Furnished Room-Rental Multifamily
New
For Sale
$450,000
815 BRIGGS Street, West Palm Beach, FL 33405
Residential Income, West Palm Beach, FL
Property Size994 SF
Lot Size0.13 Acres
Price / SF$452.72
Days on Market4
Property Features for 815 BRIGGS Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
SF7 (city)
Bedrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1
Exterior features
Lighting
Fencing
Chain Link
Subdivision
LAKEVIEW RIDGE
Lot features
Interior Lot
Elementary school
Palmetto (Palm Beach)
Middle school
Conniston Community
High school
Forest Hill
Directions
Take Southern Blvd East pass I-95 to Parker, turn South, go down several Blocks to Briggs, go East to property
Standard status
Active
APN
74434404090000040
Size
994 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LAKE VIEW RIDGE REPL OF LTS 56 THRU 64 BLK B LOT 4
Tax Annual Amount
5993
Legal Description
LAKE VIEW RIDGE REPL OF LTS 56 THRU 64 BLK B LOT 4
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Amenities
washer and dryer
central air conditioning
refrigerator in each room
Building Details
Year built
1940
Floors in Building
1
Number of units
4
Flooring type
Wood, Tile
Building materials
Wood Frame
Roof type
Shingle
Listing Agency:
Premier Brokers International
(561) 855-6179
Listed By:
Derek Bober · License #3204607
(561) 460-7919
Added: Sep 28
Changed: Oct 1
Last Checked: Oct 1 at 7:06PM
MLS# B26081503
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 994-square-foot multifamily property contains six individually rentable rooms and two full bathrooms. Each room is furnished and includes a refrigerator. The house also has central air conditioning, an on-site washer and dryer, wood and tile flooring, and a wood-frame structure. A new roof and gutters were added in 2026, and the air-conditioning handler coil was replaced in 2025.
The property occupies a 0.13-acre lot in West Palm Beach and is zoned SF7 by the city. Public water and sewer serve the site.
The property occupies a 0.13-acre lot in West Palm Beach and is zoned SF7 by the city. Public water and sewer serve the site.
Key Highlights
- Six furnished rooms, each with a refrigerator
- Two full bathrooms and an on‑site washer and dryer
- 994 square feet on a 0.13‑acre lot
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
$17,300
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
3.84%
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%
$346,000
$346.0K
Cap Rate 7%
$247,143
$247.1K
Cap Rate 9%
$192,222
$192.2K
Market Conditions
NOI Build-Up for 994 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
$33.0K $33.24/SF
− Vacancy
−$1.6K −$1.60/SF
EGI
$31.5K $31.64/SF
− OpEx
−$14.2K −$14.24/SF
NOI
$17.3K $17.40/SF
Area
West Palm Beach, FL
Vacancy
4.80%
Lease Rate
$33.24 /SF/Yr
Expense Ratio
45.00%
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%
$346,000
Cap Rate 7%
$247,143
Cap Rate 9%
$192,222
Alternative Uses
Best Use
Apartment 5plus
$247.1K
$216.3K – $288.3K
NOI $17,300 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$700.0K
$612.5K – $816.7K
NOI $49,002 @ 7.0% cap · market cap 10.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,172
Businesses Nearby
Explore this area
Business Placement
Demographics for 33405, FL
19,369
Population
9,557
Households
2
Avg Household Size
41
Median Age
34%
College-Educated
82%
High-School Grad
4.5 sq mi
ZIP Area
4,304
Density / Sq Mi
$82,945
Median Household Income
$46,450
Median Earnings
$1,432
Median Rent
$401,200
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?
Multifamily property - Six furnished rooms, shared bathrooms, and on-site laundry support the property's room-rental configuration.
Where is this multifamily property located?
The property is located at 815 BRIGGS Street West Palm Beach, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Six furnished rooms, each with a refrigerator; Two full bathrooms and an on‑site washer and dryer; 994 square feet on a 0.13‑acre lot
