CBS Duplex with Separate
New
For Sale
$595,000
301 S L Street, Lake Worth, FL 33460
Two leased units offer separately metered electric and water.
Property Size2,146 SF
Days on Market7
Property Features for 301 S L Street
General Information
Standard status
Active
Size
2,146 SF
Property subtype
Duplex
Occupancy
100%
Property Condition
Severity
Minor
Evidence
light cosmetic updates
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,633
Amenities
laundry room
Building Details
Building Size
2,146 SF
Year Built
1956
Buildings
1
Construction
CBS
Listing Agency:
49 Units, LLC
(561) 318-3337
Listed By:
Jesse J Bailey · License #3227469
(561) 318-3337
Source:
Meyerlucas
Added: Aug 12
Changed: Aug 17
Last Checked: Aug 15 at 9:45AM
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 49 Units, LLC
Investment Insights
Based on property information with market context.
Built in 1956, this CBS duplex contains two approximately 1,100-square-foot residences, each arranged with two bedrooms, one bathroom, terrazzo flooring, and a laundry room equipped with a washer and dryer. The concrete block structure has impact-rated shutters and a concrete tile roof. Both residences are leased month-to-month and may benefit from light cosmetic updating.
Electric service and water are separately metered for each unit. Parking behind the building accommodates at least four vehicles, while the property is located on a residential street within walking distance of Lake/Lucerne main street in Lake Worth Beach. Inspection reports are available.
Electric service and water are separately metered for each unit. Parking behind the building accommodates at least four vehicles, while the property is located on a residential street within walking distance of Lake/Lucerne main street in Lake Worth Beach. Inspection reports are available.
Key Highlights
- Two units, each approximately 1,100 square feet with a 2BR/1BA layout
- CBS block construction completed in 1956
- Impact‑rated shutters and concrete tile main roof
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
$35,773
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
6.01%
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%
$715,460
$715.5K
Cap Rate 7%
$511,043
$511.0K
Cap Rate 9%
$397,478
$397.5K
Market Conditions
NOI Build-Up for 2,146 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
$54.1K $25.20/SF
− Vacancy
−$3.0K −$1.39/SF
EGI
$51.1K $23.81/SF
− OpEx
−$15.3K −$7.14/SF
NOI
$35.8K $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%
$715,460
Cap Rate 7%
$511,043
Cap Rate 9%
$397,478
Alternative Uses
Best Use
Multifamily LT 5
$511.0K
$447.2K – $596.2K
NOI $35,773 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$471.5K
$412.6K – $550.1K
NOI $33,004 @ 7.0% cap · market cap 5.55%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,793 @ 7.0% cap · market cap 17.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,704
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two leased units offer separately metered electric and water.
Where is this duplex located?
The property is located at 301 S L Street Lake Worth, FL.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Two units, each approximately 1,100 square feet with a 2BR/1BA layout; CBS block construction completed in 1956; Impact‑rated shutters and concrete tile main roof
