Low-Density Multifamily Apartment
1000 W Lakewood Rd West Palm Beach, FL 33405
New
For Sale
$1,495,000
Seven-unit low-density apartment property with wood-frame buildings and brand new pitched composite shingle roofs.
Property Size5,026 SF
Lot Size0.31 Acres
Price / SF$297.45
Days on Market5
Property Features for 1000 W Lakewood Rd
General Information
Standard status
Active
Size
5,026 SF
Lot size
0.31 Acres
Property subtype
Multifamily
Listing Agency:
Fort Lauderdale Office
(954) 245-3494
Listed By:
River Rhoads · License #License(s): FL: SL3509795
(954) 245-3494
Source:
Marcusmillichap
Added: Jul 25
Changed: Jul 26
Last Checked: Jul 29 at 3:32AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Fort Lauderdale Office
Investment Insights
Based on property information with market context.
Lakewood Flats is a seven-unit, low-density multifamily community comprising four separate buildings with wood frame construction. The property features brand new pitched composite shingle roofs and offers a unit mix of four two-bedroom/one-bath apartments, one two-bedroom/two-bath apartment, and two three-bedroom/one-bath apartments.
The buildings were constructed between 1926 and 1940. The property is centrally located with convenient access to Downtown West Palm Beach, I-95, and Palm Beach International Airport, as well as major employment hubs including Good Samaritan Medical Center and Palm Beach Atlantic University.
With a mix of two- and three-bedroom floorplans, the property provides options for a range of household sizes within a residential income asset.
The buildings were constructed between 1926 and 1940. The property is centrally located with convenient access to Downtown West Palm Beach, I-95, and Palm Beach International Airport, as well as major employment hubs including Good Samaritan Medical Center and Palm Beach Atlantic University.
With a mix of two- and three-bedroom floorplans, the property provides options for a range of household sizes within a residential income asset.
Key Highlights
- Seven‑unit multifamily property at 1000 W Lakewood Road, West Palm Beach, FL
- 5,026 gross SF on a 0.31‑acre lot with a low‑density layout
- Four wood‑frame buildings constructed between 1926 and 1940
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 | $167.1k | $33.24 |
| − Vacancy | −$8.0k | −$1.60 |
| EGI | $159.0k | $31.64 |
| − OpEx | −$71.6k | −$14.24 |
| NOI | $87.5k | $17.40 |
5,026 SF · lease $33.24/SF/yr · vacancy 4.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.25M
$1.09M – $1.46M
NOI $87,475 @ 7.0% cap · market cap 5.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.54M
$3.10M – $4.13M
NOI $247,771 @ 7.0% cap · market cap 16.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Seven-unit low-density apartment property with wood-frame buildings and brand new pitched composite shingle roofs.
Where is this apartment building located?
The property is located at 1000 W Lakewood Rd West Palm Beach, FL.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Seven‑unit multifamily property at 1000 W Lakewood Road, West Palm Beach, FL; 5,026 gross SF on a 0.31‑acre lot with a low‑density layout; Four wood‑frame buildings constructed between 1926 and 1940
