Updated-Interior
New
For Sale
$599,999
820 21st Street, West Palm Beach, FL 33407
Each residence offers two bedrooms, a full bath, and separate electric and water meters.
Property Size1,455 SF
Days on Market6
Property Features for 820 21st Street
General Information
Standard status
Active
Size
1,455 SF
Property subtype
Triplex
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Additional Details
Gross Income
$53,400
Taxes and HOA fees
Annual Taxes
$4,726
Amenities
covered front porch
washer/dryer
Building Details
Building Size
1,455 SF
Year Built
1926
Tenancy
Multi
Listing Agency:
United Realty Group, Inc
Listed By:
Claudia S Scala · License #3376553
(305) 710-4144
Source:
Darlenestreit
Added: Oct 13
Changed: Oct 15
Last Checked: Oct 16 at 4:45PM
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 United Realty Group, Inc
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Investment Insights
Based on property information with market context.
This West Palm Beach triplex contains three separate residences, each arranged with two bedrooms, a living and dining area, a kitchen, and one full bathroom. Interior improvements include updated bathrooms, windows, paint, doors, and laminate flooring. All three units have PVC piping that has been hydro-jetted, cleaned, re-strapped, and re-pitched to the main line.
The units have separate electric and water meters, and tenants pay for electricity, water, and trash. Two residences have long-term tenants; the third has a new 12-month tenant. Laundry features vary: one unit has washer and dryer hookups, while another includes a washer and dryer.
The property is at 820 21st Street in West Palm Beach. Northwood Village, Downtown West Palm Beach, Palm Beach Lakes Mall, Palm Beach International Airport, the train station, hospitals, and The Breakers are identified as nearby destinations.
The units have separate electric and water meters, and tenants pay for electricity, water, and trash. Two residences have long-term tenants; the third has a new 12-month tenant. Laundry features vary: one unit has washer and dryer hookups, while another includes a washer and dryer.
The property is at 820 21st Street in West Palm Beach. Northwood Village, Downtown West Palm Beach, Palm Beach Lakes Mall, Palm Beach International Airport, the train station, hospitals, and The Breakers are identified as nearby destinations.
Key Highlights
- Three separate two‑bedroom residences, each with a living/dining area, kitchen, and full bath
- Individual electric and water meters; tenants pay electricity, water, and trash
- Bathrooms, windows, paint, doors, and laminate flooring have been updated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,228
Cap Rate
4.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$544,560
$544.6K
Cap Rate 7%
$388,971
$389.0K
Cap Rate 9%
$302,533
$302.5K
Market Conditions
NOI Build-Up for 1,455 SF
Gross rent
$41.0K $28.20/SF
− Vacancy
−$2.1K −$1.47/SF
EGI
$38.9K $26.73/SF
− OpEx
−$11.7K −$8.02/SF
NOI
$27.2K $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 Rate 5%
$544,560
Cap Rate 7%
$388,971
Cap Rate 9%
$302,533
Alternative Uses
Best Use
Multifamily LT 5
$389.0K
$340.4K – $453.8K
NOI $27,228 @ 7.0% cap · market cap 4.54%
Second Best
Apartment 5plus
$361.8K
$316.5K – $422.1K
NOI $25,323 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$1.02M
$896.6K – $1.20M
NOI $71,728 @ 7.0% cap · market cap 11.95%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,671
Businesses Nearby
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Business Placement
Demographics for 33407, FL
34,558
Population
15,147
Households
2.3
Avg Household Size
35
Median Age
26%
College-Educated
78%
High-School Grad
9.9 sq mi
ZIP Area
3,491
Density / Sq Mi
$56,606
Median Household Income
$34,886
Median Earnings
$1,551
Median Rent
$290,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Each residence offers two bedrooms, a full bath, and separate electric and water meters.
Where is this triplex located?
The property is located at 820 21st Street West Palm Beach, FL.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: Three separate two‑bedroom residences, each with a living/dining area, kitchen, and full bath; Individual electric and water meters; tenants pay electricity, water, and trash; Bathrooms, windows, paint, doors, and laminate flooring have been updated
