Single-Story
For Sale
$1,200,000
709 13TH Street, West Palm Beach, FL 33401
Four residential units share one West Palm Beach parcel, supporting a multi-unit ownership or rental configuration.
Property Size2,760 SF
Price / SF$434.78
Days on Market13
Property Features for 709 13TH Street
General Information
Standard status
Active
Size
2,760 SF
Property subtype
Quadruplex
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$12,976
Building Details
Building Size
2,760 SF
Year Built
1968
Stories
1
Listing Agency:
Charles Rutenberg Realty FTL
(954) 501-1197
Listed By:
Junior Beaubrun · License #3170402
(954) 501-1197
Source:
Meyerlucas
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 28 at 7:10PM
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 Charles Rutenberg Realty FTL
Investment Insights
Based on property information with market context.
This single-level quadplex contains 2,760 square feet of finished living area arranged among four separate residential units. The configuration places multiple dwellings on one parcel and offers a straightforward building layout for ownership or rental operations.
Built in 1968, the property is located in West Palm Beach’s Freshwater 11th & 12th Avenue Addition at 709 13TH Street. Its four-unit design provides a residential income property format within a single building, with each unit contributing to the overall asset configuration.
Built in 1968, the property is located in West Palm Beach’s Freshwater 11th & 12th Avenue Addition at 709 13TH Street. Its four-unit design provides a residential income property format within a single building, with each unit contributing to the overall asset configuration.
Key Highlights
- Four individual residential units on one parcel
- 2,760 square feet of finished living space
- Single‑story building configuration
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
$51,649
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
4.30%
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%
$1,032,980
$1.0M
Cap Rate 7%
$737,843
$737.8K
Cap Rate 9%
$573,878
$573.9K
Market Conditions
NOI Build-Up for 2,760 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
$77.8K $28.20/SF
− Vacancy
−$4.0K −$1.47/SF
EGI
$73.8K $26.73/SF
− OpEx
−$22.1K −$8.02/SF
NOI
$51.6K $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%
$1,032,980
Cap Rate 7%
$737,843
Cap Rate 9%
$573,878
Alternative Uses
Best Use
Multifamily LT 5
$737.8K
$645.6K – $860.8K
NOI $51,649 @ 7.0% cap · market cap 4.30%
Second Best
Apartment 5plus
$686.2K
$600.5K – $800.6K
NOI $48,036 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$1.94M
$1.70M – $2.27M
NOI $136,062 @ 7.0% cap · market cap 11.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,910
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units share one West Palm Beach parcel, supporting a multi-unit ownership or rental configuration.
Where is this quadplex located?
The property is located at 709 13TH Street West Palm Beach, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Four individual residential units on one parcel; 2,760 square feet of finished living space; Single‑story building configuration
