5-Unit Apartment
431 S M Street #1-5, Lake Worth, FL 33460
For Sale
$1,250,000
A five-residence property with a mix of one- and two-bedroom layouts and coin-operated laundry.
Property Size4,564 SF
Price / SF$306.82
Days on Market13
Property Features for 431 S M Street #1-5
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Net Operating Income
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
coin laundry
fully fenced yard
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
Coastline Realty, Inc.
Listed By:
Peter G Muller · License #663261
(561) 254-8925
Source:
Laerrealty
Added: Oct 26
Changed: Nov 6
Last Checked: Nov 6 at 5:52AM
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 Coastline Realty, Inc.
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Investment Insights
Based on property information with market context.
This 4,074-square-foot apartment property contains five units: four with two bedrooms and one with a single bedroom. Improvements include impact-rated glass windows, a customized roof, tankless water heaters, and an updated electrical system. Unit 3 has been fully remodeled, and interior painting was completed in 2022. Coin-operated laundry is on site, along with a fenced yard, landscaped grounds, and oak trees.
The property occupies four lots at 431 S M Street in Lake Worth Beach. City zoning is SF-R. The building dates to 1925.
The property occupies four lots at 431 S M Street in Lake Worth Beach. City zoning is SF-R. The building dates to 1925.
Key Highlights
- Five units: four two‑bedroom apartments and one one‑bedroom apartment
- 4,074 square feet across four lots
- Impact glass windows, customized roof, 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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Property Analytics
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,543
Businesses Nearby
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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
$333,200
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Palm Beach County, FL
Properties on Market for Apartment buildings in Palm Beach County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - A five-residence property with a mix of one- and two-bedroom layouts and coin-operated laundry.
Where is this apartment building located?
The property is located at 431 S M Street #1-5 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 units: four two‑bedroom apartments and one one‑bedroom apartment; 4,074 square feet across four lots; Impact glass windows, customized roof, tankless water heaters, and updated electrical system
