Renovated Duplex with Impact
For Sale
$369,000
1117 3rd Ave N Unit 1, Lake Worth, FL 33460
Renovated duplex featuring impact windows and doors, plus tankless hot water heaters in each unit.
Property Size952 SF
Price / SF$387.61
Days on Market103
Property Features for 1117 3rd Ave N Unit 1
General Information
Standard status
Active
Size
952 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
impact windows and doors
tankless hot water heater
granite kitchen tops
stainless steel appliances
Building Details
Year Built
1953
Listing Agency:
Realty One Group Innovation
Listed By:
Georgette Laguerre · License #3497394
(561) 643-6859
Source:
Wesellhomes
Added: Jul 26
Changed: Oct 25
Last Checked: Oct 7 at 12:59PM
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 Realty One Group Innovation
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Investment Insights
Based on property information with market context.
This renovated duplex includes impact windows and doors, with a tankless hot water heater in each unit. The units also feature updated kitchen finishes, including new granite kitchen tops and stainless appliances.
The property is located in Lake Worth Beach, minutes from the beach and near the Publix Shopping Center.
Each unit is separately equipped with its own tankless hot water heater, supporting practical day-to-day resident convenience.
The property is located in Lake Worth Beach, minutes from the beach and near the Publix Shopping Center.
Each unit is separately equipped with its own tankless hot water heater, supporting practical day-to-day resident convenience.
Key Highlights
- Duplex built in 1953 in Lake Worth Beach
- Renovated units with impact windows and impact doors
- Tankless hot water heater in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,870
Cap Rate
4.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$317,400
$317.4K
Cap Rate 7%
$226,714
$226.7K
Cap Rate 9%
$176,333
$176.3K
Market Conditions
NOI Build-Up for 952 SF
Gross rent
$24.0K $25.20/SF
− Vacancy
−$1.3K −$1.39/SF
EGI
$22.7K $23.81/SF
− OpEx
−$6.8K −$7.14/SF
NOI
$15.9K $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 Rate 5%
$317,400
Cap Rate 7%
$226,714
Cap Rate 9%
$176,333
Alternative Uses
Best Use
Multifamily LT 5
$226.7K
$198.4K – $264.5K
NOI $15,870 @ 7.0% cap · market cap 4.30%
Second Best
Apartment 5plus
$209.2K
$183.0K – $244.0K
NOI $14,641 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$670.5K
$586.7K – $782.2K
NOI $46,932 @ 7.0% cap · market cap 12.72%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,159
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Renovated duplex featuring impact windows and doors, plus tankless hot water heaters in each unit.
Where is this duplex located?
The property is located at 1117 3rd Ave N Unit 1 Lake Worth, FL.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: Duplex built in 1953 in Lake Worth Beach; Renovated units with impact windows and impact doors; Tankless hot water heater in each unit
