Four-Unit Multifamily
New
For Sale
$399,000
3401 PALM, Punta Gorda, FL 33950
Three residences are occupied, while the fourth unit is vacant.
Property Size1,928 SF
Days on Market2
Property Features for 3401 PALM
General Information
Standard status
Active
Size
1,928 SF
Property subtype
Investment
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,071
Building Details
Building Size
1,928 SF
Year Built
1978
Tenancy
Multi
Listing Agency:
5 Stars Plus Real Estate Services
Listed By:
Chant Karajian · License #3352770
(813) 810-7099
Source:
Elliman
Added: Oct 7
Last Checked: Oct 7 at 2:51PM
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 5 Stars Plus Real Estate Services
Investment Insights
Based on property information with market context.
This multifamily property contains four units, with three currently occupied and one vacant. The building dates to 1978 and is located at 3401 Palm in Punta Gorda, Florida.
The occupancy mix combines existing rental activity with a vacant unit. Walk Score is 8 and Bike Score is 27.
The occupancy mix combines existing rental activity with a vacant unit. Walk Score is 8 and Bike Score is 27.
Key Highlights
- Four‑unit multifamily property
- Three of four units are occupied
- Built in 1978
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,651
Cap Rate
4.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$373,020
$373.0K
Cap Rate 7%
$266,443
$266.4K
Cap Rate 9%
$207,233
$207.2K
Market Conditions
NOI Build-Up for 1,928 SF
Gross rent
$32.9K $17.04/SF
− Vacancy
−$6.2K −$3.22/SF
EGI
$26.6K $13.82/SF
− OpEx
−$8.0K −$4.15/SF
NOI
$18.7K $9.67/SF
Area
Charlotte County, FL
Vacancy
18.90%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$373,020
Cap Rate 7%
$266,443
Cap Rate 9%
$207,233
Alternative Uses
Best Use
Multifamily LT 5
$266.4K
$233.1K – $310.9K
NOI $18,651 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$243.2K
$212.8K – $283.7K
NOI $17,022 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$631.3K
$552.4K – $736.5K
NOI $44,190 @ 7.0% cap · market cap 11.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
267
Businesses Nearby
Explore this area
Business Placement
Demographics for 33950, FL
24,984
Population
16,748
Households
1.5
Avg Household Size
66
Median Age
36%
College-Educated
95%
High-School Grad
17.8 sq mi
ZIP Area
1,404
Density / Sq Mi
$74,484
Median Household Income
$46,032
Median Earnings
$1,192
Median Rent
$393,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Three residences are occupied, while the fourth unit is vacant.
Where is this quadplex located?
The property is located at 3401 PALM Punta Gorda, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Four‑unit multifamily property; Three of four units are occupied; Built in 1978
