5-Unit Multifamily
131 S FEDERAL Highway, Lake Worth, FL 33460
For Sale
$1,425,000
The renovated property combines compact studio units with larger one- and three-bedroom layouts.
Property Size3,112 SF
Price / SF$457.90
Days on Market118
Property Features for 131 S FEDERAL Highway
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Gross Income
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Home Sold Realty LLC
Listed By:
Camilo De la Cruz Perez · License FL #3467504
(833) 700-2782
Source:
Jofregroup
Added: Jul 18
Changed: Nov 12
Last Checked: Nov 11 at 9:06PM
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 Home Sold Realty LLC
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Investment Insights
Based on property information with market context.
Federal Flats is a renovated multifamily property with five apartments. The unit mix includes three studios, one one-bedroom, one-bathroom apartment, and one three-bedroom, one-bathroom apartment. Built in 1924, the building contains 3,112 square feet.
The property is in Lake Worth Beach, near downtown, the Intracoastal Waterway, and the beach. One studio is vacant; the other four apartments are occupied.
The property is in Lake Worth Beach, near downtown, the Intracoastal Waterway, and the beach. One studio is vacant; the other four apartments are occupied.
Key Highlights
- Five apartments: three studios, one 1‑bedroom/1‑bathroom unit, and one 3‑bedroom/1‑bathroom unit
- Renovated multifamily property built in 1924
- 3,112 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,553
Cap Rate
3.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$951,060
$951.1K
Cap Rate 7%
$679,329
$679.3K
Cap Rate 9%
$528,367
$528.4K
Market Conditions
NOI Build-Up for 3,112 SF
Gross rent
$91.5K $29.40/SF
− Vacancy
−$5.0K −$1.62/SF
EGI
$86.5K $27.78/SF
− OpEx
−$38.9K −$12.50/SF
NOI
$47.6K $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%
$951,060
Cap Rate 7%
$679,329
Cap Rate 9%
$528,367
Alternative Uses
Best Use
Apartment 5plus
$679.3K
$594.4K – $792.6K
NOI $47,553 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.19M
$1.92M – $2.56M
NOI $153,415 @ 7.0% cap · market cap 10.77%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,808
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
$333,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Palm Beach County, FL
Properties on Market for Apartment buildings in Palm Beach County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - The renovated property combines compact studio units with larger one- and three-bedroom layouts.
Where is this apartment building located?
The property is located at 131 S FEDERAL Highway Lake Worth, FL.
What is the asking price?
The asking price for this property is $1,425,000.
What are key features of this property?
This property features: Five apartments: three studios, one 1‑bedroom/1‑bathroom unit, and one 3‑bedroom/1‑bathroom unit; Renovated multifamily property built in 1924; 3,112 square feet
