5-Unit Apartment
New
For Sale
$949,000
5443 Wallis Road #A, West Palm Beach, FL 33415
Two separate buildings provide a multi-residence configuration on a single parcel.
Property Size2,351 SF
Lot Size0.75 Acres
Price / SF$403.66
Days on Market2
Property Features for 5443 Wallis Road #A
General Information
Standard status
Active
Size
2,351 SF
Total Parking Spaces
13
Lot size
0.75 Acres
Property subtype
Residential Income
Zoning
RM
Net Operating Income
$55,536
Additional Details
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$10,947
Building Details
Building Size
2,351 SF
Year Built
1962
Buildings
2
Stories
1
Listing Agency:
CPRE Organization Inc
Listed By:
Cole D Leavitt · License #BK3238799
(954) 709-1003
Source:
Laerrealty
Added: Oct 7
Last Checked: Oct 7 at 2:12PM
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 CPRE Organization Inc
Investment Insights
Based on property information with market context.
This RM-zoned apartment property contains five units across two separate buildings. The buildings offer a multi-residence layout, with 2,351 square feet of property size reported. Built in 1962, the property occupies approximately three-quarters of an acre.
Tenants are present. Property visits require the listing agent to accompany, with 24-hour notice; occupants should not be approached directly.
Tenants are present. Property visits require the listing agent to accompany, with 24-hour notice; occupants should not be approached directly.
Key Highlights
- 5 units across two separate buildings
- 2,351 square feet of property size reported
- Approximately 3/4 acre
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,918
Cap Rate
4.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$818,360
$818.4K
Cap Rate 7%
$584,543
$584.5K
Cap Rate 9%
$454,644
$454.6K
Market Conditions
NOI Build-Up for 2,351 SF
Gross rent
$78.1K $33.24/SF
− Vacancy
−$3.8K −$1.60/SF
EGI
$74.4K $31.64/SF
− OpEx
−$33.5K −$14.24/SF
NOI
$40.9K $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%
$818,360
Cap Rate 7%
$584,543
Cap Rate 9%
$454,644
Alternative Uses
Best Use
Apartment 5plus
$584.5K
$511.5K – $682.0K
NOI $40,918 @ 7.0% cap · market cap 4.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $115,899 @ 7.0% cap · market cap 12.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
258
Businesses Nearby
Explore this area
Business Placement
Demographics for 33415, FL
51,251
Population
20,364
Households
2.5
Avg Household Size
37
Median Age
19%
College-Educated
77%
High-School Grad
7.3 sq mi
ZIP Area
7,021
Density / Sq Mi
$57,199
Median Household Income
$35,146
Median Earnings
$1,597
Median Rent
$220,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two separate buildings provide a multi-residence configuration on a single parcel.
Where is this apartment building located?
The property is located at 5443 Wallis Road #A West Palm Beach, FL.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: 5 units across two separate buildings; 2,351 square feet of property size reported; Approximately 3/4 acre
