Residential Income
New
For Sale
$1,520,000
414 PINE GLEN, Greenacres, FL
Commercial Sale, Greenacres, FL
Property Size7,607 SF
Price / SF$199.82
Days on Market4
Property Features for 414 PINE GLEN
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM
Parking
10
Subdivision
5730
Standard status
Active
APN
18424427164140032
Size
7,607 SF
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Description
PINE RIDGE SOUTH IV COND BLDG 414 UNIT C-2
Tax Annual Amount
20601
Legal Description
PINE RIDGE SOUTH IV COND BLDG 414 UNIT C-2
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
screened porches
additional storage
in-unit or nearby laundry
Building Details
Year built
1981
Floors in Building
1
Number of units
10
Building materials
CBS
Listing Agency:
Real - ativity
Listed By:
Elizabeth A Lewis · License #3256279
(561) 512-4682
Added: Oct 25
Changed: Oct 28
Last Checked: Oct 28 at 11:06AM
MLS# B26092544
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 10-property residential portfolio comprises 7,607 square feet across 55+ communities in Greenacres and West Palm Beach. The renovated unit mix includes two 2-bedroom/2-bath residences, two 2-bedroom/1-bath residences, one 1-bedroom/2-bath residence, and five 1-bedroom/1-bath residences. Units have screened porches, extra storage, and either in-unit laundry or a separate laundry room within 50 feet. Central heating and air conditioning are reported, along with public water and sewer service.
All residences are leased to established tenants, and the portfolio carries a 6.9% cap rate. The offering is structured as a transfer of one LLC’s membership interests, consolidating the 10 properties into a single transaction without transferring individual deeds. Leasing rights are established with no seasoning period. The communities are described as having no upcoming assessments, and master insurance is included in community dues.
All residences are leased to established tenants, and the portfolio carries a 6.9% cap rate. The offering is structured as a transfer of one LLC’s membership interests, consolidating the 10 properties into a single transaction without transferring individual deeds. Leasing rights are established with no seasoning period. The communities are described as having no upcoming assessments, and master insurance is included in community dues.
Key Highlights
- 10 fully leased properties in 55+ communities in Greenacres and West Palm Beach
- 7,607 square feet across a six‑part unit mix: two 2‑bedroom/2‑bath, two 2‑bedroom/1‑bath, one 1‑bedroom/2‑bath, and five 1‑bedroom/1‑bath residences
- 6.9% cap rate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$116,990
Cap Rate
7.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,339,800
$2.3M
Cap Rate 7%
$1,671,286
$1.7M
Cap Rate 9%
$1,299,889
$1.3M
Market Conditions
NOI Build-Up for 7,607 SF
Gross rent
$222.7K $29.28/SF
− Vacancy
−$10.0K −$1.32/SF
EGI
$212.7K $27.96/SF
− OpEx
−$95.7K −$12.58/SF
NOI
$117.0K $15.38/SF
Area
Palm Beach County, FL
Vacancy
4.50%
Lease Rate
$29.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,339,800
Cap Rate 7%
$1,671,286
Cap Rate 9%
$1,299,889
Alternative Uses
Best Use
Apartment 5plus
$1.67M
$1.46M – $1.95M
NOI $116,990 @ 7.0% cap · market cap 7.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.36M
$4.69M – $6.25M
NOI $375,009 @ 7.0% cap · market cap 24.67%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
10
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
306
Businesses Nearby
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Business Placement
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Frequently Asked Questions
What type of property is this?
Residential income property - Renovated residences are fully leased across 55+ communities in Palm Beach County.
Where is this residential income property located?
The property is located at 414 PINE GLEN Greenacres, FL.
What is the asking price?
The asking price for this property is $1,520,000.
What are key features of this property?
This property features: 10 fully leased properties in 55+ communities in Greenacres and West Palm Beach; 7,607 square feet across a six‑part unit mix: two 2‑bedroom/2‑bath, two 2‑bedroom/1‑bath, one 1‑bedroom/2‑bath, and five 1‑bedroom/1‑bath residences; 6.9% cap rate
