Updated Duplex With Private
New
For Sale
$680,000
4804 Garden Ave, West Palm Beach, FL 33405
MULTI_FAMILY - West Palm Beach, FL
Property Size1,625 SF
Price / SF$418.46
Days on Market1
Property Features for 4804 Garden Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
SF7 (cit
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
Natural Gas, Central
Cooling system
Central Air
Water source
Public
Amenities
private outdoor patio area
designated 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
Last Checked: Aug 11 at 6:06PM
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 at 4804 Garden Ave in West Palm Beach contains two two-bedroom, one-bath residences. The property has undergone updates including fresh paint, contemporary finishes, new appliances, and a new permitted roof installed in 2026. Each residence has its own exterior entrance and private patio, while separate electric and water meters support independent utility service. Block construction, vinyl flooring, central air, natural-gas heating, and high-impact security doors are included.
The fenced property provides parking for 4+ vehicles and includes a designated storage area. Public water and public sewer serve the building, with cable available. Built in 1972, the duplex can accommodate long-term or short-term rental use subject to local regulations, as well as an owner-occupant arrangement with one residence retained for rental use.
The fenced property provides parking for 4+ vehicles and includes a designated storage area. Public water and public sewer serve the building, with cable available. Built in 1972, the duplex can accommodate long-term or short-term rental use subject to local regulations, as well as an owner-occupant arrangement with one residence retained for rental use.
Key Highlights
- 1,625 SF duplex with two 2BR/1BA residences
- New 2026 permitted shingle roof
- Two separate electric meters and two separate water meters
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
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,005
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences feature independent utility metering, outdoor patios, and on-site parking for 4+ vehicles.
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: 1,625 SF duplex with two 2BR/1BA residences; New 2026 permitted shingle roof; Two separate electric meters and two separate water meters
