3-Unit Triplex with Metal
1206 NE 3rd Avenue, Delray Beach, FL 33444
For Sale
$849,900
Impact windows and on-site laundry serve this income-producing residential property.
Property Size1,798 SF
Price / SF$472.69
Days on Market41
Property Features for 1206 NE 3rd Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Taxes and HOA fees
Annual Taxes
Amenities
Outdoor Living Area
Porch
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
LoKation
(954) 545-5583
Listed By:
Suzanne M Carll · License FL #676381
(561) 251-3810
Source:
Bernard-kelly
Added: Sep 30
Changed: Nov 5
Last Checked: Nov 9 at 5:04AM
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 LoKation
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Investment Insights
Based on property information with market context.
This 3-unit property in Delray Beach contains 1,798 square feet and dates to 1959. Its features include impact windows, a metal roof, on-site laundry, and single-meter utility service. The property is zoned R-1-A by the city and occupies a 12,937-square-foot double lot.
At 1206 NE 3rd Avenue, the property is minutes from Downtown Delray, Atlantic Avenue, beaches, shopping, and dining. New duplex and multifamily development is occurring nearby.
The property is offered in its current condition. The seller may provide it vacant with 60 days’ written notice.
At 1206 NE 3rd Avenue, the property is minutes from Downtown Delray, Atlantic Avenue, beaches, shopping, and dining. New duplex and multifamily development is occurring nearby.
The property is offered in its current condition. The seller may provide it vacant with 60 days’ written notice.
Key Highlights
- Triplex on a 12,937‑square‑foot double lot
- 1,798 square feet; built in 1959
- Impact windows, metal roof, and on‑site laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,475
Cap Rate
3.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$549,500
$549.5K
Cap Rate 7%
$392,500
$392.5K
Cap Rate 9%
$305,278
$305.3K
Market Conditions
NOI Build-Up for 1,798 SF
Gross rent
$52.9K $29.40/SF
− Vacancy
−$2.9K −$1.62/SF
EGI
$50.0K $27.78/SF
− OpEx
−$22.5K −$12.50/SF
NOI
$27.5K $15.28/SF
Area
Palm Beach County, FL
Vacancy
5.50%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$549,500
Cap Rate 7%
$392,500
Cap Rate 9%
$305,278
Alternative Uses
Best Use
Apartment 5plus
$392.5K
$343.4K – $457.9K
NOI $27,475 @ 7.0% cap · market cap 3.23%
Second Best
Multifamily LT 5
$301.6K
$263.9K – $351.8K
NOI $21,109 @ 7.0% cap · market cap 2.48%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,638 @ 7.0% cap · market cap 10.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Location Intelligence
Trade Area within ½ mile
788
Businesses Nearby
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Business Placement
Demographics for 33444, FL
22,671
Population
10,469
Households
2.2
Avg Household Size
41
Median Age
33%
College-Educated
84%
High-School Grad
5.0 sq mi
ZIP Area
4,534
Density / Sq Mi
$74,803
Median Household Income
$37,915
Median Earnings
$1,712
Median Rent
$425,200
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Palm Beach County, FL
Properties on Market for Triplexes in Palm Beach County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Impact windows and on-site laundry serve this income-producing residential property.
Where is this triplex located?
The property is located at 1206 NE 3rd Avenue Delray Beach, FL.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Triplex on a 12,937‑square‑foot double lot; 1,798 square feet; built in 1959; Impact windows, metal roof, and on‑site laundry
