Four-Unit Quadplex
For Sale
$650,000
Pending
506 18TH Avenue N, Lake Worth, FL 33460
Residential Income, Lake Worth Beach, FL
Property Size2,338 SF
Lot Size0.13 Acres
Days on Market22
Property Features for 506 18TH Avenue N
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
MU-FH (city)
Bedrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 1
Pets allowed
No, Yes
Subdivision
NORTH LAKE WORTH
Elementary school
North Grade K-8
Middle school
Lake Worth
High school
Lake Worth
Standard status
Pending
APN
38434415160180140
Size
2,338 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
NORTH LAKE WORTH LOT 14 BLK 18
Tax Annual Amount
8028
Legal Description
NORTH LAKE WORTH LOT 14 BLK 18
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1950
Floors in Building
1
Number of units
2
Building materials
CBS
Roof type
Shingle
Listing Agency:
Agent Plus Realty
(954) 605-2954
Listed By:
Silvia S Amorim · License #3021526
(954) 588-6135
Added: Sep 4
Changed: Sep 23
Last Checked: Sep 25 at 7:06AM
MLS# B26072432
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 2,338-square-foot quadplex contains four separate one-bedroom, one-bath units. Constructed in 1950 with CBS materials, the property sits on a 0.13-acre lot and includes shingle roofing, window or wall/window cooling, public water, and public sewer service. Cable is available.
The property is located at 506 18TH Avenue N in Lake Worth Beach, within Palm Beach County. City zoning is MU-FH, supporting its identified multifamily configuration. The four-unit layout provides distinct residential spaces within one income property.
The property is located at 506 18TH Avenue N in Lake Worth Beach, within Palm Beach County. City zoning is MU-FH, supporting its identified multifamily configuration. The four-unit layout provides distinct residential spaces within one income property.
Key Highlights
- Four separate 1‑bedroom, 1‑bathroom units
- 2,338 square feet on a 0.13‑acre lot
- MU‑FH (city) zoning
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
6.00%
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 6.00%
Second Best
Apartment 5plus
$513.7K
$449.5K – $599.3K
NOI $35,957 @ 7.0% cap · market cap 5.53%
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,259 @ 7.0% cap · market cap 17.73%
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
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Four one-bedroom, one-bath residences offer a compact multifamily configuration in Lake Worth Beach.
Where is this quadplex located?
The property is located at 506 18TH Avenue N Lake Worth, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Four separate 1‑bedroom, 1‑bathroom units; 2,338 square feet on a 0.13‑acre lot; MU‑FH (city) zoning
