5-Unit Apartment
New
For Sale
$1,250,000
431 S M Street, Lake Worth, FL 33460
Residential Income, Lake Worth Beach, FL
Property Size4,074 SF
Lot Size0.23 Acres
Price / SF$306.82
Days on Market5
Property Features for 431 S M Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
SF-R (city)
Bedrooms
8
Full bathrooms
4
Half bathrooms
1
Rooms
Bathroom 4, Bedroom 5, Bathroom 5, Bedroom 3, Bedroom 1, Bedroom 6, Bathroom 2, Bedroom 2, Bedroom 4, Bedroom 8, Bathroom 3, Bedroom 7, Bathroom 1
Window features
Insulated Windows, Storm Window(s), ENERGY STAR Qualified WIndows
Patio and Porch features
Patio, Porch
Pets allowed
Yes
Exterior features
Balcony, Courtyard, Outdoor Shower
Fencing
Fenced
Subdivision
LAKE WORTH TOWN OF
Lot features
Corner Lot, Fruit Tree(s), Irregular Lot, Landscaped, Oversized Lot, Room for Pool
Elementary school
South Grade
Middle school
Lake Worth
High school
Lake Worth
Standard status
Active
APN
38434421151570291
Size
4,074 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
TOWN OF LAKE WORTH W 1/2 OF LTS 29 & 30 & LTS 31 & 32 BLK 157
Tax Annual Amount
16066
Legal Description
TOWN OF LAKE WORTH W 1/2 OF LTS 29 & 30 & LTS 31 & 32 BLK 157
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Window Unit(s), Ceiling Fan(s), Wall/Window Unit(s)
Water source
Public
Amenities
coin laundry
fully fenced yard
Building Details
Year built
1925
Floors in Building
3
Number of units
4
Flooring type
Carpet, Tile, Laminate, Wood
Building materials
Frame
Roof type
Metal, Composition
Additional Structures
Gazebo
Buildings
1
Listing Agency:
Coastline Realty, Inc.
(561) 588-2900
Listed By:
Peter G Muller · License #663261
(561) 254-8925
Added: Oct 22
Changed: Oct 25
Last Checked: Oct 26 at 2:06AM
MLS# B26092508
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.
Built in 1925, this 4,074-square-foot apartment property contains five units: four with two bedrooms and one with a single bedroom. The 0.23-acre site encompasses four lots. Improvements include impact-rated glass windows, tankless water heaters, an updated electrical system, and a full interior renovation of unit 3. Interior painting was completed in 2022. Coin-operated laundry is available on site, and the yard is fenced. Exterior features include porches, a patio, a courtyard, balconies, and an outdoor shower. The property has public water and sewer service and is zoned SF-R by the city.
Key Highlights
- Five apartments: four two‑bedroom units and one one‑bedroom unit
- 4,074‑square‑foot building on a 0.23‑acre site comprising four lots
- Impact‑rated windows, tankless water heaters, and updated electrical system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,655
Cap Rate
5.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,253,100
$1.3M
Cap Rate 7%
$895,071
$895.1K
Cap Rate 9%
$696,167
$696.2K
Market Conditions
NOI Build-Up for 4,074 SF
Gross rent
$119.3K $29.28/SF
− Vacancy
−$5.4K −$1.32/SF
EGI
$113.9K $27.96/SF
− OpEx
−$51.3K −$12.58/SF
NOI
$62.7K $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%
$1,253,100
Cap Rate 7%
$895,071
Cap Rate 9%
$696,167
Alternative Uses
Best Use
Apartment 5plus
$895.1K
$783.2K – $1.04M
NOI $62,655 @ 7.0% cap · market cap 5.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.87M
$2.51M – $3.35M
NOI $200,840 @ 7.0% cap · market cap 16.07%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,543
Businesses Nearby
Explore this area
Business Placement
Demographics for 33460, FL
36,409
Population
14,769
Households
2.5
Avg Household Size
36
Median Age
24%
College-Educated
72%
High-School Grad
4.7 sq mi
ZIP Area
7,747
Density / Sq Mi
$61,702
Median Household Income
$32,388
Median Earnings
$1,411
Median Rent
$333,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Coin-operated laundry, fenced outdoor space, and updated electrical service serve the residential property.
Where is this apartment building located?
The property is located at 431 S M Street Lake Worth, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Five apartments: four two‑bedroom units and one one‑bedroom unit; 4,074‑square‑foot building on a 0.23‑acre site comprising four lots; Impact‑rated windows, tankless water heaters, and updated electrical system
