Renovated 4-Plex with Off-Street
1709 Mercer Avenue West Palm Beach, FL 33401
For Sale
$795,000
Renovated four-unit multifamily property with off-street parking for seven cars and outdoor decks on units 3 and 4.
Property Size2,365 SF
Price / SF$336.15
Days on Market36
Property Features for 1709 Mercer Avenue
General Information
Standard status
Active
Size
2,365 SF
Property subtype
Quadruplex
Building Details
Year Built
1925
Listing Agency:
JD Bols & Associates
(619) 301-6383
Listed By:
John Bols · License #3176578
(619) 301-6383
Source:
Lehmannflorida
Added: Jun 22
Changed: Jul 22
Last Checked: Jul 27 at 5:43AM
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 JD Bols & Associates
Investment Insights
Based on property information with market context.
This nicely renovated 4-plex offers four residential units with updates throughout, including new kitchens, new bathrooms, hard surface flooring, newer appliances, and refreshed lighting and plumbing fixtures. Off-street parking is provided for seven cars. Units 3 and 4 include an outside deck.
Mercer Park is described as a growing community within walking distance of downtown West Palm Beach, and the property is located at 1709 Mercer Avenue in West Palm Beach.
Rents are reported at $72,540 per year, and the renovation scope targets in-unit finishes and fixtures to support day-to-day living and tenant use.
Mercer Park is described as a growing community within walking distance of downtown West Palm Beach, and the property is located at 1709 Mercer Avenue in West Palm Beach.
Rents are reported at $72,540 per year, and the renovation scope targets in-unit finishes and fixtures to support day-to-day living and tenant use.
Key Highlights
- Renovated 4‑plex built in 1925
- Renovation includes new kitchens, new bathrooms, hard surface flooring, newer appliances, and updated lighting/plumbing/fixtures
- Off‑street parking available for 7 cars
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 | $66.7k | $28.20 |
| − Vacancy | −$3.5k | −$1.47 |
| EGI | $63.2k | $26.73 |
| − OpEx | −$19.0k | −$8.02 |
| NOI | $44.3k | $18.71 |
2,365 SF · lease $28.20/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$632.2K
$553.2K – $737.6K
NOI $44,257 @ 7.0% cap · market cap 5.57%
Second Best
Apartment 5plus
$588.0K
$514.5K – $686.0K
NOI $41,162 @ 7.0% cap · market cap 5.18%
Theoretical Best
Office A
$1.67M
$1.46M – $1.94M
NOI $116,590 @ 7.0% cap · market cap 14.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Renovated four-unit multifamily property with off-street parking for seven cars and outdoor decks on units 3 and 4.
Where is this quadplex located?
The property is located at 1709 Mercer Avenue West Palm Beach, FL.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Renovated 4‑plex built in 1925; Renovation includes new kitchens, new bathrooms, hard surface flooring, newer appliances, and updated lighting/plumbing/fixtures; Off‑street parking available for 7 cars
