Four-Unit Apartment
527 48th St West Palm Beach, FL 33407
527 48th St, West Palm Beach, FL, 33407
$760,000
For Sale
$760,000
1954-built concrete block quadplex with one 2BR/1BA unit and three 1BR/1BA units.
Property Size2,387 SF
Lot Size0.14 Acres
Price / SF$318.39
Days on Market110
Property Features for 527 48th St
General Information
- Standard status
- Active
- Size
- 2,387 SF
- Lot size
- 0.14 Acres
- Property subtype
- Multifamily
Listing agency
Fort Lauderdale Office
(954) 245-3494
Listed by
River Rhoads · License #FL: SL3509795
(954) 245-3494
Source
Marcusmillichap
Added: Apr 3 Updated: Jul 21 at 5:06AM Checked: Jul 21 at 5:06AM
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 Fort Lauderdale Office
Investment Insights
Based on property information with market context.
Northwood Villas is a four-unit multifamily property built in 1954 with concrete block construction. The building contains one two-bedroom/one-bathroom unit and three one-bedroom/one-bathroom units, totaling 2,387 square feet. It sits on a 0.14-acre lot.
The property is located at 527 48th St in West Palm Beach, positioned east of Broadway. It is within close proximity to Downtown West Palm Beach, The Square, and the Flagler Financial District. The surrounding area is also described as benefiting from the revitalization of the nearby Currie Mixed-Use District (CMUD), a pedestrian-oriented mixed-use district located between Currie Park to the east and the Northwood business district.
For transportation access, the Brightline West Palm Beach Station at 501 Evernia Street is approximately 3 miles south, providing service to Fort Lauderdale, Miami, and Orlando via high-speed rail.
The property is located at 527 48th St in West Palm Beach, positioned east of Broadway. It is within close proximity to Downtown West Palm Beach, The Square, and the Flagler Financial District. The surrounding area is also described as benefiting from the revitalization of the nearby Currie Mixed-Use District (CMUD), a pedestrian-oriented mixed-use district located between Currie Park to the east and the Northwood business district.
For transportation access, the Brightline West Palm Beach Station at 501 Evernia Street is approximately 3 miles south, providing service to Fort Lauderdale, Miami, and Orlando via high-speed rail.
Key Highlights
- 4‑unit multifamily property (quadplex) at 527 48th St in West Palm Beach, FL
- Built in 1954 with concrete block construction
- Total building size: 2,387 SF on a 0.14‑acre lot
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $67.3k | $28.20 |
| − Vacancy | −$3.5k | −$1.47 |
| EGI | $63.8k | $26.73 |
| − OpEx | −$19.1k | −$8.02 |
| NOI | $44.7k | $18.71 |
2,387 SF · lease $28.20/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$638.1K
$558.4K – $744.5K
NOI $44,669 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$593.5K
$519.3K – $692.4K
NOI $41,544 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,674 @ 7.0% cap · market cap 15.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - 1954-built concrete block quadplex with one 2BR/1BA unit and three 1BR/1BA units.
Where is this quadplex located?
The property is located at 527 48th St West Palm Beach, FL.
What is the asking price?
The asking price for this property is $760,000.
What are key features of this property?
This property features: 4‑unit multifamily property (quadplex) at 527 48th St in West Palm Beach, FL; Built in 1954 with concrete block construction; Total building size: 2,387 SF on a 0.14‑acre lot
