Updated Triplex Income
218 S M St Lake Worth, FL 33460
For Sale
Contact for pricing
Updated triplex offers on-site parking and generates over $6,000 per month in rental income.
Property Size2,184 SF
Price / SF$309.07
Days on Market88
Property Features for 218 S M St
General Information
- Standard status
- Active
- Size
- 2,184 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1926
Listing Agency:
Luxury Brand Real Estate LLC
Listed By:
Jose Garcia · License #3442894
Source:
Crexi
Added: Apr 28
Changed: Jul 22
Last Checked: Jul 23 at 9:43AM
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 Luxury Brand Real Estate LLC
Investment Insights
Based on property information with market context.
This updated triplex income property offers three residential units designed for rental performance, with on-site parking available. The property is positioned in the heart of Lake Worth Beach and reported to generate more than $6,000 per month, with additional opportunity noted for increased rents.
Located within walking distance to Downtown Lake Ave and approximately one mile to the beach, the property is also described as being near Bryant Park, a golf course, and restaurants.
The offering is presented as an income-producing multifamily asset with updated units and strong rental demand, along with on-site parking to support tenant convenience.
Located within walking distance to Downtown Lake Ave and approximately one mile to the beach, the property is also described as being near Bryant Park, a golf course, and restaurants.
The offering is presented as an income-producing multifamily asset with updated units and strong rental demand, along with on-site parking to support tenant convenience.
Key Highlights
- Triplex built in 1926 in the heart of Lake Worth Beach
- Generates over $6,000 per month in rental income
- Updated units with strong rental demand
Financial Insights For Multifamily LT 5
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 | $55.0k | $25.20 |
| − Vacancy | −$3.0k | −$1.39 |
| EGI | $52.0k | $23.81 |
| − OpEx | −$15.6k | −$7.14 |
| NOI | $36.4k | $16.67 |
2,184 SF · lease $25.20/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$520.1K
$455.1K – $606.8K
NOI $36,407 @ 7.0% cap · market cap 5.39%
Second Best
Apartment 5plus
$479.8K
$419.9K – $559.8K
NOI $33,588 @ 7.0% cap · market cap 4.98%
Theoretical Best
Office A
$1.54M
$1.35M – $1.79M
NOI $107,667 @ 7.0% cap · market cap 15.95%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Lake Worth Beach ...
Loan Service
Lake Worth Beach ...
Loan Service
FAQs
What type of property is this?
Triplex - Updated triplex offers on-site parking and generates over $6,000 per month in rental income.
Where is this triplex located?
The property is located at 218 S M St Lake Worth, FL.
What is the asking price?
The asking price for this property is $674,999.
What are key features of this property?
This property features: Triplex built in 1926 in the heart of Lake Worth Beach; Generates over $6,000 per month in rental income; Updated units with strong rental demand
