West Palm Beach Multifamily
1913 Division Avenue, West Palm Beach, FL 33407
For Sale
$900,000
Well-maintained 5-unit property in a desirable West Palm Beach location.
Property Size3,504 SF
Price / SF$256.85
Days on Market260
Property Features for 1913 Division Avenue
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Ibero Property Management & Real Estate Services
Listed By:
Dwayne Prince Barrett · License FL #3318467
(561) 420-0640
Source:
Meyerlucas
Added: Feb 26
Changed: Nov 4
Last Checked: Nov 10 at 5:21PM
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 Ibero Property Management & Real Estate Services
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Investment Insights
Based on property information with market context.
This well-maintained 5-unit multifamily property presents a strong investment opportunity within the rapidly growing West Palm Beach market. Situated in a desirable residential neighborhood, the building is located minutes from downtown, major employment centers, beaches, and transit options. The property comprises a mix of spacious two- and three-bedroom units, each featuring functional layouts and a steady rental history. Several units have been updated, and the building has been professionally managed. On-site amenities include private parking and a shared outdoor area. Individual utilities for most units contribute to lower operating costs. The units will have a brand-new AC system installed in 2025, and all units will be freshly painted. The property size is 3504 square feet.
Key Highlights
- Strong investment opportunity in rapidly growing West Palm Beach market.
- Located minutes from downtown, major employment centers, beaches, and transit.
- Mix of spacious 2- and 3‑bedroom units with functional layouts and steady rental history.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,985
Cap Rate
6.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,219,700
$1.2M
Cap Rate 7%
$871,214
$871.2K
Cap Rate 9%
$677,611
$677.6K
Market Conditions
NOI Build-Up for 3,504 SF
Gross rent
$116.5K $33.24/SF
− Vacancy
−$5.6K −$1.60/SF
EGI
$110.9K $31.64/SF
− OpEx
−$49.9K −$14.24/SF
NOI
$61.0K $17.40/SF
Area
West Palm Beach, FL
Vacancy
4.80%
Lease Rate
$33.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,219,700
Cap Rate 7%
$871,214
Cap Rate 9%
$677,611
Alternative Uses
Best Use
Apartment 5plus
$871.2K
$762.3K – $1.02M
NOI $60,985 @ 7.0% cap · market cap 6.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.47M
$2.16M – $2.88M
NOI $172,740 @ 7.0% cap · market cap 19.19%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,956
Businesses Nearby
Explore this area
Business Placement
Demographics for 33407, FL
34,558
Population
15,147
Households
2.3
Avg Household Size
35
Median Age
26%
College-Educated
78%
High-School Grad
9.9 sq mi
ZIP Area
3,491
Density / Sq Mi
$56,606
Median Household Income
$34,886
Median Earnings
$1,551
Median Rent
$290,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in West Palm Beach, FL
Properties on Market for Apartment buildings in West Palm Beach
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 5-unit property in a desirable West Palm Beach location.
Where is this apartment building located?
The property is located at 1913 Division Avenue West Palm Beach, FL.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Strong investment opportunity in rapidly growing West Palm Beach market.; Located minutes from downtown, major employment centers, beaches, and transit.; Mix of spacious 2- and 3‑bedroom units with functional layouts and steady rental history.
