Updated Duplex with Private
For Sale
$680,000
4804 Garden Ave, West Palm Beach, FL 33405
Residential Income, West Palm Beach, FL
Property Size1,625 SF
Price / SF$418.46
Days on Market47
Property Features for 4804 Garden Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
SF7 (cit
Bedrooms
4
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bathroom 1
Parking
2
Security features
Security
Patio and Porch features
Patio
Exterior features
Fence, Patio, Security/High Impact Doors
Fencing
Fenced
Subdivision
GARDENS THE
Lot features
< 1/4 Acre
Standard status
Active
APN
74434404060000370
Size
1,625 SF
Taxes and HOA fees
Tax Year
2026
Tax Description
THE GARDENS LTS 37 & 38
Tax Annual Amount
6215
Legal Description
THE GARDENS LTS 37 & 38
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
private patio
storage area
Building Details
Year built
1972
Floors in Building
1
Flooring type
Vinyl
Building materials
Block
Roof type
Shingle
Listing Agency:
Realty One Group Evolution
(786) 477-4715
Listed By:
Luisa Agudelo · License #3391351
(954) 305-8758
Added: Aug 11
Changed: Sep 14
Last Checked: Sep 26 at 2:06PM
MLS# A12068825
Copyright © 2026 Miami REALTORS®. 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 1,625-square-foot duplex contains two 2BR/1BA units, each with its own exterior entrance and patio area. Improvements include a permitted roof installed in 2026, refreshed interior paint, contemporary finishes, and new appliances. Separate electric and water meters serve the units independently. The property also provides private parking for 4+ vehicles, a designated storage area, block construction, vinyl flooring, central air, and natural-gas heating.
Located at 4804 Garden Ave in West Palm Beach, the property has public water and sewer service, fencing, shingle roofing, and high-impact security doors. Its two-unit layout supports both owner occupancy and rental use, subject to applicable local regulations.
Located at 4804 Garden Ave in West Palm Beach, the property has public water and sewer service, fencing, shingle roofing, and high-impact security doors. Its two-unit layout supports both owner occupancy and rental use, subject to applicable local regulations.
Key Highlights
- Two 2BR/1BA units within a 1,625‑square‑foot duplex
- Permitted roof installed in 2026
- Separate electric and water meters for each unit
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
$30,409
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
4.47%
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%
$608,180
$608.2K
Cap Rate 7%
$434,414
$434.4K
Cap Rate 9%
$337,878
$337.9K
Market Conditions
NOI Build-Up for 1,625 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
$45.8K $28.20/SF
− Vacancy
−$2.4K −$1.47/SF
EGI
$43.4K $26.73/SF
− OpEx
−$13.0K −$8.02/SF
NOI
$30.4K $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%
$608,180
Cap Rate 7%
$434,414
Cap Rate 9%
$337,878
Alternative Uses
Best Use
Multifamily LT 5
$434.4K
$380.1K – $506.8K
NOI $30,409 @ 7.0% cap · market cap 4.47%
Second Best
Apartment 5plus
$404.0K
$353.5K – $471.4K
NOI $28,282 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$1.14M
$1.00M – $1.34M
NOI $80,109 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,164
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately metered units include exterior access, dedicated outdoor space, and independent utility service.
Where is this duplex located?
The property is located at 4804 Garden Ave West Palm Beach, FL.
What is the asking price?
The asking price for this property is $680,000.
What are key features of this property?
This property features: Two 2BR/1BA units within a 1,625‑square‑foot duplex; Permitted roof installed in 2026; Separate electric and water meters for each unit
