Fourplex with Four 3-Bed
For Sale
$1,995,000
215 W Blue Heron Boulevard, Riviera Beach, FL 33404
Fully rented fourplex offering four 3-bedroom, 1.5-bath units on month-to-month leases east of I-95.
Property Size3,960 SF
Price / SF$503.79
Days on Market309
Property Features for 215 W Blue Heron Boulevard
General Information
Standard status
Active
Size
3,960 SF
Property subtype
Quadruplex
Occupancy
100%
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$8,339
Building Details
Building Size
3,960 SF
Year Built
1969
Tenancy
Multi
Listing Agency:
Area Realty Team
Listed By:
George N Fonyam · License #3061363
(305) 300-4801
Source:
Pposf
Added: Dec 17, 2025
Changed: Oct 9
Last Checked: Oct 21 at 5:22AM
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 fourplex for sale at 215 W Blue Heron Blvd features four separate 3-bedroom, 1.5-bath units. All units are currently rented on month-to-month terms, providing steady in-place occupancy for an investor looking for cash-flowing residential income.
The property is located east of I-95 and is described as having easy access to major routes. BikeScore is listed as 69 (Bikeable) and walkScore as 67 (Somewhat Walkable), supporting convenient day-to-day mobility for residents.
Each unit is described in the offering as spacious and well laid out, offering a practical foundation for long-term tenancy or future interior improvements.
The property is located east of I-95 and is described as having easy access to major routes. BikeScore is listed as 69 (Bikeable) and walkScore as 67 (Somewhat Walkable), supporting convenient day-to-day mobility for residents.
Each unit is described in the offering as spacious and well laid out, offering a practical foundation for long-term tenancy or future interior improvements.
Key Highlights
- Fully rented fourplex with four 3‑bedroom, 1.5‑bath units
- All units are on month‑to‑month leases
- Year built: 1969
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,012
Cap Rate
3.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,320,240
$1.3M
Cap Rate 7%
$943,029
$943.0K
Cap Rate 9%
$733,467
$733.5K
Market Conditions
NOI Build-Up for 3,960 SF
Gross rent
$99.8K $25.20/SF
− Vacancy
−$5.5K −$1.39/SF
EGI
$94.3K $23.81/SF
− OpEx
−$28.3K −$7.14/SF
NOI
$66.0K $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%
$1,320,240
Cap Rate 7%
$943,029
Cap Rate 9%
$733,467
Alternative Uses
Best Use
Multifamily LT 5
$943.0K
$825.2K – $1.10M
NOI $66,012 @ 7.0% cap · market cap 3.31%
Second Best
Apartment 5plus
$870.0K
$761.3K – $1.02M
NOI $60,902 @ 7.0% cap · market cap 3.05%
Theoretical Best
Office A
$2.79M
$2.44M – $3.25M
NOI $195,220 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Fully rented fourplex offering four 3-bedroom, 1.5-bath units on month-to-month leases east of I-95.
Where is this quadplex located?
The property is located at 215 W Blue Heron Boulevard Riviera Beach, FL.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Fully rented fourplex with four 3‑bedroom, 1.5‑bath units; All units are on month‑to‑month leases; Year built: 1969
