Four-Unit Residential Income
For Sale
$1,050,000
502 N H Street 1-4, Lake Worth, FL 33460
Quadplex with four one-bedroom, one-bath units, updated exterior and systems, and a private parking lot for five vehicles.
Property Size2,420 SF
Price / SF$433.88
Days on Market118
Property Features for 502 N H Street 1-4
General Information
Standard status
Active
Size
2,420 SF
Total Parking Spaces
5
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
4
Building Details
Year Built
1978
Tenancy
Multi
Listing Agency:
The Keyes Company
Listed By:
Angela N Williams · License #3108136
(561) 723-0459
Source:
Wesellhomes
Added: Jun 12
Changed: Oct 6
Last Checked: Oct 7 at 3:24PM
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 The Keyes Company
Investment Insights
Based on property information with market context.
This quadplex is configured as four separate one-bedroom, one-bath units. The interiors feature modern finishes including quartz countertops, contemporary tile flooring, marble floors in the bathrooms, and retro-style appliances such as Big Chill refrigerators. Each unit is equipped with an Electrolux washer and dryer, and the property includes new central A/C units. Updates also include impact windows and doors, along with a new roof. Electric and water are billed to tenants through separate meters, and the property is described as professionally landscaped with lighting and irrigation. A private parking lot provides five parking spots.
The property is positioned very close to the beach and downtown, with walkability and bikeability scores reported as 67 and 57, respectively. This supports tenants who value access to nearby daily amenities.
With all four units currently leased, the property is presented as turnkey for an owner seeking minimal day-to-day management. Tenants are described as having excellent credit profiles, clean backgrounds, and verified income. The layout and in-unit laundry make the building practical for residents, while the separate utility metering helps keep operating expenses more straightforward.
The property is positioned very close to the beach and downtown, with walkability and bikeability scores reported as 67 and 57, respectively. This supports tenants who value access to nearby daily amenities.
With all four units currently leased, the property is presented as turnkey for an owner seeking minimal day-to-day management. Tenants are described as having excellent credit profiles, clean backgrounds, and verified income. The layout and in-unit laundry make the building practical for residents, while the separate utility metering helps keep operating expenses more straightforward.
Key Highlights
- Quadplex built in 1978 with four 1‑bedroom, 1‑bath units
- Tenants are in place with the property fully leased for immediate occupancy
- Updated interior features include quartz countertops, contemporary tile, and marble floors in bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,341
Cap Rate
3.84%
Suggested Prices Based on Cap Rates
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
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 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 3.84%
Second Best
Apartment 5plus
$531.7K
$465.2K – $620.3K
NOI $37,218 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$1.70M
$1.49M – $1.99M
NOI $119,301 @ 7.0% cap · market cap 11.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,955
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Quadplex with four one-bedroom, one-bath units, updated exterior and systems, and a private parking lot for five vehicles.
Where is this quadplex located?
The property is located at 502 N H Street 1-4 Lake Worth, FL.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Quadplex built in 1978 with four 1‑bedroom, 1‑bath units; Tenants are in place with the property fully leased for immediate occupancy; Updated interior features include quartz countertops, contemporary tile, and marble floors in bathrooms
