Two-Unit Duplex with Fenced
New
For Sale
$579,999
706 9th Street, West Palm Beach, FL 33401
Each residence has in-unit laundry, with off-street parking and a private rear yard serving the property.
Property Size2,768 SF
Lot Size0.14 Acres
Price / SF$209.54
Days on Market5
Property Features for 706 9th Street
General Information
Standard status
Active
Size
2,768 SF
Lot size
0.14 Acres
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
1 x oversized 4BR/2BA, 1 x 3BR/1.5BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$2,075
Taxes and HOA fees
Annual Taxes
$9,698
Amenities
in-unit washer and dryer
private fenced rear yard
off-street parking
mature landscaping
decorative fireplace/chimney
Building Details
Building Size
2,768 SF
Year Built
1926
Buildings
1
Listing Agency:
Golani Realty Inc
Listed By:
Milton Serret · License #3584463
(786) 508-7245
Source:
Meyerlucas
Added: Oct 8
Changed: Oct 10
Last Checked: Oct 11 at 2:24PM
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 Golani Realty Inc
Investment Insights
Based on property information with market context.
Built in 1926, this 2,768-square-foot duplex contains two residences on a 6,098-square-foot lot. One apartment has four bedrooms and two bathrooms; the other offers three bedrooms and one-and-a-half bathrooms. Both include an in-unit washer and dryer. The property also has a fenced rear yard, off-street parking, mature landscaping, and a decorative fireplace and chimney. Both units are occupied, and tenants pay their utilities.
At 706 9th Street in West Palm Beach, the property is a short distance from Downtown West Palm Beach.
At 706 9th Street in West Palm Beach, the property is a short distance from Downtown West Palm Beach.
Key Highlights
- Two‑unit duplex built in 1926
- 2,768 SF building on a 6,098 SF lot
- One unit has 4 bedrooms and 2 bathrooms; the other has 3 bedrooms and 1.5 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,799
Cap Rate
8.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,035,980
$1.0M
Cap Rate 7%
$739,986
$740.0K
Cap Rate 9%
$575,544
$575.5K
Market Conditions
NOI Build-Up for 2,768 SF
Gross rent
$78.1K $28.20/SF
− Vacancy
−$4.1K −$1.47/SF
EGI
$74.0K $26.73/SF
− OpEx
−$22.2K −$8.02/SF
NOI
$51.8K $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 Rate 5%
$1,035,980
Cap Rate 7%
$739,986
Cap Rate 9%
$575,544
Alternative Uses
Best Use
Multifamily LT 5
$740.0K
$647.5K – $863.3K
NOI $51,799 @ 7.0% cap · market cap 8.93%
Second Best
Apartment 5plus
$688.2K
$602.2K – $802.9K
NOI $48,176 @ 7.0% cap · market cap 8.31%
Theoretical Best
Office A
$1.95M
$1.71M – $2.27M
NOI $136,457 @ 7.0% cap · market cap 23.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence has in-unit laundry, with off-street parking and a private rear yard serving the property.
Where is this duplex located?
The property is located at 706 9th Street West Palm Beach, FL.
What is the asking price?
The asking price for this property is $579,999.
What are key features of this property?
This property features: Two‑unit duplex built in 1926; 2,768 SF building on a 6,098 SF lot; One unit has 4 bedrooms and 2 bathrooms; the other has 3 bedrooms and 1.5 bathrooms
