Duplex with Private
New
For Sale
$788,000
315 Northlake Drive #315/317, North Palm Beach, FL 33408
Two separate residences offer fenced outdoor space, central air conditioning, and month-to-month occupancy.
Property Size2,566 SF
Price / SF$378.12
Days on Market5
Property Features for 315 Northlake Drive #315/317
General Information
Standard status
Active
Size
2,566 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
R2 (city)
Occupancy
100%
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/2BA
Multifamily Units
2
Additional Details
Sprinkler System
Yes
Taxes and HOA fees
Annual Taxes
$10,932
Amenities
private laundry
central A/C
tile flooring
large fenced backyards
Building Details
Building Size
2,566 SF
Year Built
1962
Buildings
1
Stories
1
Tenancy
Multi
Listing Agency:
Capital Investments R.E. Corp.
Listed By:
Imran Gunes · License #3276953
(561) 906-5542
Source:
Laerrealty
Added: Oct 5
Changed: Oct 7
Last Checked: Oct 7 at 9:28AM
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.
Investment Insights
Based on property information with market context.
This 2,084-square-foot duplex in North Palm Beach contains two residences: one with 2 bedrooms and 1 bathroom, and another with 3 bedrooms and 2 bathrooms. Both have individual laundry facilities, central air conditioning, tile floors, and fenced backyard areas. Impact-rated glass is installed throughout, with the living room windows excepted. A well and pump supply the sprinkler system. The property is zoned R2 by the city, and both units have month-to-month tenants.
The property is near PGA Boulevard, The Gardens Mall, dining and retail options, and the beach.
The property is near PGA Boulevard, The Gardens Mall, dining and retail options, and the beach.
Key Highlights
- Two units: 2BR/1BA and 3BR/2BA
- 2,084 square feet
- Both residences include private laundry, central A/C, tile floors, and fenced backyards
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.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,479
Businesses Nearby
Explore this area
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer fenced outdoor space, central air conditioning, and month-to-month occupancy.
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: 2BR/1BA and 3BR/2BA; 2,084 square feet; Both residences include private laundry, central A/C, tile floors, and fenced backyards
