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    820 21St St West Palm Beach, FL 33407

    For Sale
    $600,000

    Renovated Triplex, High Cash Flow

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    This charming 1926-built, single-story triplex located at 820 21st St, West Palm Beach, FL 33407, presents a fantastic investment opportunity. Priced at $600,000, this property boasts three completely renovated units, each featuring two bedrooms and one bathroom. The units offer spacious living areas and covered front porches. All units are currently rented at approximately $1,500 per month, with security deposits and last month's rent held in reserve, ensuring immediate cash flow. Modern updates include new appliances, bathrooms, paint, windows, air conditioners, and doors. Separate electric and water meters provide efficient utility management. One unit includes a washer/dryer, while another offers hookups. Significant plumbing improvements have been completed, including hydro-jetting, cleaning, re-strapping, and pitch replacement of all three PVC pipes to the main line, ensuring long-term infrastructure reliability. The property also features an open parking area. Its convenient location offers easy access to downtown West Palm Beach's shopping, dining, and beaches, all within approximately 10 minutes. This turnkey investment is ready for a new owner to enjoy immediate returns. The property is situated in Palm Beach County.

    Property Features for 820 21St St

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1926
    Stories
    1

    HighLights

    • Charming 1926 triplex in West Palm Beach, FL, priced at $600,000.
    • Three completely renovated 2 bed/1 bath units, each renting for approximately $1,500/month.
    • Modern updates include new appliances, bathrooms, paint, windows, AC, and doors; separate electric and water meters.
    • Significant plumbing improvements completed.
    • Open parking area and convenient location near downtown West Palm Beach.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    West Palm Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0601827
    Latitude
    26.7331637

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    FAQs

    What type of property is this?
    Multifamily property - Renovated Triplex, High Cash Flow
    Where is this multifamily property located?
    The property is located at 820 21St St West Palm Beach, FL.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: Charming 1926 triplex in West Palm Beach, FL, priced at $600,000.; Three completely renovated 2 bed/1 bath units, each renting for approximately $1,500/month.; Modern updates include new appliances, bathrooms, paint, windows, AC, and doors; separate electric and water meters.
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    820 21St St West Palm Beach, FL 33407
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    West Palm Beach, FL 33407
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    820 21St St West Palm Beach, FL 33407
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