Quadplex with Four 1BR
For Sale
Contact for pricing
1008 N 18 AVENUE, Lake Worth, FL 33460
Four well-kept 1-bedroom, 1-bath units offer straightforward residential income in a convenient beach/downtown area.
Property Size3,036 SF
Price / SF$303.19
Days on Market71
Property Features for 1008 N 18 AVENUE
General Information
Standard status
Active
Size
3,036 SF
Total Parking Spaces
4
Property subtype
Multifamily
Zoning
SF-TF-14
Additional Details
Multifamily Units
4
Building Details
Year Built
1970
Listing Agency:
Urban Investments Realty LLC
(305) 992-6440
Listed By:
Iliana Hernandez · License #0439222
Source:
Crexi
Added: Jun 9
Changed: Aug 7
Last Checked: Aug 17 at 5:55AM
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 Urban Investments Realty LLC
Investment Insights
Based on property information with market context.
This quadplex features four separate residential units, each configured as a 1-bedroom, 1-bath home. The property is presented in great condition based on available information, with the multi-family setup creating a compact, manageable income profile for an owner or operator.
The asset is located close to both the beach and downtown, which can be a practical draw for tenants seeking easy access to coastal and central-area activities. The property’s location is highlighted as a key factor in the provided remarks.
For prospective buyers, this layout offers a simple tenant mix of all 1-bedroom units, supporting flexible leasing and property management compared to multi-unit buildings with varied unit types. With four units on site and a condition described as strong, the property may fit investors and owner-operators looking for a straightforward residential income asset in a well-positioned area.
The asset is located close to both the beach and downtown, which can be a practical draw for tenants seeking easy access to coastal and central-area activities. The property’s location is highlighted as a key factor in the provided remarks.
For prospective buyers, this layout offers a simple tenant mix of all 1-bedroom units, supporting flexible leasing and property management compared to multi-unit buildings with varied unit types. With four units on site and a condition described as strong, the property may fit investors and owner-operators looking for a straightforward residential income asset in a well-positioned area.
Key Highlights
- Four‑unit multi‑family property built in 1970
- Four well‑kept 1‑bedroom, 1‑bath units
- Convenient beach and downtown area
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
$50,610
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
5.50%
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%
$1,012,200
$1.0M
Cap Rate 7%
$723,000
$723.0K
Cap Rate 9%
$562,333
$562.3K
Market Conditions
NOI Build-Up for 3,036 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
$76.5K $25.20/SF
− Vacancy
−$4.2K −$1.39/SF
EGI
$72.3K $23.81/SF
− OpEx
−$21.7K −$7.14/SF
NOI
$50.6K $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%
$1,012,200
Cap Rate 7%
$723,000
Cap Rate 9%
$562,333
Alternative Uses
Best Use
Multifamily LT 5
$723.0K
$632.6K – $843.5K
NOI $50,610 @ 7.0% cap · market cap 5.50%
Second Best
Apartment 5plus
$667.0K
$583.7K – $778.2K
NOI $46,692 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$2.14M
$1.87M – $2.49M
NOI $149,668 @ 7.0% cap · market cap 16.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
661
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Four well-kept 1-bedroom, 1-bath units offer straightforward residential income in a convenient beach/downtown area.
Where is this quadplex located?
The property is located at 1008 N 18 AVENUE Lake Worth, FL.
What is the asking price?
The asking price for this property is $920,500.
What are key features of this property?
This property features: Four‑unit multi‑family property built in 1970; Four well‑kept 1‑bedroom, 1‑bath units; Convenient beach and downtown area
