13-Unit Apartment
New
For Sale
$3,480,000
5289 Stacy St, West Palm Beach, FL 33417
Seven low-rise buildings offer three-bedroom layouts with separately metered utilities.
Property Size14,500 SF
Lot Size1.74 Acres
Days on Market5
Property Features for 5289 Stacy St
General Information
Standard status
Active
Size
14,500 SF
Total Parking Spaces
34
Lot size
1.74 Acres
Property subtype
Multifamily
Occupancy
100%
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
13 x 3BR/2BA
Multifamily Units
13
Amenities
stainless steel appliances
dishwasher
built-in microwave
European cabinetry
quartz countertops
recessed lighting
ceiling fans
central air conditioning
walk-in closets
vinyl plank flooring
washer/dryer
hurricane impact windows
roman tubs
private patios
Offered for sale by the original developer
2007 and 2025 one-story villa style construction
Situated on a 1.74-acre site with 34 parking spaces
Directly across the street from Hope-Centennial Elementary School
One hundred percent three-bedroom and two-bathroom floor plans
Large floor plans averaging over 1,100 rentable square feet
In place rents are approximately 10% below current market
Residents pay for all utilities including water and sewer
Building Details
Building Size
14,500 SF
Buildings
7
Stories
1
Units
13
Listing Agency:
Fort Lauderdale Office
Listed By:
Evan Kristol · License #License(s): FL: SL640466
(954) 245-3459
Source:
Marcusmillichap
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 16 at 5:49AM
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
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Investment Insights
Based on property information with market context.
The 13-unit apartment property spans 1.74 acres and comprises seven one-story buildings. Four were built in 2007 with wood-frame construction and vinyl siding; three date to 2025 and feature concrete-block construction with stucco finishes. Each apartment has three bedrooms and two bathrooms, averaging more than 1,100 rentable square feet. Interiors, except for two occupied units, have been newly finished or updated within the past year. Features in the newer-phase apartments include quartz counters, European-style cabinetry, stainless steel appliances, in-unit laundry, central heating and air conditioning, and impact-rated windows. All roofs are less than six years old. The property has 34 open parking spaces, and residents pay for separately metered utilities, including water.
The property is in the Haverhill Acres area of unincorporated West Palm Beach. Village MarketPlace is about one mile away, with grocery and convenience retail along Haverhill and Belvedere roads within two miles. Downtown West Palm Beach is approximately five to six miles east. The setting is a low-rise residential area within the county’s urban service boundary.
The property is in the Haverhill Acres area of unincorporated West Palm Beach. Village MarketPlace is about one mile away, with grocery and convenience retail along Haverhill and Belvedere roads within two miles. Downtown West Palm Beach is approximately five to six miles east. The setting is a low-rise residential area within the county’s urban service boundary.
Key Highlights
- 13 apartments, each with three bedrooms and two bathrooms; average size exceeds 1,100 rentable square feet
- Seven one‑story buildings on 1.74 acres; four built in 2007 and three in 2025
- 34 open parking spaces; utilities, including water, are separately metered and resident‑paid
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$252,365
Cap Rate
7.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,047,300
$5.0M
Cap Rate 7%
$3,605,214
$3.6M
Cap Rate 9%
$2,804,056
$2.8M
Market Conditions
NOI Build-Up for 14,500 SF
Gross rent
$482.0K $33.24/SF
− Vacancy
−$23.1K −$1.60/SF
EGI
$458.8K $31.64/SF
− OpEx
−$206.5K −$14.24/SF
NOI
$252.4K $17.40/SF
Area
West Palm Beach, FL
Vacancy
4.80%
Lease Rate
$33.24 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,047,300
Cap Rate 7%
$3,605,214
Cap Rate 9%
$2,804,056
Alternative Uses
Best Use
Apartment 5plus
$3.61M
$3.15M – $4.21M
NOI $252,365 @ 7.0% cap · market cap 7.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.21M
$8.94M – $11.91M
NOI $714,820 @ 7.0% cap · market cap 20.54%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
13
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
728
Businesses Nearby
Explore this area
Business Placement
Demographics for 33417, FL
34,153
Population
20,450
Households
1.7
Avg Household Size
48
Median Age
26%
College-Educated
83%
High-School Grad
6.6 sq mi
ZIP Area
5,175
Density / Sq Mi
$50,077
Median Household Income
$35,036
Median Earnings
$1,533
Median Rent
$159,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Seven low-rise buildings offer three-bedroom layouts with separately metered utilities.
Where is this apartment building located?
The property is located at 5289 Stacy St West Palm Beach, FL.
What is the asking price?
The asking price for this property is $3,480,000.
What are key features of this property?
This property features: 13 apartments, each with three bedrooms and two bathrooms; average size exceeds 1,100 rentable square feet; Seven one‑story buildings on 1.74 acres; four built in 2007 and three in 2025; 34 open parking spaces; utilities, including water, are separately metered and resident‑paid
