8-Unit Multifamily
For Sale
$1,940,000
1001 S Federal Hwy, Lake Worth, FL 33460
Eight apartments include six one-bedroom homes, a studio, and an efficiency unit near Lake Worth Beach.
Property Size3,762 SF
Price / SF$515.68
Days on Market39
Property Features for 1001 S Federal Hwy
General Information
Standard status
Active
Size
3,762 SF
Units
Unit Mix
6 x 1BR/1BA, 1 x studio, 1 x efficiency
Multifamily Units
8
Additional Details
Gross Income
$167,136
Building Details
Year Built
1958
Listing Agency:
Home Sold Realty LLC
(833) 700-2782
Listed By:
Camilo De la Cruz Perez · License #3467504
Source:
Thepennteam
Added: Jul 24
Changed: Aug 30
Last Checked: Aug 30 at 7:49PM
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
Investment Insights
Based on property information with market context.
This 8-unit multifamily property, built in 1958, includes six 1-bedroom/1-bathroom apartments, one studio, and one efficiency apartment. One unit is currently vacant, creating a defined lease-up component within the existing unit mix. The property measures 3,762 square feet.
The asset is located along South Federal Highway in Lake Worth Beach, with the Intracoastal Waterway and beach nearby. Downtown Lake Worth Beach is also within minutes, placing the property near established coastal amenities and local commercial activity.
The asset is located along South Federal Highway in Lake Worth Beach, with the Intracoastal Waterway and beach nearby. Downtown Lake Worth Beach is also within minutes, placing the property near established coastal amenities and local commercial activity.
Key Highlights
- 8‑unit multifamily property built in 1958
- Unit mix includes six 1‑bedroom/1‑bathroom apartments, one studio, and one efficiency
- 3,762 square feet of property size
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
$57,857
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
2.98%
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%
$1,157,140
$1.2M
Cap Rate 7%
$826,529
$826.5K
Cap Rate 9%
$642,856
$642.9K
Market Conditions
NOI Build-Up for 3,762 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
$110.2K $29.28/SF
− Vacancy
−$5.0K −$1.32/SF
EGI
$105.2K $27.96/SF
− OpEx
−$47.3K −$12.58/SF
NOI
$57.9K $15.38/SF
Area
Palm Beach County, FL
Vacancy
4.50%
Lease Rate
$29.28 /SF/Yr
Expense Ratio
45.00%
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%
$1,157,140
Cap Rate 7%
$826,529
Cap Rate 9%
$642,856
Alternative Uses
Best Use
Apartment 5plus
$826.5K
$723.2K – $964.3K
NOI $57,857 @ 7.0% cap · market cap 2.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.65M
$2.32M – $3.09M
NOI $185,459 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
646
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?
Apartment building - Eight apartments include six one-bedroom homes, a studio, and an efficiency unit near Lake Worth Beach.
Where is this apartment building located?
The property is located at 1001 S Federal Hwy Lake Worth, FL.
What is the asking price?
The asking price for this property is $1,940,000.
What are key features of this property?
This property features: 8‑unit multifamily property built in 1958; Unit mix includes six 1‑bedroom/1‑bathroom apartments, one studio, and one efficiency; 3,762 square feet of property size
