Single-Story Triplex
New
For Sale
$750,000
2405-2407 N E Coast Street, Lake Worth, FL 33460
Residential Income, Lake Worth Beach, FL
Property Size1,953 SF
Lot Size0.28 Acres
Price / SF$384.02
Days on Market3
Property Features for 2405-2407 N E Coast Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
SFR-MultiFamily
Bedrooms
5
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 5, Bathroom 1, Bedroom 1, Bathroom 4, Bedroom 4, Bedroom 2
Patio and Porch features
Porch, Patio
Pets allowed
Yes, No
Exterior features
Barbecue, Garden
Fencing
Fenced
Subdivision
Worthmore Park
Lot features
Sidewalks
Elementary school
North Grade K-8
Middle school
Lake Worth
High school
Lake Worth
Standard status
Active
APN
38434416050130010
Size
1,953 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
WORTHMORE PARK LOTS 1 TO 4 INC BLK 13
Tax Annual Amount
10367
Legal Description
WORTHMORE PARK LOTS 1 TO 4 INC BLK 13
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric, Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1945
Floors in Building
1
Number of units
3
Flooring type
Tile, Vinyl, Wood, Laminate
Building materials
Stucco
Roof type
Composition
Listing Agency:
United Realty Group, Inc
(561) 235-2127
Listed By:
August Ann Gordon · License #3345246
(786) 859-6627
Added: Aug 31
Changed: Sep 2
Last Checked: Sep 2 at 1:06PM
MLS# B26070473
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This single-story triplex contains 1,953 square feet on a 0.28-acre lot. The primary residence offers three bedrooms and two bathrooms, while a separate building contains two efficiency units. The property was built in 1945 and includes tile, laminate, wood, and vinyl flooring, along with stucco construction and a composition roof.
The site is fenced and includes a patio, porch, garden, and barbecue area. Public water and public sewer serve the property, with cable available. Located in Lake Worth Beach near Historic College Park, the property is just south of West Palm and minutes from the beach and Intracoastal.
The site is fenced and includes a patio, porch, garden, and barbecue area. Public water and public sewer serve the property, with cable available. Located in Lake Worth Beach near Historic College Park, the property is just south of West Palm and minutes from the beach and Intracoastal.
Key Highlights
- 1,953‑square‑foot triplex on a 0.28‑acre lot
- Three‑bedroom, two‑bath primary residence
- Two efficiency units in a separate building
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$32,556
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.34%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$651,120
$651.1K
Cap Rate 7%
$465,086
$465.1K
Cap Rate 9%
$361,733
$361.7K
Market Conditions
NOI Build-Up for 1,953 SF
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.
Gross rent
$49.2K $25.20/SF
− Vacancy
−$2.7K −$1.39/SF
EGI
$46.5K $23.81/SF
− OpEx
−$14.0K −$7.14/SF
NOI
$32.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$651,120
Cap Rate 7%
$465,086
Cap Rate 9%
$361,733
Alternative Uses
Best Use
Multifamily LT 5
$465.1K
$407.0K – $542.6K
NOI $32,556 @ 7.0% cap · market cap 4.34%
Second Best
Apartment 5plus
$429.1K
$375.5K – $500.6K
NOI $30,036 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$1.38M
$1.20M – $1.60M
NOI $96,279 @ 7.0% cap · market cap 12.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
604
Businesses Nearby
Explore this area
Business Placement
Demographics for 33460, FL
36,409
Population
14,769
Households
2.5
Avg Household Size
36
Median Age
24%
College-Educated
72%
High-School Grad
4.7 sq mi
ZIP Area
7,747
Density / Sq Mi
$61,702
Median Household Income
$32,388
Median Earnings
$1,411
Median Rent
$333,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units include a two-bath house and two efficiencies in a separate building.
Where is this triplex located?
The property is located at 2405-2407 N E Coast Street Lake Worth, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 1,953‑square‑foot triplex on a 0.28‑acre lot; Three‑bedroom, two‑bath primary residence; Two efficiency units in a separate building
