964 @ 7.0% cap · market cap 3.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.75M
$2.41M – $3.21M
NOI $192,508 @ 7.0% cap · market cap 10.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Villa Serena is a six-residence multifamily built in 1926, featuring a mix of one 3-bedroom, two 2-bedroom, and three 1-bedroom units.
Where is this apartment building located?
The property is located at 415 31st Street West Palm Beach, FL.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Multifamily property with 6 individual residences in the Old Northwood Historic District; Built in 1926 with concrete, frame, and stucco construction materials; Unit mix: one 3‑bedroom, two 2‑bedroom, and three 1‑bedroom residences
