West Palm Beach Multifamily
1913 Division Avenue, West Palm Beach, FL 33407
Well-maintained 5-unit property in a desirable West Palm Beach location.
Type:Special Purpose
Property size:
3,504 SFPrice / SF:
$342/SF- Added:
- Feb 27, 2026
- Days on Market:
- 95
- Last Refresh:
- Mar 17 at 1:16 pm
Property Features for 1913 Division Avenue
General Information
- Standard status
- Active
- Size
- 3,504 SF
- Property subtype
- Special Purpose
Building Details
- Year Built
- 1949
Listing agent Dwayne Barrett License #FL
Listing office Ibero Property Management & Real Estate Services
Listing date Feb 27, 2026
Source Crexi
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
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.
- Private parking and shared outdoor area.
- Individual utilities for most units, supporting lower operating costs.
- Brand‑new AC system installed in 2025, and all units will be freshly painted.
Overview
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.
Local Financial Insights For Apartment 5plus
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 | $116.5k | $33.24 |
| − Vacancy | −$5.6k | −$1.60 |
| EGI | $110.9k | $31.64 |
| − OpEx | −$49.9k | −$14.24 |
| NOI | $61.0k | $17.40 |
3,504 SF · lease $33.24/SF/yr · vacancy 4.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$871.2K
$762.3K – $1.02M
NOI $60,985 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.47M
$2.16M – $2.88M
NOI $172,740 @ 7.0% cap · market cap 14.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- West Palm Beach
- County
- Palm Beach
- State
- Florida
- Longitude
- -80.0595781
- Latitude
- 26.7317011
Nearby Similar for Sale
FAQs
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 $1,200,000.
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.
