Quadplex with Four One-Bedroom
For Sale
$1,100,000
502 N H Street, Lake Worth, FL 33460
MULTI_FAMILY - Lake Worth Beach, FL
Property Size2,420 SF
Lot Size0.16 Acres
Price / SF$454.55
Days on Market113
Property Features for 502 N H Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
MU-DH (city)
Bedrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 1, Bedroom 2, Bathroom 2, Bathroom 1, Bathroom 4, Bathroom 3, Bedroom 3
Window features
Storm Window(s), Blinds
Patio and Porch features
Porch
Pets allowed
Yes, No
Exterior features
Custom Lighting, Garden
Subdivision
LAKE WORTH TOWN OF
Elementary school
North Grade K-8
Middle school
Lake Worth
High school
Lake Worth
Directions
ONE STREET WEST OF DIXIE & 5 BLOCKS NORTH OF LAKE AVENUE
Standard status
Active
APN
38434421151480010
Size
2,420 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
TOWN OF LAKE WORTH LTS 1 & 2 BLK 148
Tax Annual Amount
12353
Legal Description
TOWN OF LAKE WORTH LTS 1 & 2 BLK 148
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
quartz countertops
big chill retro refrigerators
electrolux washer & dryers in each unit
contemporary tile throughout with marble floors in bathrooms
new central a/c units
impact windows and doors
new roof
professionally landscaped with lighting & irrigation
Building Details
Year built
1978
Floors in Building
1
Number of units
4
Flooring type
Wood, Tile, Marble
Building materials
CBS, Concrete Block - With Stucco, Stucco
Roof type
Shingle
Listing Agency:
The Keyes Company
(561) 752-5414
Listed By:
Angela N Williams · License #3108136
(561) 723-0459
Added: Apr 26
Changed: Aug 5
Last Checked: Aug 16 at 9:06AM
MLS# B26020534
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.
Investment Insights
Based on property information with market context.
This fully leased quadplex consists of four one-bedroom, one-bath units designed with modern, high-end finishes. Interior features include quartz countertops, Big Chill retro refrigerators, Electrolux washer & dryers in each unit, and contemporary tile throughout with marble floors in the bathrooms. The property was built in 1978 and includes central heating and central air, with CBS concrete block construction with stucco, and a shingle roof.
Recent upgrades include new central A/C units, impact windows and doors, and a new roof. Tenants pay electric and water through separate meters. Exterior improvements include professionally landscaped grounds with lighting and irrigation, plus a private parking lot with 5 parking spots.
Zoned MU-DH (city), the property is served by public water and public sewer.
Recent upgrades include new central A/C units, impact windows and doors, and a new roof. Tenants pay electric and water through separate meters. Exterior improvements include professionally landscaped grounds with lighting and irrigation, plus a private parking lot with 5 parking spots.
Zoned MU-DH (city), the property is served by public water and public sewer.
Key Highlights
- Four one‑bedroom, one‑bath units, fully leased with tenants paying electric and water via separate meters
- New central A/C units, impact windows and doors, and a new roof
- 0.16 acres with 2,420 SF quadplex building
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
$40,341
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
3.67%
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%
$806,820
$806.8K
Cap Rate 7%
$576,300
$576.3K
Cap Rate 9%
$448,233
$448.2K
Market Conditions
NOI Build-Up for 2,420 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
$61.0K $25.20/SF
− Vacancy
−$3.4K −$1.39/SF
EGI
$57.6K $23.81/SF
− OpEx
−$17.3K −$7.14/SF
NOI
$40.3K $16.67/SF
Area
Palm Beach County, FL
Vacancy
5.50%
Lease Rate
$25.20 /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%
$806,820
Cap Rate 7%
$576,300
Cap Rate 9%
$448,233
Alternative Uses
Best Use
Multifamily LT 5
$576.3K
$504.3K – $672.4K
NOI $40,341 @ 7.0% cap · market cap 3.67%
Second Best
Apartment 5plus
$531.7K
$465.2K – $620.3K
NOI $37,218 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$1.70M
$1.49M – $1.99M
NOI $119,301 @ 7.0% cap · market cap 10.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,994
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased quadplex with separate electric and water meters, impact windows/doors, new central A/C units, and a new roof.
Where is this quadplex located?
The property is located at 502 N H Street Lake Worth, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Four one‑bedroom, one‑bath units, fully leased with tenants paying electric and water via separate meters; New central A/C units, impact windows and doors, and a new roof; 0.16 acres with 2,420 SF quadplex building
