Five-Unit Multifamily Apartment
301 S M St Lake Worth, FL 33460
New
301 S M St, Lake Worth, FL, 33460
$1,525,000
For Sale
$1,525,000
Wood-frame apartment building with four two-bedroom units plus one studio, and extensive recent capital improvements.
Property Size3,084 SF
Lot Size0.23 Acres
Price / SF$494.49
Days on Market5
Property Features for 301 S M St
General Information
- Standard status
- Active
- Size
- 3,084 SF
- Lot size
- 0.23 Acres
- Property subtype
- Multifamily
Listing agency
Fort Lauderdale Office
(954) 245-3494
Listed by
River Rhoads · License #License(s): FL: SL3509795
(954) 245-3494
Source
Marcusmillichap
Added: Jul 17 Updated: Jul 21 at 1:38AM Checked: Jul 21 at 2:57AM
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 Fort Lauderdale Office
Investment Insights
Based on property information with market context.
M Street Apartments is a five-unit multifamily property built in 1925, constructed of wood frame with a flat roof. The building includes four two-bedroom, one-bathroom units and one studio unit, providing a mix of larger and efficient floorplans. Recent work includes all new air conditioning systems with manufacturer warranties, completely renovated bathrooms, and plumbing replacement with new PVC and copper piping. The property has also been recently painted.
The asset is located just south of Downtown Lake Worth Beach, offering convenient access to Lake Avenue’s restaurants, breweries, coffee shops, boutiques, and entertainment venues. It is also minutes from the Intracoastal Waterway, Lake Worth Beach Park, and Interstate 95, with nearby employment centers including JFK Medical Center and Palm Beach County government offices.
For ownership, the combination of updated mechanicals and renovated interiors supports a well-maintained boutique multifamily asset with a unit mix designed to accommodate different household needs.
The asset is located just south of Downtown Lake Worth Beach, offering convenient access to Lake Avenue’s restaurants, breweries, coffee shops, boutiques, and entertainment venues. It is also minutes from the Intracoastal Waterway, Lake Worth Beach Park, and Interstate 95, with nearby employment centers including JFK Medical Center and Palm Beach County government offices.
For ownership, the combination of updated mechanicals and renovated interiors supports a well-maintained boutique multifamily asset with a unit mix designed to accommodate different household needs.
Key Highlights
- 5‑unit multifamily property at 301 S M Street in Lake Worth Beach, FL
- Built in 1925; wood‑frame construction with a flat roof; 3,084 gross SF on a 0.23‑acre lot
- Unit mix includes four 2‑bedroom/1‑bath units and one studio unit
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 | $90.3k | $29.28 |
| − Vacancy | −$4.1k | −$1.32 |
| EGI | $86.2k | $27.96 |
| − OpEx | −$38.8k | −$12.58 |
| NOI | $47.4k | $15.38 |
3,084 SF · lease $29.28/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$677.6K
$592.9K – $790.5K
NOI $47,430 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.17M
$1.90M – $2.53M
NOI $152,035 @ 7.0% cap · market cap 9.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Gaydos Painting
Painting Service
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Wood-frame apartment building with four two-bedroom units plus one studio, and extensive recent capital improvements.
Where is this apartment building located?
The property is located at 301 S M St Lake Worth, FL.
What is the asking price?
The asking price for this property is $1,525,000.
What are key features of this property?
This property features: 5‑unit multifamily property at 301 S M Street in Lake Worth Beach, FL; Built in 1925; wood‑frame construction with a flat roof; 3,084 gross SF on a 0.23‑acre lot; Unit mix includes four 2‑bedroom/1‑bath units and one studio unit
