Renovated
For Sale
$750,000
4381 Purdy Lane, West Palm Beach, FL 33406
Three separate unit layouts feature updated kitchens and bathrooms, with all units currently rented.
Property Size2,904 SF
Price / SF$258.26
Days on Market252
Property Features for 4381 Purdy Lane
General Information
Standard status
Active
Size
2,904 SF
Property subtype
Triplex
Additional Details
Multifamily Units
3
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$5,480
Building Details
Building Size
2,904 SF
Year Built
1963
Listing Agency:
Florida Brokers Real Estate
Listed By:
Guillermo D Gori · License #3329430
(954) 305-2618
Source:
Conciergeproperties
Added: Feb 17
Changed: Oct 26
Last Checked: Oct 26 at 1:27PM
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 Florida Brokers Real Estate
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Investment Insights
Based on property information with market context.
This 2,904-square-foot triplex contains three units with separate layouts. The kitchens and bathrooms have been updated, and all three units are currently rented. The property was built in 1963 and has no HOA.
Key Highlights
- Three units, all currently rented
- 2,904 square feet across three separate layouts
- Updated kitchens and bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,344
Cap Rate
7.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,086,880
$1.1M
Cap Rate 7%
$776,343
$776.3K
Cap Rate 9%
$603,822
$603.8K
Market Conditions
NOI Build-Up for 2,904 SF
Gross rent
$81.9K $28.20/SF
− Vacancy
−$4.3K −$1.47/SF
EGI
$77.6K $26.73/SF
− OpEx
−$23.3K −$8.02/SF
NOI
$54.3K $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 Rate 5%
$1,086,880
Cap Rate 7%
$776,343
Cap Rate 9%
$603,822
Alternative Uses
Best Use
Multifamily LT 5
$776.3K
$679.3K – $905.7K
NOI $54,344 @ 7.0% cap · market cap 7.25%
Second Best
Apartment 5plus
$722.0K
$631.8K – $842.4K
NOI $50,543 @ 7.0% cap · market cap 6.74%
Theoretical Best
Office A
$2.05M
$1.79M – $2.39M
NOI $143,161 @ 7.0% cap · market cap 19.09%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,018
Businesses Nearby
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Business Placement
Demographics for 33406, FL
27,663
Population
9,426
Households
2.9
Avg Household Size
39
Median Age
24%
College-Educated
81%
High-School Grad
8.7 sq mi
ZIP Area
3,180
Density / Sq Mi
$79,696
Median Household Income
$37,453
Median Earnings
$1,677
Median Rent
$358,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three separate unit layouts feature updated kitchens and bathrooms, with all units currently rented.
Where is this triplex located?
The property is located at 4381 Purdy Lane 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 units, all currently rented; 2,904 square feet across three separate layouts; Updated kitchens and bathrooms
