Quadplex with Separate Triplex
For Sale
$775,000
817 NW 7th Street, West Palm Beach, FL 33401
MULTI_FAMILY - West Palm Beach, FL
Property Size2,196 SF
Lot Size0.14 Acres
Price / SF$352.91
Days on Market111
Property Features for 817 NW 7th Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
NWD-R (city)
Bedrooms
9
Full bathrooms
5
Rooms
Bedroom 6, Bedroom 7, Bedroom 8, Bathroom 3, Bathroom 1, Bedroom 5, Bathroom 2, Bathroom 5, Bathroom 4, Bedroom 3, Bedroom 4, Bedroom 1, Bedroom 9, Bedroom 2
Pets allowed
No, Yes
Exterior features
Balcony
Subdivision
FRESHWATER ADD TO WPB
Lot features
Sidewalks
Elementary school
U. B. Kinsey / Palmview
Middle school
Conniston Community
High school
Forest Hill
Standard status
Active
APN
74434316010030090
Size
2,196 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
FRESHWATER ADD TO WPB AMNDED LT 9 BLK 3
Tax Annual Amount
7569
Legal Description
FRESHWATER ADD TO WPB AMNDED LT 9 BLK 3
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Ceiling Fan(s), Window Unit(s), Wall/Window Unit(s), Electric
Water source
Public
Building Details
Year built
1935
Floors in Building
2
Number of units
4
Flooring type
Tile
Building materials
Vinyl Siding, Wood Siding
Roof type
Composition, Shingle
Listing Agency:
LoKation
(954) 545-5583
Listed By:
Gaetjen Jerome · License #3463213
(954) 892-9912
Added: Apr 28
Changed: Aug 15
Last Checked: Aug 16 at 11:06AM
MLS# B26022899
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.
Located at 817 NW 7th Street in West Palm Beach, this quadplex-style setup combines a 5-bedroom, 2-bath single-family home with a separate triplex in the rear. The rear triplex includes a 1-bedroom/1-bath unit, a studio with 1 bath, and a 2-bedroom/1-bath apartment.
Built in 1935, the property has roof work completed on both the primary building and the rear structures, with roofs replaced in 2018. Utilities are separately managed, with each unit individually metered for electricity and each building served by its own water meter. Public water and public sewer are provided, and cable service is available.
The exterior features include a balcony, and interior finishes include tile flooring. Cooling is supported by ceiling fans and electric/wall or window unit(s). The property is zoned NWD-R (city).
Built in 1935, the property has roof work completed on both the primary building and the rear structures, with roofs replaced in 2018. Utilities are separately managed, with each unit individually metered for electricity and each building served by its own water meter. Public water and public sewer are provided, and cable service is available.
The exterior features include a balcony, and interior finishes include tile flooring. Cooling is supported by ceiling fans and electric/wall or window unit(s). The property is zoned NWD-R (city).
Key Highlights
- Roofs replaced in 2018 for both buildings
- Separate triplex rear unit mix: 1BR/1BA, Studio/1BA, 2BR/1BA
- Each unit individually metered for electricity; separate water meter for each building
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
$41,095
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
5.30%
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%
$821,900
$821.9K
Cap Rate 7%
$587,071
$587.1K
Cap Rate 9%
$456,611
$456.6K
Market Conditions
NOI Build-Up for 2,196 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
$61.9K $28.20/SF
− Vacancy
−$3.2K −$1.47/SF
EGI
$58.7K $26.73/SF
− OpEx
−$17.6K −$8.02/SF
NOI
$41.1K $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%
$821,900
Cap Rate 7%
$587,071
Cap Rate 9%
$456,611
Alternative Uses
Best Use
Multifamily LT 5
$587.1K
$513.7K – $684.9K
NOI $41,095 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$546.0K
$477.8K – $637.0K
NOI $38,220 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$1.55M
$1.35M – $1.80M
NOI $108,258 @ 7.0% cap · market cap 13.97%
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
4,275
Businesses Nearby
Explore this area
Business Placement
Demographics for 33401, FL
31,302
Population
19,051
Households
1.6
Avg Household Size
40
Median Age
42%
College-Educated
89%
High-School Grad
5.1 sq mi
ZIP Area
6,138
Density / Sq Mi
$60,942
Median Household Income
$39,932
Median Earnings
$1,774
Median Rent
$430,900
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 - Zoned NWD-R (city) and configured as a single-family home plus a rear triplex with individually metered utilities.
Where is this quadplex located?
The property is located at 817 NW 7th Street West Palm Beach, FL.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Roofs replaced in 2018 for both buildings; Separate triplex rear unit mix: 1BR/1BA, Studio/1BA, 2BR/1BA; Each unit individually metered for electricity; separate water meter for each building
