Four-Unit
New
For Sale
$700,000
506 18TH Ave N, Lake Worth, FL 33460
Multifamily property in an established residential neighborhood with car-dependent access and some transit service.
Property Size2,338 SF
Days on Market4
Property Features for 506 18TH Ave N
General Information
Standard status
Active
Size
2,338 SF
Property subtype
Investment
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,028
Building Details
Building Size
2,338 SF
Year Built
1950
Stories
1
Units
2
Listing Agency:
Agent Plus Realty
Listed By:
Silvia S Amorim · License #3021526
(954) 588-6135
Source:
Elliman
Added: Sep 5
Last Checked: Sep 7 at 8:37AM
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 Agent Plus Realty
Investment Insights
Based on property information with market context.
Built in 1950, this quadplex contains four separate residential units, each arranged as a one-bedroom, one-bathroom residence. The four-unit configuration offers a defined multifamily layout within an established residential setting.
The property is located at 506 18TH Ave N in Lake Worth, Florida. Walk Score is 13, classified as Car-Dependent; Transit Score is 31, indicating Some Transit; and Bike Score is 34, classified as Somewhat Bikeable.
The property is located at 506 18TH Ave N in Lake Worth, Florida. Walk Score is 13, classified as Car-Dependent; Transit Score is 31, indicating Some Transit; and Bike Score is 34, classified as Somewhat Bikeable.
Key Highlights
- Four separate 1‑bedroom, 1‑bathroom units
- Built in 1950
- Located at 506 18TH Ave N, Lake Worth, FL 33460
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
$38,974
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
5.57%
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%
$779,480
$779.5K
Cap Rate 7%
$556,771
$556.8K
Cap Rate 9%
$433,044
$433.0K
Market Conditions
NOI Build-Up for 2,338 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
$58.9K $25.20/SF
− Vacancy
−$3.2K −$1.39/SF
EGI
$55.7K $23.81/SF
− OpEx
−$16.7K −$7.14/SF
NOI
$39.0K $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%
$779,480
Cap Rate 7%
$556,771
Cap Rate 9%
$433,044
Alternative Uses
Best Use
Multifamily LT 5
$556.8K
$487.2K – $649.6K
NOI $38,974 @ 7.0% cap · market cap 5.57%
Second Best
Apartment 5plus
$513.7K
$449.5K – $599.3K
NOI $35,957 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,259 @ 7.0% cap · market cap 16.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
601
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 - Multifamily property in an established residential neighborhood with car-dependent access and some transit service.
Where is this quadplex located?
The property is located at 506 18TH Ave N Lake Worth, FL.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Four separate 1‑bedroom, 1‑bathroom units; Built in 1950; Located at 506 18TH Ave N, Lake Worth, FL 33460
