Income-Producing Multifamily
For Sale
$914,500
1008 18th Avenue North, Lake Worth, FL 33460
Fully occupied 4-unit property in Lake Worth Beach, Florida.
Property Size2,484 SF
Price / SF$368.16
Days on Market157
Property Features for 1008 18th Avenue North
General Information
Standard status
Active
Size
2,484 SF
Property subtype
Multi-Family Income / Fourplex
Taxes and HOA fees
Annual Taxes
$12,601
Building Details
Year Built
1970
Listing Agency:
Fausto Commercial Realty Consultants Inc
(786) 748-7373
Listed By:
Elior Levi · License #3574869
(786) 748-7373
Source:
Compass
Added: Mar 13
Changed: Aug 8
Last Checked: Jul 16 at 6:43AM
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 Fausto Commercial Realty Consultants Inc
Investment Insights
Based on property information with market context.
This is a rare opportunity to acquire a fully occupied, income-producing 4-unit multifamily property located in Lake Worth Beach, Florida. Each unit has been recently upgraded with central AC, new flooring, modern lighting, and renovated kitchens and bathrooms. The property also includes a coin laundry room for additional income. The building generates almost $7,000 per month and offers immediate cash flow with upside potential through rental growth and operational improvements. Ideally located just minutes from downtown Lake Worth Beach, the area’s beaches, I-95, and Palm Beach International Airport, this investment combines stable income with long-term appreciation potential. The property size is 2484 square feet.
Key Highlights
- Fully occupied, income‑producing 4‑unit multifamily property.
- Generates almost $7,000 per month with immediate cash flow.
- Each unit recently upgraded with central AC, new flooring, modern lighting, and renovated kitchens/bathrooms.
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
$41,408
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
4.53%
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%
$828,160
$828.2K
Cap Rate 7%
$591,543
$591.5K
Cap Rate 9%
$460,089
$460.1K
Market Conditions
NOI Build-Up for 2,484 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
$62.6K $25.20/SF
− Vacancy
−$3.4K −$1.39/SF
EGI
$59.2K $23.81/SF
− OpEx
−$17.7K −$7.14/SF
NOI
$41.4K $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%
$828,160
Cap Rate 7%
$591,543
Cap Rate 9%
$460,089
Alternative Uses
Best Use
Multifamily LT 5
$591.5K
$517.6K – $690.1K
NOI $41,408 @ 7.0% cap · market cap 4.53%
Second Best
Apartment 5plus
$545.7K
$477.5K – $636.7K
NOI $38,202 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,456 @ 7.0% cap · market cap 13.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
584
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied 4-unit property in Lake Worth Beach, Florida.
Where is this quadplex located?
The property is located at 1008 18th Avenue North Lake Worth, FL.
What is the asking price?
The asking price for this property is $914,500.
What are key features of this property?
This property features: Fully occupied, income‑producing 4‑unit multifamily property.; Generates almost $7,000 per month with immediate cash flow.; Each unit **recently upgraded with central AC, new flooring, modern lighting, and renovated kitchens/bathrooms.**
