Lake Worth Multifamily Investment
For Sale
Contact for pricing
805 S H St, Lake Worth, FL 33460
Sixteen-unit multifamily property in Lake Worth with upside potential.
Property Size13,068 SF
Price / SF$290.79
Days on Market173
Property Features for 805 S H St
General Information
Standard status
Active
Size
13,068 SF
Class
C
Property subtype
Multifamily
Zoning
TOD-E
Building Details
Year Built
1970
Listing Agency:
Bawons Properties
Listed By:
Wendy Pierre, MBA CCIM · License #CQ1054334
Source:
Crexi
Added: Mar 10
Changed: Aug 8
Last Checked: Jul 21 at 1:04PM
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 Bawons Properties
Investment Insights
Based on property information with market context.
This offering presents an opportunity to acquire four concrete block quadplexes, totaling 16 units, located at 805, 809, 817, and 821 South H Street in Lake Worth. Each apartment features a layout with 2 bedrooms and 1 bath, providing over 815 square feet of living space. The property benefits from recent capital improvements, including new roofs and central A/C systems. Utilities are individually metered, allowing tenants to pay for their own water and electric usage. Current rents average approximately $1,900 per unit, with potential to reach market rents of around $2,100. The property is conveniently located near Dixie Highway, 6th Avenue, and I-95. This portfolio of CBS units offers low operating expenses and rental upside.
Key Highlights
- Four concrete block quadplexes (16 units) in a tenant‑magnet location.
- New roofs and central A/C systems already installed, reducing capital risk.
- Individually metered utilities (tenants pay for water and electric).
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
$217,841
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
5.73%
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%
$4,356,820
$4.4M
Cap Rate 7%
$3,112,014
$3.1M
Cap Rate 9%
$2,420,456
$2.4M
Market Conditions
NOI Build-Up for 13,068 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
$329.3K $25.20/SF
− Vacancy
−$18.1K −$1.39/SF
EGI
$311.2K $23.81/SF
− OpEx
−$93.4K −$7.14/SF
NOI
$217.8K $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%
$4,356,820
Cap Rate 7%
$3,112,014
Cap Rate 9%
$2,420,456
Alternative Uses
Best Use
Multifamily LT 5
$3.11M
$2.72M – $3.63M
NOI $217,841 @ 7.0% cap · market cap 5.73%
Second Best
Apartment 5plus
$2.87M
$2.51M – $3.35M
NOI $200,977 @ 7.0% cap · market cap 5.29%
Theoretical Best
Office A
$9.20M
$8.05M – $10.74M
NOI $644,225 @ 7.0% cap · market cap 16.95%
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 - Sixteen-unit multifamily property in Lake Worth with upside potential.
Where is this quadplex located?
The property is located at 805 S H St Lake Worth, FL.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: Four concrete block quadplexes (16 units) in a tenant‑magnet location.; New roofs and central A/C systems already installed, reducing capital risk.; Individually metered utilities (tenants pay for water and electric).
