5-Unit Apartment
A-5443 Wallis Rd, West Palm Beach, FL 33415
For Sale
$899,000
The unit mix comprises three two-bedroom apartments and two one-bedroom apartments, each with one bathroom.
Property Size2,351 SF
Price / SF$382.39
Days on Market14
Property Features for A-5443 Wallis Rd
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Listing Agency:
CPRE Organization Inc
(561) 342-4368
Listed By:
Cole D Leavitt · License FL BK3238799
(954) 709-1003
Source:
Exprealty
Added: Oct 28
Changed: Nov 9
Last Checked: Nov 9 at 1:56PM
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 CPRE Organization Inc
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This five-unit apartment property includes three apartments with two bedrooms and one bathroom each, alongside two one-bedroom, one-bathroom apartments. The property occupies an oversized lot with ample parking.
Owner financing is available. The property is located on Wallis Road in West Palm Beach, Florida.
Owner financing is available. The property is located on Wallis Road in West Palm Beach, Florida.
Key Highlights
- Five apartments: three 2‑bedroom/1‑bath units and two 1‑bedroom/1‑bath units
- Oversized lot with ample parking
- Owner financing available
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,918
Cap Rate
4.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$818,360
$818.4K
Cap Rate 7%
$584,543
$584.5K
Cap Rate 9%
$454,644
$454.6K
Market Conditions
NOI Build-Up for 2,351 SF
Gross rent
$78.1K $33.24/SF
− Vacancy
−$3.8K −$1.60/SF
EGI
$74.4K $31.64/SF
− OpEx
−$33.5K −$14.24/SF
NOI
$40.9K $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 Rate 5%
$818,360
Cap Rate 7%
$584,543
Cap Rate 9%
$454,644
Alternative Uses
Best Use
Apartment 5plus
$584.5K
$511.5K – $682.0K
NOI $40,918 @ 7.0% cap · market cap 4.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $115,899 @ 7.0% cap · market cap 12.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
529
Businesses Nearby
Explore this area
Business Placement
Demographics for 33415, FL
51,251
Population
20,364
Households
2.5
Avg Household Size
37
Median Age
19%
College-Educated
77%
High-School Grad
7.3 sq mi
ZIP Area
7,021
Density / Sq Mi
$57,199
Median Household Income
$35,146
Median Earnings
$1,597
Median Rent
$220,800
Median Home Value
Market
Average Price Trend$/SF for Apartment buildings in West Palm Beach, FL
Properties on Market for Apartment buildings in West Palm Beach
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - The unit mix comprises three two-bedroom apartments and two one-bedroom apartments, each with one bathroom.
Where is this apartment building located?
The property is located at A-5443 Wallis Rd West Palm Beach, FL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Five apartments: three 2‑bedroom/1‑bath units and two 1‑bedroom/1‑bath units; Oversized lot with ample parking; Owner financing available
