Two-Residence
New
For Sale
$859,000
3140 NE 5TH Avenue, Boca Raton, FL 33431
Both residences are occupied under month-to-month rental agreements, providing flexibility in future occupancy.
Property Size2,948 SF
Price / SF$380.26
Days on Market2
Property Features for 3140 NE 5TH Avenue
General Information
Standard status
Active
Size
2,948 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
R2 (city)
Occupancy
100%
Additional Details
Gross Income
$55,200
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,986
Building Details
Building Size
2,948 SF
Year Built
1964
Stories
1
Tenancy
Multi
Listing Agency:
BidMax Brokerage
Listed By:
Morgan Saccone
(561) 609-8855
Source:
Laerrealty
Added: Oct 19
Last Checked: Oct 19 at 2:44PM
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 BidMax Brokerage
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Investment Insights
Based on property information with market context.
This 2,259-square-foot duplex in Boca Raton contains two separate residences. Both are currently rented on month-to-month terms. The property was built in 1964 and is zoned R2 by the city. Recent landscaping work adds a new exterior feature.
Shopping, dining, beaches, and major roadways are among the nearby amenities and connections. The property’s two-residence layout and current rental arrangements are key features of the offering.
Shopping, dining, beaches, and major roadways are among the nearby amenities and connections. The property’s two-residence layout and current rental arrangements are key features of the offering.
Key Highlights
- Two separate residences within a 2,259‑square‑foot duplex
- Both units currently rented month‑to‑month
- R2 (city) zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,657
Cap Rate
4.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$753,140
$753.1K
Cap Rate 7%
$537,957
$538.0K
Cap Rate 9%
$418,411
$418.4K
Market Conditions
NOI Build-Up for 2,259 SF
Gross rent
$56.9K $25.20/SF
− Vacancy
−$3.1K −$1.39/SF
EGI
$53.8K $23.81/SF
− OpEx
−$16.1K −$7.14/SF
NOI
$37.7K $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 Rate 5%
$753,140
Cap Rate 7%
$537,957
Cap Rate 9%
$418,411
Alternative Uses
Best Use
Multifamily LT 5
$538.0K
$470.7K – $627.6K
NOI $37,657 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$496.3K
$434.3K – $579.0K
NOI $34,742 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$1.59M
$1.39M – $1.86M
NOI $111,364 @ 7.0% cap · market cap 12.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,171
Businesses Nearby
Explore this area
Business Placement
Demographics for 33431, FL
22,047
Population
9,005
Households
2.4
Avg Household Size
33
Median Age
58%
College-Educated
94%
High-School Grad
8.3 sq mi
ZIP Area
2,656
Density / Sq Mi
$103,252
Median Household Income
$23,794
Median Earnings
$2,361
Median Rent
$575,700
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
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are occupied under month-to-month rental agreements, providing flexibility in future occupancy.
Where is this duplex located?
The property is located at 3140 NE 5TH Avenue Boca Raton, FL.
What is the asking price?
The asking price for this property is $859,000.
What are key features of this property?
This property features: Two separate residences within a 2,259‑square‑foot duplex; Both units currently rented month‑to‑month; R2 (city) zoning
