Updated Triplex With RV
For Sale
$850,000
1947 Holman Drive, North Palm Beach, FL 33408
Three connected units offer a compact multifamily configuration in a non-HOA community near the beach.
Property Size1,598 SF
Price / SF$531.91
Days on Market144
Property Features for 1947 Holman Drive
General Information
Standard status
Active
Size
1,598 SF
Property subtype
Triplex
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,065
Amenities
water softener and water purification system
mature fruit trees
additional storage space
Building Details
Building Size
1,598 SF
Year Built
1961
Buildings
1
Listing Agency:
Coldwell Banker/ WPB
Listed By:
Chloe Zambrano · License #3492662
(954) 614-2080
Source:
Pposf
Added: Jun 7
Changed: Oct 25
Last Checked: Oct 26 at 10:37PM
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 Coldwell Banker/ WPB
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Investment Insights
Based on property information with market context.
This 1,598-square-foot triplex contains three connected residential units within a compact multifamily configuration. The property has all-new electrical wiring, along with a recently added water softener and water purification system. Mature fruit trees and supplemental storage suitable for a boat, trailer, or RV add functional value to the site.
The property is located in Juno Ridge near PGA Blvd and the beach. Its non-HOA setting supports flexibility for an income-producing multifamily use or a live-and-rent arrangement, as described for the property.
The property is located in Juno Ridge near PGA Blvd and the beach. Its non-HOA setting supports flexibility for an income-producing multifamily use or a live-and-rent arrangement, as described for the property.
Key Highlights
- 1,598‑square‑foot triplex with three connected units
- All‑new electrical throughout the property
- Recently installed water softener and water purification system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,638
Cap Rate
3.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$532,760
$532.8K
Cap Rate 7%
$380,543
$380.5K
Cap Rate 9%
$295,978
$296.0K
Market Conditions
NOI Build-Up for 1,598 SF
Gross rent
$40.3K $25.20/SF
− Vacancy
−$2.2K −$1.39/SF
EGI
$38.1K $23.81/SF
− OpEx
−$11.4K −$7.14/SF
NOI
$26.6K $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%
$532,760
Cap Rate 7%
$380,543
Cap Rate 9%
$295,978
Alternative Uses
Best Use
Multifamily LT 5
$380.5K
$333.0K – $444.0K
NOI $26,638 @ 7.0% cap · market cap 3.13%
Second Best
Apartment 5plus
$351.1K
$307.2K – $409.6K
NOI $24,576 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$1.13M
$984.7K – $1.31M
NOI $78,778 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,407
Businesses Nearby
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Business Placement
Demographics for 33408, FL
18,965
Population
13,490
Households
1.4
Avg Household Size
58
Median Age
52%
College-Educated
96%
High-School Grad
6.8 sq mi
ZIP Area
2,789
Density / Sq Mi
$91,390
Median Household Income
$65,606
Median Earnings
$1,885
Median Rent
$502,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three connected units offer a compact multifamily configuration in a non-HOA community near the beach.
Where is this triplex located?
The property is located at 1947 Holman Drive North Palm Beach, FL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 1,598‑square‑foot triplex with three connected units; All‑new electrical throughout the property; Recently installed water softener and water purification system
