Three-Unit Residential
For Sale
Under Contract
$750,000
425 CHURCHILL Road, West Palm Beach, FL 33405
Residential Income, West Palm Beach, FL
Property Size2,260 SF
Lot Size0.16 Acres
Price / SF$331.86
Days on Market52
Property Features for 425 CHURCHILL Road
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
SF7 (city)
Bedrooms
3
Full bathrooms
4
Half bathrooms
1
Rooms
Bathroom 5, Bathroom 1, Bedroom 3, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2
Patio and Porch features
Porch, Patio
Pets allowed
No, Yes
Exterior features
Courtyard, Awning(s), Storage
Fencing
Fenced, Gate
Subdivision
COLONIAL ESTATES
Elementary school
South Olive
Middle school
Conniston Community
High school
Forest Hill
Directions
Southern Blvd head east to Dixie Hwy/Parker Ave area ,Churchill Rd is just south of there in the SoSo (South of Southern) neighborhood
Standard status
Active Under Contract
APN
74434404040090180
Size
2,260 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
COLONIAL ESTATES LOTS 18~ 19 & W 16.5 FT OF LOT 20 BLK 9
Tax Annual Amount
1245
Legal Description
COLONIAL ESTATES LOTS 18~ 19 & W 16.5 FT OF LOT 20 BLK 9
Utilities
Sewer type
Public Sewer
Cooling system
Window Unit(s), Wall/Window Unit(s), Central Air
Water source
Public
Building Details
Year built
1960
Floors in Building
1
Number of units
3
Flooring type
Tile, Tile - Ceramic
Building materials
Block, Brick, CBS, Stucco
Roof type
Shingle
Additional Structures
Pergola, Storage
Listing Agency:
KW Reserve Palm Beach · Keller Williams Realty
(561) 966-4000
Listed By:
Loodmy Jacques · License #3222697
(561) 678-5584
Added: Jul 16
Changed: Sep 5
Last Checked: Sep 5 at 9:06PM
MLS# B26053105
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.
Investment Insights
Based on property information with market context.
This triplex comprises two separate buildings on a 0.16-acre lot, with 2,260 square feet of property size. One building contains a two-bedroom, one-and-a-half-bath residence, while the second provides two individual one-bedroom, one-bath units. Each of the smaller units has its own water and electric meter. Exterior features include a courtyard, patio, porch, awnings, storage, fencing, and a gate. The property has public water and public sewer, shingle roofing, and a mix of central and wall/window cooling systems.
Built in 1960, the property is located at 425 Churchill Road in West Palm Beach, Florida 33405. Zoning is SF7 under city regulations. Ceramic tile and tile flooring are present throughout the property, with block, brick, CBS, and stucco listed among the construction materials.
Built in 1960, the property is located at 425 Churchill Road in West Palm Beach, Florida 33405. Zoning is SF7 under city regulations. Ceramic tile and tile flooring are present throughout the property, with block, brick, CBS, and stucco listed among the construction materials.
Key Highlights
- Three‑unit layout across two separate buildings
- 2,260 square feet on a 0.16‑acre lot
- Unit mix includes one 2BR/1.5BA residence and two 1BR/1BA units
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
$42,293
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
5.64%
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%
$845,860
$845.9K
Cap Rate 7%
$604,186
$604.2K
Cap Rate 9%
$469,922
$469.9K
Market Conditions
NOI Build-Up for 2,260 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
$63.7K $28.20/SF
− Vacancy
−$3.3K −$1.47/SF
EGI
$60.4K $26.73/SF
− OpEx
−$18.1K −$8.02/SF
NOI
$42.3K $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 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%
$845,860
Cap Rate 7%
$604,186
Cap Rate 9%
$469,922
Alternative Uses
Best Use
Multifamily LT 5
$604.2K
$528.7K – $704.9K
NOI $42,293 @ 7.0% cap · market cap 5.64%
Second Best
Apartment 5plus
$561.9K
$491.7K – $655.6K
NOI $39,334 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$1.59M
$1.39M – $1.86M
NOI $111,413 @ 7.0% cap · market cap 14.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,036
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
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 - Two-building triplex with separate utility metering for the pair of one-bedroom units.
Where is this triplex located?
The property is located at 425 CHURCHILL Road West Palm Beach, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Three‑unit layout across two separate buildings; 2,260 square feet on a 0.16‑acre lot; Unit mix includes one 2BR/1.5BA residence and two 1BR/1BA units
