Renovated Multifamily Property with
For Sale
$1,999,000
1434 Hawthorne Pl, Wellington, FL 33414
Recently renovated multifamily property with garages, close to amenities.
Property Size5,650 SF
Days on Market146
Property Features for 1434 Hawthorne Pl
General Information
Standard status
Active
Size
5,650 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$22,570
Building Details
Building Size
5,650 SF
Year Built
1998
Stories
2
Units
4
Listing Agency:
Destiny International Properties
(561) 758-5212
Listed By:
Marysue Jacobs · License #3318786
(561) 758-5212
Source:
Elliman
Added: Apr 9
Changed: Aug 22
Last Checked: Aug 30 at 10:20PM
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 Destiny International Properties
Investment Insights
Based on property information with market context.
This multifamily property features individual garages for each unit and ample parking. The property was recently renovated and includes a new roof installed in 2024. It is located within walking distance of banks, shopping centers, and restaurants, as well as a high school. Equestrian activities are easily accessible from the property. A community park and playground are located nearby. The property is approximately 15 minutes from a major airport and 25 minutes from the beach. The location is served by good schools. There is no HOA.
Key Highlights
- Recently renovated with new roof in 2024.
- No HOA fees.
- Each unit has its own garage and good parking.
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
$86,893
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
4.35%
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%
$1,737,860
$1.7M
Cap Rate 7%
$1,241,329
$1.2M
Cap Rate 9%
$965,478
$965.5K
Market Conditions
NOI Build-Up for 5,650 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
$165.4K $29.28/SF
− Vacancy
−$7.4K −$1.32/SF
EGI
$158.0K $27.96/SF
− OpEx
−$71.1K −$12.58/SF
NOI
$86.9K $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%
$1,737,860
Cap Rate 7%
$1,241,329
Cap Rate 9%
$965,478
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.09M – $1.45M
NOI $86,893 @ 7.0% cap · market cap 4.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.98M
$3.48M – $4.64M
NOI $278,533 @ 7.0% cap · market cap 13.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
706
Businesses Nearby
Explore this area
Business Placement
Demographics for 33414, FL
59,802
Population
23,111
Households
2.6
Avg Household Size
41
Median Age
45%
College-Educated
94%
High-School Grad
28.3 sq mi
ZIP Area
2,113
Density / Sq Mi
$105,953
Median Household Income
$52,892
Median Earnings
$2,326
Median Rent
$533,800
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 - Recently renovated multifamily property with garages, close to amenities.
Where is this apartment building located?
The property is located at 1434 Hawthorne Pl Wellington, FL.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: Recently renovated with **new roof in 2024.**; No HOA fees.; Each unit has its own garage and good parking.
