Four-Unit Multifamily
201 W Blue Heron Boulevard, Riviera Beach, FL 33404
For Sale
$2,000,000
Four three-bedroom residences are leased month-to-month, with access to major routes east of I-95.
Property Size3,960 SF
Price / SF$505.05
Days on Market329
Property Features for 201 W Blue Heron Boulevard
General Information
Standard status
Size
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Highway Access
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Area Realty Team
Listed By:
George N Fonyam · License FL #3061363
(305) 300-4801
Source:
Fraterrealty
Added: Dec 16, 2025
Changed: Nov 8
Last Checked: Nov 8 at 4:11PM
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 Area Realty Team
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Investment Insights
Based on property information with market context.
This 3,960-square-foot multifamily property contains four units, each configured with three bedrooms and 1.5 bathrooms. Built in 1969, the building is fully rented on month-to-month agreements.
Situated east of I-95 in Riviera Beach, the property offers access to major routes, shopping, and the beach.
Situated east of I-95 in Riviera Beach, the property offers access to major routes, shopping, and the beach.
Key Highlights
- Four units, each with 3 bedrooms and 1.5 bathrooms
- 3,960‑square‑foot building constructed in 1969
- All four units currently leased month‑to‑month
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,511
Cap Rate
3.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,210,220
$1.2M
Cap Rate 7%
$864,443
$864.4K
Cap Rate 9%
$672,344
$672.3K
Market Conditions
NOI Build-Up for 3,960 SF
Gross rent
$116.4K $29.40/SF
− Vacancy
−$6.4K −$1.62/SF
EGI
$110.0K $27.78/SF
− OpEx
−$49.5K −$12.50/SF
NOI
$60.5K $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%
$1,210,220
Cap Rate 7%
$864,443
Cap Rate 9%
$672,344
Alternative Uses
Best Use
Apartment 5plus
$864.4K
$756.4K – $1.01M
NOI $60,511 @ 7.0% cap · market cap 3.03%
Second Best
Multifamily LT 5
$664.2K
$581.2K – $774.9K
NOI $46,492 @ 7.0% cap · market cap 2.32%
Theoretical Best
Office A
$2.79M
$2.44M – $3.25M
NOI $195,220 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
891
Businesses Nearby
Explore this area
Business Placement
Demographics for 33404, FL
31,869
Population
15,990
Households
2
Avg Household Size
42
Median Age
27%
College-Educated
87%
High-School Grad
7.3 sq mi
ZIP Area
4,366
Density / Sq Mi
$60,225
Median Household Income
$35,521
Median Earnings
$1,507
Median Rent
$305,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Quadplexes in Palm Beach County, FL
Properties on Market for Quadplexes in Palm Beach County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four three-bedroom residences are leased month-to-month, with access to major routes east of I-95.
Where is this quadplex located?
The property is located at 201 W Blue Heron Boulevard Riviera Beach, FL.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Four units, each with 3 bedrooms and 1.5 bathrooms; 3,960‑square‑foot building constructed in 1969; All four units currently leased month‑to‑month
