Renovated Multifamily
New
For Sale
$1,520,000
2779 EMORY Drive W, West Palm Beach, FL
Business Opportunity, West Palm Beach, FL
Property Size7,602 SF
Price / SF$199.95
Days on Market2
Property Features for 2779 EMORY Drive W
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
5720
Standard status
Active
APN
00424414430010050
Size
7,602 SF
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Description
CRESTHAVEN VILLAS COND NO 32 PAR E BLDG 1
Tax Annual Amount
20601
Legal Description
CRESTHAVEN VILLAS COND NO 32 PAR E BLDG 1
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
screened porches
additional storage
in-unit laundry or free-standing laundry room within 50ft
Building Details
Year built
1981
Floors in Building
1
Building materials
CBS
Roof type
Composition
Listing Agency:
Real - ativity
Listed By:
Elizabeth A Lewis · License #3256279
(561) 512-4682
Added: Oct 25
Last Checked: Oct 26 at 11:06PM
MLS# B26092549
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.
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Investment Insights
Based on property information with market context.
This multifamily portfolio comprises 10 properties totaling 7,602 square feet. The renovated residences include two 2-bedroom/2-bath units, two 2-bedroom/1-bath units, one 1-bedroom/2-bath unit and five 1-bedroom/1-bath units. The properties are villas or two-story condominiums, and each has a screened porch and additional storage. Laundry is provided in-unit or in a separate laundry room within 50 feet. The portfolio has a 6.9% cap rate and is fully leased to established tenants in Palm Beach County 55+ communities.
The properties are in Greenacres and West Palm Beach. The offering transfers membership interests in a single LLC, consolidating the 10 assets into one transaction without individual deed transfers. Leasing rights are established, with no seasoning period required. Master insurance coverage is included in community dues, and no assessments are scheduled.
The properties are in Greenacres and West Palm Beach. The offering transfers membership interests in a single LLC, consolidating the 10 assets into one transaction without individual deed transfers. Leasing rights are established, with no seasoning period required. Master insurance coverage is included in community dues, and no assessments are scheduled.
Key Highlights
- 10 properties in Palm Beach County 55+ communities
- 7,602 square feet across the portfolio
- 6.9% cap rate; fully leased to established tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$132,309
Cap Rate
8.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,646,180
$2.6M
Cap Rate 7%
$1,890,129
$1.9M
Cap Rate 9%
$1,470,100
$1.5M
Market Conditions
NOI Build-Up for 7,602 SF
Gross rent
$252.7K $33.24/SF
− Vacancy
−$12.1K −$1.60/SF
EGI
$240.6K $31.64/SF
− OpEx
−$108.3K −$14.24/SF
NOI
$132.3K $17.40/SF
Area
West Palm Beach, FL
Vacancy
4.80%
Lease Rate
$33.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,646,180
Cap Rate 7%
$1,890,129
Cap Rate 9%
$1,470,100
Alternative Uses
Best Use
Apartment 5plus
$1.89M
$1.65M – $2.21M
NOI $132,309 @ 7.0% cap · market cap 8.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.35M
$4.68M – $6.25M
NOI $374,763 @ 7.0% cap · market cap 24.66%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
10
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
413
Businesses Nearby
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - A fully leased collection of residences in Palm Beach County’s 55+ communities, with established tenants and in-place leasing rights.
Where is this multifamily property located?
The property is located at 2779 EMORY Drive W West Palm Beach, FL.
What is the asking price?
The asking price for this property is $1,520,000.
What are key features of this property?
This property features: 10 properties in Palm Beach County 55+ communities; 7,602 square feet across the portfolio; 6.9% cap rate; fully leased to established tenants
