Renovated Triplex With
For Sale
$299,999
2886 Croton Lane, West Palm Beach, FL 33403
Residential Income, West Palm Beach, FL
Property Size1,250 SF
Lot Size0.09 Acres
Price / SF$239
Days on Market248
Property Features for 2886 Croton Lane
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
RH
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 3, Bathroom 2
Window features
Blinds
Pets allowed
Dogs OK, Yes
Exterior features
RV Hookup, Storage
Subdivision
HILLTOP PARK
Standard status
Active
APN
00434217020050080
Size
1,250 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
HILLTOP PARK LOT 8 BLK 5
Tax Annual Amount
2321
Legal Description
HILLTOP PARK LOT 8 BLK 5
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Window Unit(s), Central Air, Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1961
Floors in Building
1
Number of units
3
Flooring type
Vinyl
Roof type
Composition
Additional Structures
Storage
Listing Agency:
LoKation
(954) 545-5583
Listed By:
Lisa B. Levy · License #3240013
(561) 866-8091
Added: Jan 6
Changed: Sep 11
Last Checked: Sep 11 at 7:06AM
MLS# R11151900
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 1,250-square-foot manufactured home is configured as a triplex, with one one-bedroom/one-bath unit and two studio units that each include a bathroom and small kitchen. The property sits on 0.09 acres and was built in 1961. Vinyl flooring, central heating, central air, and additional wall or window cooling systems are included.
The building has undergone renovation, including updated electrical service, water heater, and HVAC equipment. It is tenant occupied with long-term tenants and carries a 12% cap rate. Public water and public sewer serve the property, with RH zoning, cable availability, an RV hookup, and storage. The property is located in West Palm Beach, Florida.
The building has undergone renovation, including updated electrical service, water heater, and HVAC equipment. It is tenant occupied with long-term tenants and carries a 12% cap rate. Public water and public sewer serve the property, with RH zoning, cable availability, an RV hookup, and storage. The property is located in West Palm Beach, Florida.
Key Highlights
- Triplex layout with one 1/1 unit and two studio units
- 1,250‑square‑foot manufactured home on 0.09 acres
- 12% cap rate with long‑term tenant occupancy
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
$23,392
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
7.80%
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%
$467,840
$467.8K
Cap Rate 7%
$334,171
$334.2K
Cap Rate 9%
$259,911
$259.9K
Market Conditions
NOI Build-Up for 1,250 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
$35.3K $28.20/SF
− Vacancy
−$1.8K −$1.47/SF
EGI
$33.4K $26.73/SF
− OpEx
−$10.0K −$8.02/SF
NOI
$23.4K $18.71/SF
Area
West Palm Beach, FL
Vacancy
5.20%
Lease Rate
$28.20 /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%
$467,840
Cap Rate 7%
$334,171
Cap Rate 9%
$259,911
Alternative Uses
Best Use
Multifamily LT 5
$334.2K
$292.4K – $389.9K
NOI $23,392 @ 7.0% cap · market cap 7.80%
Second Best
Apartment 5plus
$310.8K
$272.0K – $362.6K
NOI $21,756 @ 7.0% cap · market cap 7.25%
Theoretical Best
Office A
$880.3K
$770.3K – $1.03M
NOI $61,622 @ 7.0% cap · market cap 20.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,435
Businesses Nearby
Explore this area
Business Placement
Demographics for 33403, FL
13,779
Population
5,906
Households
2.3
Avg Household Size
38
Median Age
26%
College-Educated
86%
High-School Grad
3.3 sq mi
ZIP Area
4,175
Density / Sq Mi
$69,050
Median Household Income
$34,019
Median Earnings
$1,426
Median Rent
$340,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Manufactured residential income property with three distinct living arrangements and updated major systems.
Where is this triplex located?
The property is located at 2886 Croton Lane West Palm Beach, FL.
What is the asking price?
The asking price for this property is $299,999.
What are key features of this property?
This property features: Triplex layout with one 1/1 unit and two studio units; 1,250‑square‑foot manufactured home on 0.09 acres; 12% cap rate with long‑term tenant occupancy
