3-Unit
New
For Sale
$650,000
516 20TH Street #A, West Palm Beach, FL 33407
Separate electric and water meters serve each residence, alongside a shared yard.
Property Size2,760 SF
Price / SF$257.94
Days on Market2
Property Features for 516 20TH Street #A
General Information
Standard status
Active
Size
2,760 SF
Total Parking Spaces
5
Property subtype
Residential Income
Zoning
MF14 (city)
Units
Unit Mix
1 x 3BR/2BA, 2 x 2BR/1BA
Multifamily Units
3
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$8,822
Amenities
shared yard area
Building Details
Building Size
2,760 SF
Year Built
1961
Stories
2
Listing Agency:
E-Realty Services Corp.
Listed By:
Albert J Elias · License #552885
(954) 850-6674
Source:
Laerrealty
Added: Oct 7
Last Checked: Oct 7 at 2:36PM
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 E-Realty Services Corp.
Investment Insights
Based on property information with market context.
This 2,520-square-foot triplex contains three residences: an upstairs unit with 3 bedrooms and 2 bathrooms, plus two downstairs units with 2 bedrooms and 1 bathroom each. Each unit has its own electric and water meter, and residents share a large yard. The building dates to 1961.
The property is zoned MF14 by the city. Shops and development are noted in the surrounding area.
The property is zoned MF14 by the city. Shops and development are noted in the surrounding area.
Key Highlights
- Three units: one 3‑bedroom, 2‑bath residence and two 2‑bedroom, 1‑bath residences
- Separate electric and water meters for each unit
- 2,520 square feet; built in 1961
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,158
Cap Rate
7.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$943,160
$943.2K
Cap Rate 7%
$673,686
$673.7K
Cap Rate 9%
$523,978
$524.0K
Market Conditions
NOI Build-Up for 2,520 SF
Gross rent
$71.1K $28.20/SF
− Vacancy
−$3.7K −$1.47/SF
EGI
$67.4K $26.73/SF
− OpEx
−$20.2K −$8.02/SF
NOI
$47.2K $18.71/SF
Area
West Palm Beach, FL
Vacancy
5.20%
Lease Rate
$28.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$943,160
Cap Rate 7%
$673,686
Cap Rate 9%
$523,978
Alternative Uses
Best Use
Multifamily LT 5
$673.7K
$589.5K – $786.0K
NOI $47,158 @ 7.0% cap · market cap 7.26%
Second Best
Apartment 5plus
$626.6K
$548.2K – $731.0K
NOI $43,859 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$1.77M
$1.55M – $2.07M
NOI $124,231 @ 7.0% cap · market cap 19.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,751
Businesses Nearby
Explore this area
Business Placement
Demographics for 33407, FL
34,558
Population
15,147
Households
2.3
Avg Household Size
35
Median Age
26%
College-Educated
78%
High-School Grad
9.9 sq mi
ZIP Area
3,491
Density / Sq Mi
$56,606
Median Household Income
$34,886
Median Earnings
$1,551
Median Rent
$290,500
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 - Separate electric and water meters serve each residence, alongside a shared yard.
Where is this triplex located?
The property is located at 516 20TH Street #A West Palm Beach, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Three units: one 3‑bedroom, 2‑bath residence and two 2‑bedroom, 1‑bath residences; Separate electric and water meters for each unit; 2,520 square feet; built in 1961
