New 4-Unit Multifamily
For Sale
$1,775,000
129 S K St, Lake Worth, FL 33460
Brand-new four-unit building with two-bedroom, two-bath layouts, private covered balconies, and individually metered electric and water.
Property Size4,064 SF
Days on Market70
Property Features for 129 S K St
General Information
Standard status
Active
Size
4,064 SF
Total Parking Spaces
5
Property subtype
Investment
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$4,789
Amenities
private covered balcony
individual central air conditioning
separately metered electric and water service
ADA-compliant accessible parking space
Building Details
Building Size
4,064 SF
Year Built
2026
Stories
1
Units
4
Tenancy
Multi
Listing Agency:
Universal Realty Associates
(561) 716-8009
Listed By:
Beytullah Atmaca
(561) 716-8009
Source:
Elliman
Added: Jun 22
Changed: Aug 25
Last Checked: Aug 29 at 1:14PM
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 Universal Realty Associates
Investment Insights
Based on property information with market context.
Brand-new, never-occupied 4-unit multifamily building for sale. Each unit includes 2 bedrooms and 2 bathrooms, along with a large modern kitchen and an open living area. Residents also have a private covered balcony, and each unit is served by its own central air conditioning system. Electric and water service are separately metered for individual unit convenience.
The property sits on a corner lot and includes one dedicated parking space per unit, an ADA-compliant accessible parking space, and additional street parking for guests.
The asset is offered as a turnkey investment with new construction features and low-maintenance considerations. The provided location description indicates convenient access to downtown Lake Worth, downtown Delray Beach, the Intracoastal Waterway, nearby beaches, public transportation, shopping, dining, entertainment, parks, and major employment centers.
The property sits on a corner lot and includes one dedicated parking space per unit, an ADA-compliant accessible parking space, and additional street parking for guests.
The asset is offered as a turnkey investment with new construction features and low-maintenance considerations. The provided location description indicates convenient access to downtown Lake Worth, downtown Delray Beach, the Intracoastal Waterway, nearby beaches, public transportation, shopping, dining, entertainment, parks, and major employment centers.
Key Highlights
- Year built 2026: brand‑new, never‑occupied 4‑unit multifamily building.
- All units feature 2 bedrooms and 2 bathrooms with a large modern kitchen and open living area.
- Each unit has a private covered balcony and an individual central air conditioning system.
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
$67,746
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
3.82%
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%
$1,354,920
$1.4M
Cap Rate 7%
$967,800
$967.8K
Cap Rate 9%
$752,733
$752.7K
Market Conditions
NOI Build-Up for 4,064 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
$102.4K $25.20/SF
− Vacancy
−$5.6K −$1.39/SF
EGI
$96.8K $23.81/SF
− OpEx
−$29.0K −$7.14/SF
NOI
$67.7K $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%
$1,354,920
Cap Rate 7%
$967,800
Cap Rate 9%
$752,733
Alternative Uses
Best Use
Multifamily LT 5
$967.8K
$846.8K – $1.13M
NOI $67,746 @ 7.0% cap · market cap 3.82%
Second Best
Apartment 5plus
$892.9K
$781.3K – $1.04M
NOI $62,502 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$2.86M
$2.50M – $3.34M
NOI $200,347 @ 7.0% cap · market cap 11.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,808
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Brand-new four-unit building with two-bedroom, two-bath layouts, private covered balconies, and individually metered electric and water.
Where is this quadplex located?
The property is located at 129 S K St Lake Worth, FL.
What is the asking price?
The asking price for this property is $1,775,000.
What are key features of this property?
This property features: Year built 2026: brand‑new, never‑occupied 4‑unit multifamily building.; All units feature 2 bedrooms and 2 bathrooms with a large modern kitchen and open living area.; Each unit has a private covered balcony and an individual central air conditioning system.
