2840 Avenue S, West Palm Beach, FL 33404
Four fully renovated units with a private parking lot offer a turn-key residential income setup.
- Added:
- Apr 8, 2026
- Days on Market:
- 76
- Last Refresh:
- Jun 20 at 4:51 am
Property Features for 2840 Avenue S
General Information
- Standard status
- Active
- Size
- 3,108 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1965
Listing agent Dwayne Barrett License #FL
Listing office Ibero Property Management
Listing date Apr 8, 2026
Source Crexi
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 Ibero Property Management
HighLights
- Built in 1965 and includes 4 residential units (2‑bed/1‑bath and 3‑bed/2‑bath mixes)
- All 4 units have been renovated
- 2 units are 2 bed/1 bath; 2 units are 3 bed/2 bath
- Private parking lot for residents
Overview
The asset is located in West Palm Beach, near Downtown and the area’s beaches, with the remarks indicating it is minutes from these destinations. The property is also described as being close to redevelopment in the Downtown WPB NORA area, where new shops and nightlife are expected to be nearby.
From an operator or investor perspective, the unit mix provides flexibility across household sizes by pairing smaller 2-bedroom layouts with larger 3-bedroom, 2-bath floorplans. With all units reportedly renovated and on-site private parking available, this configuration may appeal to buyers seeking a residential income property that is ready to be positioned for tenant occupancy with less near-term interior work.
Local 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 | $87.6k | $28.20 |
| − Vacancy | −$4.6k | −$1.47 |
| EGI | $83.1k | $26.73 |
| − OpEx | −$24.9k | −$8.02 |
| NOI | $58.2k | $18.71 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- West Palm Beach
- County
- Palm Beach
- State
- Florida
- Longitude
- -80.0803623
- Latitude
- 26.7859248
