Lake Worth Beach Triplex
For Sale
$669,000
19 S E St, Lake Worth, FL 33460
Income-producing triplex near downtown Lake Worth Beach and the ocean.
Property Size3,320 SF
Lot Size0.15 Acres
Days on Market163
Property Features for 19 S E St
General Information
Standard status
Active
Size
3,320 SF
Lot size
0.15 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$10,446
Building Details
Building Size
3,320 SF
Year Built
1928
Stories
2
Units
3
Listing Agency:
(561) 891-2192
Listed By:
Gisela Moro
(561) 891-2192
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 12:12PM
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 Gisela Moro
Investment Insights
Based on property information with market context.
This income-producing triplex is located steps from downtown Lake Worth Beach and minutes from the ocean. Situated on a 0.16-acre lot, the property is zoned 0800 multifamily, allowing for up to five units or potentially more. The property offers the option to restore and rent the existing three units at full market value, or tear down and build new to maximize cash flow potential. It is located half a block from Lucerne and Lake Avenue, an area known for its walkability and proximity to shops, dining, entertainment, and the Tri-Rail station. Current tenants are month-to-month, providing flexibility to either retain them for steady income or renovate and reposition for a higher return. The property requires rehab and upgrades and is located in one of Lake Worth's sought-after rental corridors.
Key Highlights
- Prime location: Steps from Downtown Lake Worth Beach, near shops, dining, and entertainment.
- Income‑producing triplex with potential for increased cash flow.
- Multifamily zoning (0800) allows for up to five units (or potentially more).
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
$55,344
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
8.27%
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%
$1,106,880
$1.1M
Cap Rate 7%
$790,629
$790.6K
Cap Rate 9%
$614,933
$614.9K
Market Conditions
NOI Build-Up for 3,320 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
$83.7K $25.20/SF
− Vacancy
−$4.6K −$1.39/SF
EGI
$79.1K $23.81/SF
− OpEx
−$23.7K −$7.14/SF
NOI
$55.3K $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%
$1,106,880
Cap Rate 7%
$790,629
Cap Rate 9%
$614,933
Alternative Uses
Best Use
Multifamily LT 5
$790.6K
$691.8K – $922.4K
NOI $55,344 @ 7.0% cap · market cap 8.27%
Second Best
Apartment 5plus
$729.4K
$638.2K – $851.0K
NOI $51,059 @ 7.0% cap · market cap 7.63%
Theoretical Best
Office A
$2.34M
$2.05M – $2.73M
NOI $163,669 @ 7.0% cap · market cap 24.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
771
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?
Triplex - Income-producing triplex near downtown Lake Worth Beach and the ocean.
Where is this triplex located?
The property is located at 19 S E St Lake Worth, FL.
What is the asking price?
The asking price for this property is $669,000.
What are key features of this property?
This property features: Prime location: Steps from Downtown Lake Worth Beach, near shops, dining, and entertainment.; Income‑producing triplex with potential for increased cash flow.; Multifamily zoning (0800) allows for up to five units (or potentially more).
