East Lake Worth Multifamily
For Sale
Contact for pricing
1751-1755 4 Avenue N, Lake Worth, FL 33460
Five-unit multifamily property near East Lake Worth Beach.
Property Size2,800 SF
Lot Size0.75 Acres
Price / SF$383.93
Days on Market738
Property Features for 1751-1755 4 Avenue N
General Information
Standard status
Active
Size
2,800 SF
Lot size
0.75 Acres
Property subtype
Special Purpose
Building Details
Year Built
1958
Units
5
Listing Agency:
CPRE Organization Inc
Listed By:
Traci Hart · License #FL
Source:
Crexi
Added: Oct 20, 2024
Changed: Oct 25
Last Checked: Oct 26 at 4:35PM
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 CPRE Organization Inc
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Investment Insights
Based on property information with market context.
This multifamily property features a single-family home and two duplexes, totaling five units. The single-family home includes two bedrooms and two full bathrooms. One duplex unit offers two bedrooms and two baths, while the other three units each have one bedroom and one bath. The property spans nearly three-quarters of an acre in the East Lake Worth Beach area. With R-20 zoning, additional units are permissible. The property size is 2800 square feet.
Key Highlights
- Five total units provide immediate rental income.
- R‑20 zoning allows for construction of additional units.
- Large lot size of nearly three‑quarters of an acre.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,675
Cap Rate
4.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$933,500
$933.5K
Cap Rate 7%
$666,786
$666.8K
Cap Rate 9%
$518,611
$518.6K
Market Conditions
NOI Build-Up for 2,800 SF
Gross rent
$70.6K $25.20/SF
− Vacancy
−$3.9K −$1.39/SF
EGI
$66.7K $23.81/SF
− OpEx
−$20.0K −$7.14/SF
NOI
$46.7K $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%
$933,500
Cap Rate 7%
$666,786
Cap Rate 9%
$518,611
Alternative Uses
Best Use
Multifamily LT 5
$666.8K
$583.4K – $777.9K
NOI $46,675 @ 7.0% cap · market cap 4.34%
Second Best
Apartment 5plus
$615.2K
$538.3K – $717.7K
NOI $43,062 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$1.97M
$1.73M – $2.30M
NOI $138,034 @ 7.0% cap · market cap 12.84%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,086
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?
Multifamily property - Five-unit multifamily property near East Lake Worth Beach.
Where is this multifamily property located?
The property is located at 1751-1755 4 Avenue N Lake Worth, FL.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: Five total units provide immediate rental income.; R‑20 zoning allows for construction of additional units.; Large lot size of nearly three‑quarters of an acre.
