2886 Croton Lane West Palm Beach, FL 33403
Owner-land income setup with a 1-bedroom and two studio units, all tenant-occupied with updated major systems.
Property Features for 2886 Croton Lane
General Information
- Standard status
- Active
- Size
- 1,250 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1961
Listing office LoKation
Listing date Jan 11, 2026
Source Crexi
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Investment Insights
Based on property information with market context.
Access and use are straightforward given the single-structure setup and on-site land ownership. The listing is presented as a residential income offering, with existing in-place tenants rather than a vacant redevelopment scenario.
For buyers seeking an owner-land residence with attached rental income, this configuration provides multiple unit types within one renovated manufactured home. The seller notes a tenant-occupied long-term status and references a 12% cap rate. Seller financing is available for the right buyer, with $60,000 down and $2,500 per month, subject to buyer qualifications.
Key Highlights
- Completely renovated manufactured home (built 1961) with owner‑land setup (you own the land)
- Rental layout includes 1‑bedroom unit plus two studio units, each with bath and small kitchen
- All units are tenant‑occupied long term
Local Financial Insights For Apartment 5plus
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 | $41.6k | $33.24 |
| − Vacancy | −$2.0k | −$1.60 |
| EGI | $39.6k | $31.64 |
| − OpEx | −$17.8k | −$14.24 |
| NOI | $21.8k | $17.40 |
