Multifamily Property with
1975 Palm Acres Drive, Palm Springs, FL 33406
For Sale
New
$794,900
Two living areas, a detached garage and workshop, and zoning for up to seven residential units shape this property's configuration.
Property Size2,685 SF
Lot Size0.70 Acres
Price / SF$296.05
Days on Market6
Property Features for 1975 Palm Acres Drive
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Highway Access
Road Access
Units
Unit Mix
Multifamily Units
RV Sites
Amenities
workshop
Building Details
Year Built
Buildings
Listing Agency:
Property Expo Center Inc.
Listed By:
Edward A Beaudouin PA · License FL #0656513
(561) 929-9359
Source:
Lehmannflorida
Added: Nov 9
Changed: Nov 12
Last Checked: Nov 12 at 2:42PM
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 Property Expo Center Inc.
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Investment Insights
Based on property information with market context.
Set on 0.70 acre, the property includes a 2,685-square-foot, 4-bedroom, 3-bathroom house and an attached 3-bedroom, 1-bathroom in-law suite. A separate seven-car garage/workshop and one RV space provide additional on-site capacity; the RV is not included in the sale. The property is offered as-is, with the right to inspect.
Zoning allows construction or conversion for up to seven residential units. The site is on a dead-end street in Palm Springs, minutes from I-95 and shopping centers. Buyers should verify intended uses and development plans with the city.
Zoning allows construction or conversion for up to seven residential units. The site is on a dead-end street in Palm Springs, minutes from I-95 and shopping centers. Buyers should verify intended uses and development plans with the city.
Key Highlights
- 0.70‑acre property with a 2,685‑square‑foot, 4‑bedroom, 3‑bathroom house
- Attached 3‑bedroom, 1‑bathroom in‑law suite
- Zoning allows construction or conversion for up to 7 residential units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,029
Cap Rate
5.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$820,580
$820.6K
Cap Rate 7%
$586,129
$586.1K
Cap Rate 9%
$455,878
$455.9K
Market Conditions
NOI Build-Up for 2,685 SF
Gross rent
$78.9K $29.40/SF
− Vacancy
−$4.3K −$1.62/SF
EGI
$74.6K $27.78/SF
− OpEx
−$33.6K −$12.50/SF
NOI
$41.0K $15.28/SF
Area
Palm Beach County, FL
Vacancy
5.50%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$820,580
Cap Rate 7%
$586,129
Cap Rate 9%
$455,878
Alternative Uses
Best Use
Apartment 5plus
$586.1K
$512.9K – $683.8K
NOI $41,029 @ 7.0% cap · market cap 5.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.89M
$1.65M – $2.21M
NOI $132,365 @ 7.0% cap · market cap 16.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,358
Businesses Nearby
Explore this area
Business Placement
Demographics for 33406, FL
27,663
Population
9,426
Households
2.9
Avg Household Size
39
Median Age
24%
College-Educated
81%
High-School Grad
8.7 sq mi
ZIP Area
3,180
Density / Sq Mi
$79,696
Median Household Income
$37,453
Median Earnings
$1,677
Median Rent
$358,300
Median Home Value
Market
Average Price Trend$/SF for Multifamily properties in Palm Beach County, FL
Properties on Market for Multifamily properties in Palm Beach County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two living areas, a detached garage and workshop, and zoning for up to seven residential units shape this property's configuration.
Where is this multifamily property located?
The property is located at 1975 Palm Acres Drive Palm Springs, FL.
What is the asking price?
The asking price for this property is $794,900.
What are key features of this property?
This property features: 0.70‑acre property with a 2,685‑square‑foot, 4‑bedroom, 3‑bathroom house; Attached 3‑bedroom, 1‑bathroom in‑law suite; Zoning allows construction or conversion for up to 7 residential units
