Two-Unit Residential Income
620 51st Street West Palm Beach, FL 33407
For Sale
Under Contract
$350,000
MULTI_FAMILY - West Palm Beach, FL
Property Size572 SF
Lot Size0.12 Acres
Price / SF$611.89
Days on Market139
Property Features for 620 51st Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Single Family Residence
- Zoning
- SF7 (city)
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 4, Bedroom 2, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1
- Parking
- 2
- Parking features
- Driveway, On Street, Carport
- Pets allowed
- Call, Yes
- Appliances
- Cooktop, Refrigerator
- Standard status
- Active Under Contract
- APN
- 74434304080580170
- Size
- 572 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- NORTH PALM BEACH PL NO 4 LTS 17 & 18 BLK 58
- Tax Annual Amount
- 4181
Utilities
- Sewer type
- Public Sewer
- Cooling system
- Window Unit(s), Wall/Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1954
- Floors in Building
- 1
- Flooring type
- Wood
- Building materials
- Wood Frame
- Roof type
- Flat
Listing Agency:
Illustrated Properties LLC (Co
(561) 626-7000
Listed By:
Savannah Bennett · License #3644893
(954) 328-5044
Added: Mar 9
Changed: Jul 25
Last Checked: Jul 25 at 8:06PM
MLS# B26001084
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This property combines a single-family home and a separate cottage, each configured as a 2/1 unit. The listing describes both units as currently rented, with leases available upon request. The total property size is 572 square feet, situated on a 0.12-acre lot, and it is designated SF7 (city) zoning.
The address is 620 51st Street in West Palm Beach, Florida 33407, in Palm Beach County. The public remarks indicate the home is down the street from Northwood Village shops and dining. The location is also described as less than 5 minutes to La Marina and Safe Harbor Rybovich, and under 10 minutes to NORA and Downtown West Palm Beach.
For investors or buyers seeking an owner-occupied or income-focused residential setup, the presence of two separately rented 2/1 units provides a straightforward tenant mix. With current rental income cited for the main house and cottage, and lease information available upon request, this structure may fit buyers evaluating a small, two-unit residential portfolio under SF7 zoning.
The address is 620 51st Street in West Palm Beach, Florida 33407, in Palm Beach County. The public remarks indicate the home is down the street from Northwood Village shops and dining. The location is also described as less than 5 minutes to La Marina and Safe Harbor Rybovich, and under 10 minutes to NORA and Downtown West Palm Beach.
For investors or buyers seeking an owner-occupied or income-focused residential setup, the presence of two separately rented 2/1 units provides a straightforward tenant mix. With current rental income cited for the main house and cottage, and lease information available upon request, this structure may fit buyers evaluating a small, two-unit residential portfolio under SF7 zoning.
Key Highlights
- Single‑family home plus cottage; both units are 2/1 (2 bedrooms, 1 bathroom each).
- Main house is currently rented for $1,500; cottage is currently rented for $1,100. Leases available upon request.
- Year built: 1954. Wood frame construction and wood flooring.
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 | $16.1k | $28.20 |
| − Vacancy | −$839 | −$1.47 |
| EGI | $15.3k | $26.73 |
| − OpEx | −$4.6k | −$8.02 |
| NOI | $10.7k | $18.71 |
572 SF · lease $28.20/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$152.9K
$133.8K – $178.4K
NOI $10,704 @ 7.0% cap · market cap 3.06%
Second Best
Apartment 5plus
$142.2K
$124.4K – $165.9K
NOI $9,955 @ 7.0% cap · market cap 2.84%
Theoretical Best
Office A
$402.8K
$352.5K – $470.0K
NOI $28,198 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - A single-family home and cottage, each with two bedrooms, currently rented under available leases.
Where is this duplex located?
The property is located at 620 51st Street West Palm Beach, FL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Single‑family home plus cottage; both units are 2/1 (2 bedrooms, 1 bathroom each).; Main house is currently rented for $1,500; cottage is currently rented for $1,100. Leases available upon request.; Year built: 1954. Wood frame construction and wood flooring.
