Triplex with Impact
New
For Sale
$899,000
1206 NE 3RD Avenue, Delray Beach, FL 33444
The property includes an on-site laundry room and a single meter.
Property Size2,572 SF
Lot Size0.30 Acres
Price / SF$500
Days on Market2
Property Features for 1206 NE 3RD Avenue
General Information
Standard status
Active
Size
2,572 SF
Total Parking Spaces
5
Lot size
0.30 Acres
Property subtype
Residential Income
Zoning
R-1-A (city)
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$12,230
Amenities
laundry room
Building Details
Building Size
2,572 SF
Year Built
1959
Buildings
1
Stories
1
Listing Agency:
LoKation
Listed By:
Suzanne M Carll · License #676381
(561) 251-3810
Source:
Laerrealty
Added: Oct 5
Changed: Oct 6
Last Checked: Oct 6 at 2:28AM
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
Investment Insights
Based on property information with market context.
This three-unit property at 1206 NE 3rd Avenue in Delray Beach contains 1,798 square feet on a 0.30-acre lot. Built in 1959, the building has a metal roof, impact windows, a single meter, and an on-site laundry room. City zoning is R-1-A.
The property is in East Delray, minutes from Downtown Delray and Atlantic Avenue, beaches, shops, and dining. New duplexes and triplexes have been built nearby. The seller can deliver the property vacant with 60 days’ written notice if the buyer does not retain the tenants.
The property is in East Delray, minutes from Downtown Delray and Atlantic Avenue, beaches, shops, and dining. New duplexes and triplexes have been built nearby. The seller can deliver the property vacant with 60 days’ written notice if the buyer does not retain the tenants.
Key Highlights
- Three‑unit property with 1,798 square feet on a 0.30‑acre lot
- Metal roof and impact windows
- On‑site laundry room and single meter
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,972
Cap Rate
3.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$599,440
$599.4K
Cap Rate 7%
$428,171
$428.2K
Cap Rate 9%
$333,022
$333.0K
Market Conditions
NOI Build-Up for 1,798 SF
Gross rent
$45.3K $25.20/SF
− Vacancy
−$2.5K −$1.39/SF
EGI
$42.8K $23.81/SF
− OpEx
−$12.8K −$7.14/SF
NOI
$30.0K $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 Rate 5%
$599,440
Cap Rate 7%
$428,171
Cap Rate 9%
$333,022
Alternative Uses
Best Use
Multifamily LT 5
$428.2K
$374.7K – $499.5K
NOI $29,972 @ 7.0% cap · market cap 3.33%
Second Best
Apartment 5plus
$395.0K
$345.7K – $460.9K
NOI $27,652 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,638 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
788
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - The property includes an on-site laundry room and a single meter.
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 $899,000.
What are key features of this property?
This property features: Three‑unit property with 1,798 square feet on a 0.30‑acre lot; Metal roof and impact windows; On‑site laundry room and single meter
