Renovated Villas in Downtown
717 8th Ave N, Lake Worth, FL 33460
For Sale
$774,000
Renovated historic 4-unit property near downtown Lake Worth.
Property Size1,600 SF
Price / SF$483.75
Days on Market200
Property Features for 717 8th Ave N
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Listing Agency:
Affluent Realty of Florida Cor
Listed By:
Olivia L Allmon, Daymon Allmon
(561) 927-5009
Source:
Wesellhomes
Added: Apr 24
Changed: Oct 25
Last Checked: Oct 7 at 2:47PM
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 Affluent Realty of Florida Cor
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property features renovated historic villas comprising four units, each with one bedroom and one bathroom. Located in downtown Lake Worth, it is approximately a half-mile from Lake Avenue and the central downtown area. The property has been updated inside and out, featuring impact windows and doors, new paint, a newer roof, and updated fixtures and bathrooms. Ample parking is available, with both street spots and a private parking lot. The location is described as somewhat bikeable with a bike score of 43 and car-dependent with a walk score of 45. The property is presented as a potential Airbnb location. The property is located approximately a half mile to Downtown Lake Worth/Lake Avenue.
Key Highlights
- Prime location in Downtown Lake Worth, close to Lake Avenue
- Renovated historic villas featuring 4 individual units
- Great potential for Airbnb income
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,449
Cap Rate
3.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$488,980
$489.0K
Cap Rate 7%
$349,271
$349.3K
Cap Rate 9%
$271,656
$271.7K
Market Conditions
NOI Build-Up for 1,600 SF
Gross rent
$47.0K $29.40/SF
− Vacancy
−$2.6K −$1.62/SF
EGI
$44.5K $27.78/SF
− OpEx
−$20.0K −$12.50/SF
NOI
$24.4K $15.28/SF
Area
Palm Beach County, FL
Vacancy
5.50%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$488,980
Cap Rate 7%
$349,271
Cap Rate 9%
$271,656
Alternative Uses
Best Use
Apartment 5plus
$349.3K
$305.6K – $407.5K
NOI $24,449 @ 7.0% cap · market cap 3.16%
Second Best
Multifamily LT 5
$268.4K
$234.8K – $313.1K
NOI $18,785 @ 7.0% cap · market cap 2.43%
Theoretical Best
Office A
$1.13M
$986.0K – $1.31M
NOI $78,877 @ 7.0% cap · market cap 10.19%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
1,108
Businesses Nearby
Explore this area
Business Placement
Demographics for 33460, FL
36,409
Population
14,769
Households
2.5
Avg Household Size
36
Median Age
24%
College-Educated
72%
High-School Grad
4.7 sq mi
ZIP Area
7,747
Density / Sq Mi
$61,702
Median Household Income
$32,388
Median Earnings
$1,411
Median Rent
$333,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Quadplexes in Lake Worth, FL
Properties on Market for Quadplexes in Lake Worth
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Renovated historic 4-unit property near downtown Lake Worth.
Where is this quadplex located?
The property is located at 717 8th Ave N Lake Worth, FL.
What is the asking price?
The asking price for this property is $774,000.
What are key features of this property?
This property features: Prime location in Downtown Lake Worth, close to Lake Avenue; Renovated historic villas featuring 4 individual units; Great potential for Airbnb income
