Duplex with Private
For Sale
$788,000
315 Northlake Drive 315/317, North Palm Beach, FL 33408
Both residences include central air conditioning, tile floors, and fenced outdoor space.
Property Size2,084 SF
Price / SF$378.12
Days on Market28
Property Features for 315 Northlake Drive 315/317
General Information
Standard status
Active
Size
2,084 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,931
Amenities
private laundry
central A/C
tile flooring
large fenced backyards
Building Details
Building Size
2,084 SF
Year Built
1962
Buildings
1
Tenancy
Multi
Listing Agency:
Capital Investments R.E. Corp.
Listed By:
Imran Gunes · License #3276953
(561) 906-5542
Source:
Pposf
Added: Oct 5
Changed: Oct 31
Last Checked: Oct 30 at 8:31PM
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 Capital Investments R.E. Corp.
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Investment Insights
Based on property information with market context.
This duplex contains two residences: a 2-bedroom, 1-bathroom unit and a 3-bedroom, 2-bathroom unit. Each has its own laundry, central air conditioning, tile flooring, and a fenced backyard. Impact-resistant glass is installed throughout except at the living room windows. A well and pump supply the sprinkler system.
Both units have month-to-month tenants. The property is in North Palm Beach, minutes from PGA Boulevard, The Gardens Mall, restaurants, shopping, and the beach.
Both units have month-to-month tenants. The property is in North Palm Beach, minutes from PGA Boulevard, The Gardens Mall, restaurants, shopping, and the beach.
Key Highlights
- Two units: one 2‑bedroom/1‑bathroom and one 3‑bedroom/2‑bathroom
- Each residence has private laundry, central A/C, tile floors, and a fenced backyard
- Impact glass throughout, except for living room windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,740
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$694,800
$694.8K
Cap Rate 7%
$496,286
$496.3K
Cap Rate 9%
$386,000
$386.0K
Market Conditions
NOI Build-Up for 2,084 SF
Gross rent
$52.5K $25.20/SF
− Vacancy
−$2.9K −$1.39/SF
EGI
$49.6K $23.81/SF
− OpEx
−$14.9K −$7.14/SF
NOI
$34.7K $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%
$694,800
Cap Rate 7%
$496,286
Cap Rate 9%
$386,000
Alternative Uses
Best Use
Multifamily LT 5
$496.3K
$434.3K – $579.0K
NOI $34,740 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$457.9K
$400.6K – $534.2K
NOI $32,051 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$1.47M
$1.28M – $1.71M
NOI $102,737 @ 7.0% cap · market cap 13.04%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,479
Businesses Nearby
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Business Placement
Demographics for 33408, FL
18,965
Population
13,490
Households
1.4
Avg Household Size
58
Median Age
52%
College-Educated
96%
High-School Grad
6.8 sq mi
ZIP Area
2,789
Density / Sq Mi
$91,390
Median Household Income
$65,606
Median Earnings
$1,885
Median Rent
$502,900
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 include central air conditioning, tile floors, and fenced outdoor space.
Where is this duplex located?
The property is located at 315 Northlake Drive 315/317 North Palm Beach, FL.
What is the asking price?
The asking price for this property is $788,000.
What are key features of this property?
This property features: Two units: one 2‑bedroom/1‑bathroom and one 3‑bedroom/2‑bathroom; Each residence has private laundry, central A/C, tile floors, and a fenced backyard; Impact glass throughout, except for living room windows
