Two-Story Duplex with Two
For Sale
$719,900
425 NOTTINGHAM Boulevard, West Palm Beach, FL 33405
One residence is vacant, while the other is occupied under a month-to-month lease.
Property Size1,954 SF
Days on Market8
Property Features for 425 NOTTINGHAM Boulevard
General Information
Standard status
Active
Size
1,954 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/2BA, 1 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,837
Amenities
fenced yard
Building Details
Building Size
1,954 SF
Year Built
1981
Buildings
1
Stories
2
Tenancy
Single
Listing Agency:
Group Realty
Listed By:
Mayra Martinez Gelabert · License #3334770
(561) 814-9819
Source:
Meyerlucas
Added: Oct 10
Changed: Oct 13
Last Checked: Oct 16 at 2:32PM
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 Group Realty
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Investment Insights
Based on property information with market context.
This 1,954-square-foot, two-story duplex contains two three-bedroom residences. The first-floor unit has two bathrooms, and the upstairs unit has one. Kitchens and bathrooms have been upgraded, and the property also includes a fenced yard and off-street parking. Built in 1981, the duplex is zoned MF20 by the city.
The first-floor residence is vacant, while the upstairs unit is occupied under a month-to-month lease. The property is south of Southern Boulevard and near Dixie Highway, with access to shopping, dining, downtown West Palm Beach, and major transportation routes.
The first-floor residence is vacant, while the upstairs unit is occupied under a month-to-month lease. The property is south of Southern Boulevard and near Dixie Highway, with access to shopping, dining, downtown West Palm Beach, and major transportation routes.
Key Highlights
- Two three‑bedroom residences in a 1,954‑square‑foot duplex
- First‑floor unit has 3 bedrooms and 2 bathrooms; upstairs unit has 3 bedrooms and 1 bathroom
- One unit is vacant; the other has a month‑to‑month lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,566
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$731,320
$731.3K
Cap Rate 7%
$522,371
$522.4K
Cap Rate 9%
$406,289
$406.3K
Market Conditions
NOI Build-Up for 1,954 SF
Gross rent
$55.1K $28.20/SF
− Vacancy
−$2.9K −$1.47/SF
EGI
$52.2K $26.73/SF
− OpEx
−$15.7K −$8.02/SF
NOI
$36.6K $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%
$731,320
Cap Rate 7%
$522,371
Cap Rate 9%
$406,289
Alternative Uses
Best Use
Multifamily LT 5
$522.4K
$457.1K – $609.4K
NOI $36,566 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$485.8K
$425.1K – $566.8K
NOI $34,008 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$1.38M
$1.20M – $1.61M
NOI $96,328 @ 7.0% cap · market cap 13.38%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,147
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - One residence is vacant, while the other is occupied under a month-to-month lease.
Where is this duplex located?
The property is located at 425 NOTTINGHAM Boulevard West Palm Beach, FL.
What is the asking price?
The asking price for this property is $719,900.
What are key features of this property?
This property features: Two three‑bedroom residences in a 1,954‑square‑foot duplex; First‑floor unit has 3 bedrooms and 2 bathrooms; upstairs unit has 3 bedrooms and 1 bathroom; One unit is vacant; the other has a month‑to‑month lease
