602 N H St 1a Lake Worth, FL 33460
Condo-structured multifamily with individual deeds and meters for tenant billing flexibility and potential rent stabilization.
Property Features for 602 N H St 1a
General Information
- Standard status
- Active
- Size
- 3,896 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1971
Listing office ATLANTIC FLORIDA PROPERTIES (786) 663-4790
Listing date Jun 14, 2026
Source Elliman
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Investment Insights
Based on property information with market context.
The property is located at 602 N H St in Lake Worth, Florida. It is described as having mixed-use zoning (MU-DIXIE). Walkability and bikeability are noted as modest, with the area characterized as car-dependent based on the provided WalkScore and BikeScore.
For prospective owners or operators, the combination of individual deeds, individual meters, and a condo framework may appeal to those looking for a manageable ownership structure alongside the ability to pursue stabilization and rent optimization, as referenced in the offering materials. The remarks also cite an approximate 7.09% cap rate at asking price.
Key Highlights
- Condo‑structured multifamily with individual deeds and individual meters for tenant billing flexibility
- Unit mix includes three 1‑bedroom 1‑bath units at 620 SF each (1A, 2A, 3A)
- Additional units: one 2‑bedroom 1‑bath unit at 796 SF (5B) plus three 1‑bedroom 1‑bath units at 620 SF each (7B, 8B)
Local Financial Insights For Apartment 5plus
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 | $114.1k | $29.28 |
| − Vacancy | −$5.1k | −$1.32 |
| EGI | $108.9k | $27.96 |
| − OpEx | −$49.0k | −$12.58 |
| NOI | $59.9k | $15.38 |
