3-Unit Triplex with Shared
New
For Sale
$650,000
A-516 20th St, West Palm Beach, FL 33404
Separate electric and water meters serve each residence, alongside a shared outdoor area.
Property Size2,520 SF
Price / SF$257.94
Days on Market3
Property Features for A-516 20th St
General Information
Standard status
Active
Size
2,520 SF
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/2BA, 2 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,821
Amenities
shared yard area
Listing Agency:
E-Realty Services Corp.
Listed By:
Albert J Elias · License #552885
(954) 850-6674
Source:
Exprealty
Added: Oct 6
Changed: Oct 7
Last Checked: Oct 7 at 2:12PM
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 E-Realty Services Corp.
Investment Insights
Based on property information with market context.
This 2,520-square-foot triplex contains three residences: an upstairs 3-bedroom, 2-bath unit and two downstairs 2-bedroom, 1-bath units. Each residence has its own electric and water meter, and occupants share a large yard. The property is at A-516 20th St in West Palm Beach, near new shops and developments.
Key Highlights
- Three residences totaling 2,520 square feet
- Unit mix: one 3‑bedroom, 2‑bath residence and two 2‑bedroom, 1‑bath residences
- Individual electric and water meters for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,158
Cap Rate
7.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$943,160
$943.2K
Cap Rate 7%
$673,686
$673.7K
Cap Rate 9%
$523,978
$524.0K
Market Conditions
NOI Build-Up for 2,520 SF
Gross rent
$71.1K $28.20/SF
− Vacancy
−$3.7K −$1.47/SF
EGI
$67.4K $26.73/SF
− OpEx
−$20.2K −$8.02/SF
NOI
$47.2K $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%
$943,160
Cap Rate 7%
$673,686
Cap Rate 9%
$523,978
Alternative Uses
Best Use
Multifamily LT 5
$673.7K
$589.5K – $786.0K
NOI $47,158 @ 7.0% cap · market cap 7.26%
Second Best
Apartment 5plus
$626.6K
$548.2K – $731.0K
NOI $43,859 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$1.77M
$1.55M – $2.07M
NOI $124,231 @ 7.0% cap · market cap 19.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
954
Businesses Nearby
Explore this area
Business Placement
Demographics for 33404, FL
31,869
Population
15,990
Households
2
Avg Household Size
42
Median Age
27%
College-Educated
87%
High-School Grad
7.3 sq mi
ZIP Area
4,366
Density / Sq Mi
$60,225
Median Household Income
$35,521
Median Earnings
$1,507
Median Rent
$305,600
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?
Triplex - Separate electric and water meters serve each residence, alongside a shared outdoor area.
Where is this triplex located?
The property is located at A-516 20th St West Palm Beach, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Three residences totaling 2,520 square feet; Unit mix: one 3‑bedroom, 2‑bath residence and two 2‑bedroom, 1‑bath residences; Individual electric and water meters for each unit
