Renovated Triplex with Central
For Sale
$679,000
Pending
618 30th Street, West Palm Beach, FL 33407
Renovated triplex with central AC in two units and a roof recoated in late 2024.
Property Size1,689 SF
Days on Market29
Property Features for 618 30th Street
General Information
Standard status
Pending
Size
1,689 SF
Property subtype
Triplex
Additional Details
Furnished
Yes
Multifamily Units
3
Building Details
Year Built
1930
Listing Agency:
LoKation
(786) 202-5354
Listed By:
Pilar Lesmes · License #R11165434
(786) 202-5354
Source:
Lehmannflorida
Added: Jul 14
Changed: Aug 8
Last Checked: Jul 23 at 5:21AM
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 LoKation
Investment Insights
Based on property information with market context.
This turnkey triplex offers a recently renovated setup and includes central AC in two of the units. The roof was recoated in late 2024, and two units are furnished, supporting flexible short-term rental use. The property has been vacant since late June 2026.
Located in the Northwood area of West Palm Beach, the home is described as being just blocks from the new development of Northwood Village, with restaurants, cafes, and boutiques nearby. The remarks also note that Downtown WPB, Singer Island, Palm Beach Lakes Mall, Palm Beach International Airport, and the train station are within minutes, along with Good Samaritan Hospital, The Breakers, and local beaches.
According to the provided information, the property was producing $5,325 per month as a yearly rental prior to becoming vacant.
Located in the Northwood area of West Palm Beach, the home is described as being just blocks from the new development of Northwood Village, with restaurants, cafes, and boutiques nearby. The remarks also note that Downtown WPB, Singer Island, Palm Beach Lakes Mall, Palm Beach International Airport, and the train station are within minutes, along with Good Samaritan Hospital, The Breakers, and local beaches.
According to the provided information, the property was producing $5,325 per month as a yearly rental prior to becoming vacant.
Key Highlights
- Renovated triplex built in 1930 in West Palm Beach’s Northwood area
- Central A/C in two units; two units are furnished
- Roof re‑coated in late 2024
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
$31,607
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
4.65%
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%
$632,140
$632.1K
Cap Rate 7%
$451,529
$451.5K
Cap Rate 9%
$351,189
$351.2K
Market Conditions
NOI Build-Up for 1,689 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
$47.6K $28.20/SF
− Vacancy
−$2.5K −$1.47/SF
EGI
$45.2K $26.73/SF
− OpEx
−$13.5K −$8.02/SF
NOI
$31.6K $18.71/SF
Area
West Palm Beach, FL
Vacancy
5.20%
Lease Rate
$28.20 /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%
$632,140
Cap Rate 7%
$451,529
Cap Rate 9%
$351,189
Alternative Uses
Best Use
Multifamily LT 5
$451.5K
$395.1K – $526.8K
NOI $31,607 @ 7.0% cap · market cap 4.65%
Second Best
Apartment 5plus
$419.9K
$367.5K – $489.9K
NOI $29,396 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,264 @ 7.0% cap · market cap 12.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
912
Businesses Nearby
Explore this area
Business Placement
Demographics for 33407, FL
34,558
Population
15,147
Households
2.3
Avg Household Size
35
Median Age
26%
College-Educated
78%
High-School Grad
9.9 sq mi
ZIP Area
3,491
Density / Sq Mi
$56,606
Median Household Income
$34,886
Median Earnings
$1,551
Median Rent
$290,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Renovated triplex with central AC in two units and a roof recoated in late 2024.
Where is this triplex located?
The property is located at 618 30th Street West Palm Beach, FL.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: Renovated triplex built in 1930 in West Palm Beach’s Northwood area; Central A/C in two units; two units are furnished; Roof re‑coated in late 2024
