Renovated Triplex with New
For Sale
$810,000
3382 Rudolf Rd, Lake Worth, FL
Legal multifamily property with updated interiors, separate electric metering, and fenced-site parking for residents.
Property Size2,520 SF
Price / SF$321.43
Days on Market54
Property Features for 3382 Rudolf Rd
General Information
Standard status
Active
Size
2,520 SF
Property subtype
Residential Income
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,644
Building Details
Buildings
1
Listing Agency:
Bassie Signature Properties, LLC
(561) 441-9198
Listed By:
Helen Bassie
(561) 441-9198
Source:
Exprealty
Added: Jun 24
Changed: Aug 16
Last Checked: Aug 16 at 3:25AM
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 Bassie Signature Properties, LLC
Investment Insights
Based on property information with market context.
This legal triplex contains three 2-bedroom, 1-bath units within a 2,520-square-foot multifamily property. The building has undergone substantial renovation, including a new roof and impact-rated windows and doors. Each residence includes updated interior finishes, while three separate electric meters support individual unit utility management.
The property occupies a fully fenced lot with dedicated open parking and is located near downtown Lake Worth, area beaches, and I-95. Its three-unit configuration and completed physical improvements provide a defined multifamily layout for an owner-user or rental property operator.
The property occupies a fully fenced lot with dedicated open parking and is located near downtown Lake Worth, area beaches, and I-95. Its three-unit configuration and completed physical improvements provide a defined multifamily layout for an owner-user or rental property operator.
Key Highlights
- Three 2‑bedroom, 1‑bath units in a legal triplex
- 2,520‑square‑foot multifamily property
- New roof and impact windows and doors
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
$42,008
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
5.19%
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%
$840,160
$840.2K
Cap Rate 7%
$600,114
$600.1K
Cap Rate 9%
$466,756
$466.8K
Market Conditions
NOI Build-Up for 2,520 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
$63.5K $25.20/SF
− Vacancy
−$3.5K −$1.39/SF
EGI
$60.0K $23.81/SF
− OpEx
−$18.0K −$7.14/SF
NOI
$42.0K $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%
$840,160
Cap Rate 7%
$600,114
Cap Rate 9%
$466,756
Alternative Uses
Best Use
Multifamily LT 5
$600.1K
$525.1K – $700.1K
NOI $42,008 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$553.7K
$484.5K – $645.9K
NOI $38,756 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$1.77M
$1.55M – $2.07M
NOI $124,231 @ 7.0% cap · market cap 15.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,462
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Legal multifamily property with updated interiors, separate electric metering, and fenced-site parking for residents.
Where is this triplex located?
The property is located at 3382 Rudolf Rd Lake Worth, FL.
What is the asking price?
The asking price for this property is $810,000.
What are key features of this property?
This property features: Three 2‑bedroom, 1‑bath units in a legal triplex; 2,520‑square‑foot multifamily property; New roof and impact windows and doors
