10-Unit Two-Building Apartment
New
For Sale
$1,295,000
4211 Parker Ave, West Palm Beach, FL 33405
Central air conditioning serves a mix of studio, one-bedroom, and two-bedroom residences.
Property Size6,628 SF
Lot Size0.25 Acres
Price / SF$195.47
Days on Market2
Property Features for 4211 Parker Ave
General Information
Standard status
Active
Size
6,628 SF
Lot size
0.25 Acres
Property subtype
Multifamily
Occupancy
95%
Site & Location
Neighborhood
Dreher Park Neighborhood Association
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
1 x studio, 8 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
10
Amenities
central air conditioning
10-Unit Multifamily Property Across Two Buildings
Central Air Conditioning Throughout
Diverse Unit Mix Including Studio, 1-Bedroom, And 2-Bedroom Floorplan
Historic 1925 Construction In An Established West Palm Beach Neighborhood
Minutes From The Intracoastal Waterway, Palm Beach Island, And Downtown West Palm Beach
Building Details
Building Size
6,628 SF
Year Built
1925
Buildings
2
Units
10
Listing Agency:
Fort Lauderdale Office
Listed By:
River Rhoads · License #License(s): FL: SL3509795
(954) 245-3494
Source:
Marcusmillichap
Added: Nov 4
Last Checked: Nov 4 at 2:22PM
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 Fort Lauderdale Office
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Investment Insights
Based on property information with market context.
This 10-unit multifamily property comprises two buildings: one with 8 apartments and a separate building with 2. The unit mix includes 1 studio, 8 one-bedroom/one-bathroom units, and 1 two-bedroom/one-bathroom unit. Built in 1925, the buildings contain approximately 6,625 gross square feet on a 0.25-acre lot, with central air conditioning. The stated cap rate is 7.07%.
Key Highlights
- 10 apartments across two buildings, configured as 8 units and 2 units
- Unit mix: 1 studio, 8 one‑bedroom/one‑bathroom units, and 1 two‑bedroom/one‑bathroom unit
- Approximately 6,625 gross square feet on a 0.25‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$115,305
Cap Rate
8.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,306,100
$2.3M
Cap Rate 7%
$1,647,214
$1.6M
Cap Rate 9%
$1,281,167
$1.3M
Market Conditions
NOI Build-Up for 6,625 SF
Gross rent
$220.2K $33.24/SF
− Vacancy
−$10.6K −$1.60/SF
EGI
$209.6K $31.64/SF
− OpEx
−$94.3K −$14.24/SF
NOI
$115.3K $17.40/SF
Area
West Palm Beach, FL
Vacancy
4.80%
Lease Rate
$33.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,306,100
Cap Rate 7%
$1,647,214
Cap Rate 9%
$1,281,167
Alternative Uses
Best Use
Apartment 5plus
$1.65M
$1.44M – $1.92M
NOI $115,305 @ 7.0% cap · market cap 8.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.67M
$4.08M – $5.44M
NOI $326,599 @ 7.0% cap · market cap 25.22%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
10
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,117
Businesses Nearby
Explore this area
Business Placement
Demographics for 33405, FL
19,369
Population
9,557
Households
2
Avg Household Size
41
Median Age
34%
College-Educated
82%
High-School Grad
4.5 sq mi
ZIP Area
4,304
Density / Sq Mi
$82,945
Median Household Income
$46,450
Median Earnings
$1,432
Median Rent
$401,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Central air conditioning serves a mix of studio, one-bedroom, and two-bedroom residences.
Where is this apartment building located?
The property is located at 4211 Parker Ave West Palm Beach, FL.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: 10 apartments across two buildings, configured as 8 units and 2 units; Unit mix: 1 studio, 8 one‑bedroom/one‑bathroom units, and 1 two‑bedroom/one‑bathroom unit; Approximately 6,625 gross square feet on a 0.25‑acre lot
