Lake Worth Beach Multifamily
For Sale
$949,000
Pending
802 North J Street, Lake Worth, FL 33460
Four-unit multifamily property in Lake Worth Beach, renovated with modern amenities.
Property Size2,144 SF
Days on Market172
Property Features for 802 North J Street
General Information
Standard status
Pending
Size
2,144 SF
Property subtype
Residential Income / Quadruplex
Lease Term
12 Months
Taxes and HOA fees
Annual Taxes
$14,137
Amenities
Ceiling Fan(s), Central Air, Electric, Paddle Fan(s)
Central, Electric
1.0
Terrazzo, Tile
1
4
Patio, Porch
Concrete Block - With Stucco
One
Shingle
Perimeter, Wood
No
Single Hung Metal, Storm Window(s)
Impact Glass
Other
Yes
Asphalt
Porch, Patio, Porch - Open, Patio - Open, Patio - Covered
Storm Shutters
Building Details
Year Built
1950
Listing Agency:
LPT Realty, LLC
(561) 536-3725
Listed By:
Michael William Luciano · License #3371345
(561) 536-3725
Source:
Compass
Added: Mar 11
Changed: Aug 23
Last Checked: Jul 24 at 1:39PM
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 LPT Realty, LLC
Investment Insights
Based on property information with market context.
This multifamily property, located in the city of Lake Worth Beach, consists of two separate CBS buildings. The property features a unit mix of one 2-bedroom, 1-bath unit, two 1-bedroom, 1-bath units, and one efficiency. All units include full kitchens, terrazzo floors, granite countertops, stainless steel appliances, tiled bathrooms, and central air conditioning. The buildings have been renovated and include newer roofs, impact windows and doors, and updated kitchens and baths. On-site amenities include three off-street parking spaces and a washer and dryer. This property is suitable for an owner occupant, rental business, or multifamily investment.
Key Highlights
- Renovated Units: All units have been renovated with updated kitchens, baths, and central A/C systems.
- Newer impact windows and doors throughout the property.
- Perfect for owner‑occupant, rental business, or multi‑family investment.
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
$35,740
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
3.77%
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%
$714,800
$714.8K
Cap Rate 7%
$510,571
$510.6K
Cap Rate 9%
$397,111
$397.1K
Market Conditions
NOI Build-Up for 2,144 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
$54.0K $25.20/SF
− Vacancy
−$3.0K −$1.39/SF
EGI
$51.1K $23.81/SF
− OpEx
−$15.3K −$7.14/SF
NOI
$35.7K $16.67/SF
Area
Palm Beach County, FL
Vacancy
5.50%
Lease Rate
$25.20 /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%
$714,800
Cap Rate 7%
$510,571
Cap Rate 9%
$397,111
Alternative Uses
Best Use
Multifamily LT 5
$510.6K
$446.8K – $595.7K
NOI $35,740 @ 7.0% cap · market cap 3.77%
Second Best
Apartment 5plus
$471.0K
$412.2K – $549.6K
NOI $32,973 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,695 @ 7.0% cap · market cap 11.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
847
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit multifamily property in Lake Worth Beach, renovated with modern amenities.
Where is this quadplex located?
The property is located at 802 North J Street Lake Worth, FL.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Renovated Units: All units have been renovated with updated kitchens, baths, and central A/C systems.; Newer impact windows and doors throughout the property.; Perfect for owner‑occupant, rental business, or multi‑family investment.
