Two-Unit Duplex
For Sale
Contact for pricing
1602 Meridian Road, West Palm Beach, FL 33417
Duplex with two separate 2-bedroom, 1-bath units, offering straightforward rental income potential for investors.
Property Size1,850 SF
Price / SF$283.73
Days on Market86
Property Features for 1602 Meridian Road
General Information
Standard status
Active
Size
1,850 SF
Property subtype
Multifamily
Additional Details
Multifamily Units
2
Building Details
Year Built
1974
Listing Agency:
CGI Realty
Listed By:
Cynthia Valdez · License #3543253
Source:
Crexi
Added: May 11
Changed: Jul 10
Last Checked: Aug 4 at 8:12AM
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 CGI Realty
Investment Insights
Based on property information with market context.
This for-sale duplex is configured as two separate 2-bedroom, 1-bath units, labeled Unit A and Unit B. The property size is listed as 1,850 square feet. It offers a clear, duplex-style layout designed to support two independent households under one ownership.
The address is 1602 Meridian Road in West Palm Beach, Florida. The offering is presented as a purchase opportunity for buyers seeking a residential income property structured as a duplex.
For investors, the unit-by-unit configuration can simplify management compared with larger multi-tenant buildings, since the property consists of two residential units with matching 2/1 layouts. For owner-occupants, it may also support living in one unit while renting the other. Prospective buyers should verify all details and operating considerations directly for their intended use, including financing and any future tenant requirements.
The address is 1602 Meridian Road in West Palm Beach, Florida. The offering is presented as a purchase opportunity for buyers seeking a residential income property structured as a duplex.
For investors, the unit-by-unit configuration can simplify management compared with larger multi-tenant buildings, since the property consists of two residential units with matching 2/1 layouts. For owner-occupants, it may also support living in one unit while renting the other. Prospective buyers should verify all details and operating considerations directly for their intended use, including financing and any future tenant requirements.
Key Highlights
- Duplex built in 1974
- Two separate units: Unit A is 2 bed / 1 bath
- Two separate units: Unit B is 2 bed / 1 bath
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $52.2k | $28.20 |
| − Vacancy | −$2.7k | −$1.47 |
| EGI | $49.5k | $26.73 |
| − OpEx | −$14.8k | −$8.02 |
| NOI | $34.6k | $18.71 |
1,850 SF · lease $28.20/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$494.6K
$432.8K – $577.0K
NOI $34,620 @ 7.0% cap · market cap 6.60%
Second Best
Apartment 5plus
$460.0K
$402.5K – $536.6K
NOI $32,198 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,201 @ 7.0% cap · market cap 17.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
615
Businesses Nearby
Explore this area
Business Placement
Demographics for 33417, FL
34,153
Population
20,450
Households
1.7
Avg Household Size
48
Median Age
26%
College-Educated
83%
High-School Grad
6.6 sq mi
ZIP Area
5,175
Density / Sq Mi
$50,077
Median Household Income
$35,036
Median Earnings
$1,533
Median Rent
$159,300
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?
Duplex - Duplex with two separate 2-bedroom, 1-bath units, offering straightforward rental income potential for investors.
Where is this duplex located?
The property is located at 1602 Meridian Road West Palm Beach, FL.
What is the asking price?
The asking price for this property is $524,900.
What are key features of this property?
This property features: Duplex built in 1974; Two separate units: Unit A is 2 bed / 1 bath; Two separate units: Unit B is 2 bed / 1 bath
