Single-Story
New
For Sale
$750,000
2405-2407 N East Coast St, Lake Worth, FL 33460
Three-bedroom residence paired with two efficiency apartments in a detached structure supports a varied unit mix.
Property Size1,953 SF
Days on Market3
Property Features for 2405-2407 N East Coast St
General Information
Standard status
Active
Size
1,953 SF
Property subtype
Investment
Units
Unit Mix
1 x 3BR/2BA, 2 x efficiency
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$10,367
Building Details
Building Size
1,953 SF
Year Built
1945
Buildings
2
Stories
1
Units
3
Listing Agency:
United Realty Group Inc
Listed By:
August Ann Gordon · License #3345246
(786) 859-6627
Source:
Elliman
Added: Sep 1
Last Checked: Sep 2 at 6:52PM
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 United Realty Group Inc
Investment Insights
Based on property information with market context.
This single-story triplex combines a three-bedroom, two-bath home with two efficiency apartments housed in a separate building. The arrangement creates three distinct residential units on one property, with the primary residence and smaller units organized across separate structures. The property was built in 1945 and carries a multifamily property use code that may allow additional units to be developed, subject to applicable requirements.
Located at 2405-2407 N East Coast St in Lake Worth, the property is near Historic College Park and south of West Palm. The beach and Intracoastal are described as minutes away. Walk Score is 71, Bike Score is 62, and Transit Score is 34, providing measurable context for pedestrian, bicycle, and transit access.
Located at 2405-2407 N East Coast St in Lake Worth, the property is near Historic College Park and south of West Palm. The beach and Intracoastal are described as minutes away. Walk Score is 71, Bike Score is 62, and Transit Score is 34, providing measurable context for pedestrian, bicycle, and transit access.
Key Highlights
- Three‑unit configuration with a 3‑bedroom, 2‑bath house
- Two efficiency apartments in a separate building
- Single‑story layout across the property
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
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-bedroom residence paired with two efficiency apartments in a detached structure supports a varied unit mix.
Where is this triplex located?
The property is located at 2405-2407 N East Coast St 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: Three‑unit configuration with a 3‑bedroom, 2‑bath house; Two efficiency apartments in a separate building; Single‑story layout across the property
