Triplex with Central
For Sale
$875,000
939 35TH Street, West Palm Beach, FL 33407
Three separate residences offer varied bedroom layouts, with on-site parking and water paid by the landlord.
Property Size2,148 SF
Price / SF$407.36
Days on Market30
Property Features for 939 35TH Street
General Information
Standard status
Active
Size
2,148 SF
Property subtype
Triplex
Units
Unit Mix
1 x 3BR/1BA, 2 x 2BR/1BA
Multifamily Units
3
Additional Details
Gross Income
$84,000
Amenities
central air
parking
Building Details
Year Built
1958
Year Renovated
2020
Buildings
1
Listing Agency:
Partnership Realty Inc.
(561) 355-0270
Listed By:
Stanley C Gordon · License #3193465
(561) 719-6372
Source:
Lehmannflorida
Added: Sep 13
Changed: Oct 11
Last Checked: Oct 11 at 8:30AM
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 Partnership Realty Inc.
Investment Insights
Based on property information with market context.
This triplex contains three residences: a front unit with three bedrooms and one full bath, plus two rear apartments. The first-floor rear apartment has two bedrooms, one bath, and a combined living and dining area; the upstairs rear apartment has two bedrooms, including a large primary bedroom, and one bath. The building was remodeled in 2020 and has central air conditioning and parking. The landlord pays for water.
Key Highlights
- Three residential units in a building remodeled in 2020
- Front residence: 3 bedrooms and 1 full bath
- Rear first‑floor residence: 2 bedrooms, 1 bath, and a large living/dining room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,197
Cap Rate
4.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$803,940
$803.9K
Cap Rate 7%
$574,243
$574.2K
Cap Rate 9%
$446,633
$446.6K
Market Conditions
NOI Build-Up for 2,148 SF
Gross rent
$60.6K $28.20/SF
− Vacancy
−$3.1K −$1.47/SF
EGI
$57.4K $26.73/SF
− OpEx
−$17.2K −$8.02/SF
NOI
$40.2K $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%
$803,940
Cap Rate 7%
$574,243
Cap Rate 9%
$446,633
Alternative Uses
Best Use
Multifamily LT 5
$574.2K
$502.5K – $670.0K
NOI $40,197 @ 7.0% cap · market cap 4.59%
Second Best
Apartment 5plus
$534.1K
$467.3K – $623.1K
NOI $37,385 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,892 @ 7.0% cap · market cap 12.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
690
Businesses Nearby
Explore this area
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three separate residences offer varied bedroom layouts, with on-site parking and water paid by the landlord.
Where is this triplex located?
The property is located at 939 35TH Street West Palm Beach, FL.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Three residential units in a building remodeled in 2020; Front residence: 3 bedrooms and 1 full bath; Rear first‑floor residence: 2 bedrooms, 1 bath, and a large living/dining room
