Lake Worth Beach
For Sale
$875,000
1625 South Federal Highway, Lake Worth, FL 33460
Corner-lot fourplex with mixed-use zoning and income potential.
Property Size1,806 SF
Lot Size0.23 Acres
Price / SF$484.50
Days on Market250
Property Features for 1625 South Federal Highway
General Information
Standard status
Active
Size
1,806 SF
Lot size
0.23 Acres
Property subtype
Residential Income / Fourplex
Taxes and HOA fees
Annual Taxes
$13,486
Building Details
Year Built
1950
Listing Agency:
Elite Sales Group
Listed By:
Daniel Echague · License #3280149
(305) 554-1544
Source:
Compass
Added: Feb 20
Changed: Oct 25
Last Checked: Oct 28 at 11:38AM
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 Elite Sales Group
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Investment Insights
Based on property information with market context.
This fourplex is located on a corner lot in Lake Worth Beach and features mixed-use zoning. The property consists of two one-story buildings constructed of solid concrete block. Impact doors are installed, and the rolled roof was replaced in 2006. The property includes three studio units and one 1-bedroom apartment. Each unit has a separate electric meter; water is paid by the owner. One unit is furnished. All units are currently rented. The property is situated on a 9,936 square foot lot with Mixed Use East designation, permitting up to 45’ maximum height and up to 30 units per acre, subject to zoning and City approval. The property is located approximately 5 minutes from the beach and under a mile from Lantana Road, near Palm Beach County Park Airport, Lost City Golf Club, Sports Complex, Publix, Costco, and The Home Depot. It is approximately a 20-minute drive to Palm Beach. The property is suitable for an owner-occupant or investor seeking cash flow.
Key Highlights
- Mixed‑use zoning allows for significant development potential.
- Prime corner lot location in Lake Worth Beach, offering excellent access to amenities.
- Solid concrete block construction with impact doors.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,106
Cap Rate
3.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$602,120
$602.1K
Cap Rate 7%
$430,086
$430.1K
Cap Rate 9%
$334,511
$334.5K
Market Conditions
NOI Build-Up for 1,806 SF
Gross rent
$45.5K $25.20/SF
− Vacancy
−$2.5K −$1.39/SF
EGI
$43.0K $23.81/SF
− OpEx
−$12.9K −$7.14/SF
NOI
$30.1K $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%
$602,120
Cap Rate 7%
$430,086
Cap Rate 9%
$334,511
Alternative Uses
Best Use
Multifamily LT 5
$430.1K
$376.3K – $501.8K
NOI $30,106 @ 7.0% cap · market cap 3.44%
Second Best
Apartment 5plus
$396.8K
$347.2K – $462.9K
NOI $27,775 @ 7.0% cap · market cap 3.17%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $89,032 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
933
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Corner-lot fourplex with mixed-use zoning and income potential.
Where is this quadplex located?
The property is located at 1625 South Federal Highway Lake Worth, FL.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Mixed‑use zoning allows for significant development potential.; Prime corner lot location in Lake Worth Beach, offering excellent access to amenities.; Solid concrete block construction with impact doors.
