Turnkey Fourplex Townhome
For Sale
$2,050,000
Pending
1031 Goldenrod Rd, Wellington, FL 33414
Fully renovated fourplex with four 4-bedroom, 2.5-bath townhome-style units.
Property Size6,332 SF
Days on Market82
Property Features for 1031 Goldenrod Rd
General Information
Standard status
Pending
Size
6,332 SF
Property subtype
Investment
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$20,732
Building Details
Building Size
6,332 SF
Year Built
1989
Year Renovated
2026
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
regency realty services
Listed By:
Mohammad Shafiee · License #3159682
(561) 452-5757
Source:
Elliman
Added: Jun 17
Changed: Aug 25
Last Checked: Aug 24 at 9:11AM
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 regency realty services
Investment Insights
Based on property information with market context.
This turnkey fourplex features four townhome-style units, each with 4 bedrooms and 2.5 bathrooms. The property has been extensively updated throughout, including impact windows, HVAC systems, water heaters, kitchens, cabinetry, flooring, bathrooms, and interior finishes.
The renovations were largely completed between 2024 and 2026. The home is positioned in a Wellington location with convenient access to shopping, dining, parks, major roadways, and local equestrian venues.
With all four units updated with major capital improvements, this is a low-maintenance, income-producing residential asset built for straightforward ownership.
The renovations were largely completed between 2024 and 2026. The home is positioned in a Wellington location with convenient access to shopping, dining, parks, major roadways, and local equestrian venues.
With all four units updated with major capital improvements, this is a low-maintenance, income-producing residential asset built for straightforward ownership.
Key Highlights
- Fully renovated fourplex built in 1989 with four 4‑bedroom, 2.5‑bath townhome‑style units
- All four units updated with impact windows, HVAC systems, water heaters, kitchens, cabinetry, flooring, and interior finishes
- Bathrooms updated across the units with refreshed interior finishes throughout
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
$105,553
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
5.15%
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%
$2,111,060
$2.1M
Cap Rate 7%
$1,507,900
$1.5M
Cap Rate 9%
$1,172,811
$1.2M
Market Conditions
NOI Build-Up for 6,332 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
$159.6K $25.20/SF
− Vacancy
−$8.8K −$1.39/SF
EGI
$150.8K $23.81/SF
− OpEx
−$45.2K −$7.14/SF
NOI
$105.6K $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%
$2,111,060
Cap Rate 7%
$1,507,900
Cap Rate 9%
$1,172,811
Alternative Uses
Best Use
Multifamily LT 5
$1.51M
$1.32M – $1.76M
NOI $105,553 @ 7.0% cap · market cap 5.15%
Second Best
Apartment 5plus
$1.39M
$1.22M – $1.62M
NOI $97,382 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$4.46M
$3.90M – $5.20M
NOI $312,154 @ 7.0% cap · market cap 15.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
707
Businesses Nearby
Explore this area
Business Placement
Demographics for 33414, FL
59,802
Population
23,111
Households
2.6
Avg Household Size
41
Median Age
45%
College-Educated
94%
High-School Grad
28.3 sq mi
ZIP Area
2,113
Density / Sq Mi
$105,953
Median Household Income
$52,892
Median Earnings
$2,326
Median Rent
$533,800
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 - Fully renovated fourplex with four 4-bedroom, 2.5-bath townhome-style units.
Where is this quadplex located?
The property is located at 1031 Goldenrod Rd Wellington, FL.
What is the asking price?
The asking price for this property is $2,050,000.
What are key features of this property?
This property features: Fully renovated fourplex built in 1989 with four 4‑bedroom, 2.5‑bath townhome‑style units; All four units updated with impact windows, HVAC systems, water heaters, kitchens, cabinetry, flooring, and interior finishes; Bathrooms updated across the units with refreshed interior finishes throughout
