Duplex with New
New
For Sale
$559,000
420 56th St, West Palm Beach, FL 33407
Residential Income, West Palm Beach, FL
Property Size1,598 SF
Price / SF$349.81
Days on Market3
Property Features for 420 56th St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
SF7 (cit
Bedrooms
4
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 4, Bathroom 3, Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 2
Patio and Porch features
Patio, Porch
Exterior features
Fence, Porch, Patio
Fencing
Fenced
Subdivision
NORTH PALM BCH 3
Directions
From I-95, take the 45th Street exit and head east. Turn south toward the Northwood neighborhood and continue to 56th Street. The property is located in the Northwood area, with convenient access to Downtown West Palm Beach, Singer Island, Manatee Lagoon,
Standard status
Active
APN
74434304060450301
Size
1,598 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
NORTH PALM BEACH PL NO 3 E 1/2 OF LT 30 & LTS 31 & 32 BLK 45
Tax Annual Amount
6705
Legal Description
NORTH PALM BEACH PL NO 3 E 1/2 OF LT 30 & LTS 31 & 32 BLK 45
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1950
Floors in Building
1
Flooring type
Tile - Ceramic
Building materials
Block
Listing Agency:
Fortune Christie's International Real Estate
(305) 400-6393
Listed By:
Roberto Hernandez · License #3306682
(407) 963-9307
Added: Nov 3
Changed: Nov 5
Last Checked: Nov 5 at 11:06PM
MLS# A12116511
Copyright © 2026 Miami REALTORS®. 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.
Built in 1950, this block-constructed duplex contains 1,598 square feet across two residences, each configured with two bedrooms and one bathroom. A new roof, ceramic tile flooring, central heating and air conditioning, and a fenced exterior with patio and porch are among the property’s features. Public sewer and cable availability are noted.
The property is in West Palm Beach, with Manatee Lagoon, Singer Island, area beaches, downtown, restaurants, shopping, and entertainment described as minutes away.
The property is in West Palm Beach, with Manatee Lagoon, Singer Island, area beaches, downtown, restaurants, shopping, and entertainment described as minutes away.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- 1,598 square feet total
- New roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,904
Cap Rate
5.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$598,080
$598.1K
Cap Rate 7%
$427,200
$427.2K
Cap Rate 9%
$332,267
$332.3K
Market Conditions
NOI Build-Up for 1,598 SF
Gross rent
$45.1K $28.20/SF
− Vacancy
−$2.3K −$1.47/SF
EGI
$42.7K $26.73/SF
− OpEx
−$12.8K −$8.02/SF
NOI
$29.9K $18.71/SF
Area
West Palm Beach, FL
Vacancy
5.20%
Lease Rate
$28.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$598,080
Cap Rate 7%
$427,200
Cap Rate 9%
$332,267
Alternative Uses
Best Use
Multifamily LT 5
$427.2K
$373.8K – $498.4K
NOI $29,904 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$397.3K
$347.7K – $463.5K
NOI $27,812 @ 7.0% cap · market cap 4.98%
Theoretical Best
Office A
$1.13M
$984.7K – $1.31M
NOI $78,778 @ 7.0% cap · market cap 14.09%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
723
Businesses Nearby
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Business Placement
Demographics for 33407, FL
34,558
Population
15,147
Households
2.3
Avg Household Size
35
Median Age
26%
College-Educated
78%
High-School Grad
9.9 sq mi
ZIP Area
3,491
Density / Sq Mi
$56,606
Median Household Income
$34,886
Median Earnings
$1,551
Median Rent
$290,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence contains two bedrooms and one bathroom, with separate living space in a two-unit property.
Where is this duplex located?
The property is located at 420 56th St West Palm Beach, FL.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 bathroom; 1,598 square feet total; New roof
