5-Unit Apartment
New
For Sale
$1,250,000
633 10th Street #1-5, West Palm Beach, FL 33401
Four apartments are vacant, with one currently occupied by a tenant.
Property Size3,500 SF
Days on Market4
Property Features for 633 10th Street #1-5
General Information
Standard status
Active
Size
3,500 SF
Total Parking Spaces
5
Zoning
NWD-R (city)
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
5 x 2BR/1BA
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$7,305
Building Details
Building Size
3,500 SF
Year Built
1974
Buildings
1
Stories
1
Listing Agency:
Keller Williams Coastal Partne
Listed By:
Ryan Straub
(561) 597-5887
Source:
Laerrealty
Added: Oct 4
Last Checked: Oct 5 at 4:00PM
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 Keller Williams Coastal Partne
Investment Insights
Based on property information with market context.
This 1974 apartment property contains five units, each arranged with two bedrooms and one bathroom. Four units are vacant, and the fifth is tenant occupied. The property is zoned NWD-R (city).
The address is in Downtown West Palm Beach, near mass transit, I-95, beaches, shopping, dining, and parks.
The address is in Downtown West Palm Beach, near mass transit, I-95, beaches, shopping, dining, and parks.
Key Highlights
- Five apartments, each with 2 bedrooms and 1 bathroom
- Four units are vacant; one is tenant occupied
- Built in 1974
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,916
Cap Rate
4.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,218,320
$1.2M
Cap Rate 7%
$870,229
$870.2K
Cap Rate 9%
$676,844
$676.8K
Market Conditions
NOI Build-Up for 3,500 SF
Gross rent
$116.3K $33.24/SF
− Vacancy
−$5.6K −$1.60/SF
EGI
$110.8K $31.64/SF
− OpEx
−$49.8K −$14.24/SF
NOI
$60.9K $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%
$1,218,320
Cap Rate 7%
$870,229
Cap Rate 9%
$676,844
Alternative Uses
Best Use
Apartment 5plus
$870.2K
$761.5K – $1.02M
NOI $60,916 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.46M
$2.16M – $2.88M
NOI $172,543 @ 7.0% cap · market cap 13.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,836
Businesses Nearby
Explore this area
Business Placement
Demographics for 33401, FL
31,302
Population
19,051
Households
1.6
Avg Household Size
40
Median Age
42%
College-Educated
89%
High-School Grad
5.1 sq mi
ZIP Area
6,138
Density / Sq Mi
$60,942
Median Household Income
$39,932
Median Earnings
$1,774
Median Rent
$430,900
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 - Four apartments are vacant, with one currently occupied by a tenant.
Where is this apartment building located?
The property is located at 633 10th Street #1-5 West Palm Beach, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Five apartments, each with 2 bedrooms and 1 bathroom; Four units are vacant; one is tenant occupied; Built in 1974
