Four-Unit Quadplex with
For Sale
Contact for pricing
1172 W 34th Street # 1, Riviera Beach, FL 33404
Four-unit quadplex with three 2-bedroom and one 3-bedroom unit, with annual leases in place.
Property Size3,016 SF
Lot Size0.17 Acres
Price / SF$243.70
Days on Market74
Property Features for 1172 W 34th Street # 1
General Information
Standard status
Active
Size
3,016 SF
Lot size
0.17 Acres
Property subtype
Multifamily
Additional Details
Highway Access
Yes
Multifamily Units
4
Building Details
Year Built
1960
Listing Agency:
Kanga Property Management
Listed By:
Fabro Beverly
Source:
Crexi
Added: May 25
Changed: Jul 10
Last Checked: Jul 25 at 3:24PM
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 Kanga Property Management
Investment Insights
Based on property information with market context.
This property is a four-unit quadplex configured as three 2-bedroom, 1-bath units and one 3-bedroom, 1-bath unit. The units are situated within an approximately 3,000-square-foot building footprint on a 0.17-acre lot. The seller notes that annual leases are in place.
The property is located in Riviera Beach, within the Pleasant Heights subdivision. It is described as minutes from Singer Island beaches and nearby shopping and dining, with easy access to I-95 and Blue Heron Blvd.
For investors or buyers seeking a small, manageable income asset, this quadplex offers a diversified unit mix across four separate homes. The existing leased status may support continuity of cash flow, and the straightforward 2-bedroom and 3-bedroom configuration can appeal to tenants looking for practical bedroom count options.
The property is located in Riviera Beach, within the Pleasant Heights subdivision. It is described as minutes from Singer Island beaches and nearby shopping and dining, with easy access to I-95 and Blue Heron Blvd.
For investors or buyers seeking a small, manageable income asset, this quadplex offers a diversified unit mix across four separate homes. The existing leased status may support continuity of cash flow, and the straightforward 2-bedroom and 3-bedroom configuration can appeal to tenants looking for practical bedroom count options.
Key Highlights
- 4‑unit multifamily quadplex in Pleasant Heights, Riviera Beach, FL
- Unit mix: three 2 bed/1 bath units and one 3 bed/1 bath unit
- Approximately 3,000 sq ft total living area on a 0.17‑acre lot
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
$50,276
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
6.84%
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%
$1,005,520
$1.0M
Cap Rate 7%
$718,229
$718.2K
Cap Rate 9%
$558,622
$558.6K
Market Conditions
NOI Build-Up for 3,016 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
$76.0K $25.20/SF
− Vacancy
−$4.2K −$1.39/SF
EGI
$71.8K $23.81/SF
− OpEx
−$21.5K −$7.14/SF
NOI
$50.3K $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%
$1,005,520
Cap Rate 7%
$718,229
Cap Rate 9%
$558,622
Alternative Uses
Best Use
Multifamily LT 5
$718.2K
$628.5K – $837.9K
NOI $50,276 @ 7.0% cap · market cap 6.84%
Second Best
Apartment 5plus
$662.6K
$579.8K – $773.1K
NOI $46,384 @ 7.0% cap · market cap 6.31%
Theoretical Best
Office A
$2.12M
$1.86M – $2.48M
NOI $148,683 @ 7.0% cap · market cap 20.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
474
Businesses Nearby
Explore this area
Business Placement
Demographics for 33404, FL
31,869
Population
15,990
Households
2
Avg Household Size
42
Median Age
27%
College-Educated
87%
High-School Grad
7.3 sq mi
ZIP Area
4,366
Density / Sq Mi
$60,225
Median Household Income
$35,521
Median Earnings
$1,507
Median Rent
$305,600
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-unit quadplex with three 2-bedroom and one 3-bedroom unit, with annual leases in place.
Where is this quadplex located?
The property is located at 1172 W 34th Street # 1 Riviera Beach, FL.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: 4‑unit multifamily quadplex in Pleasant Heights, Riviera Beach, FL; Unit mix: three 2 bed/1 bath units and one 3 bed/1 bath unit; Approximately 3,000 sq ft total living area on a 0.17‑acre lot
