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Lake Worth Beach Fourplex 1008 18th Ave N 4 Unit Apartment Building $925,000 ($231,250/Unit) 7.04% Cap Rate Lake Worth Beach, FL 33460
INVESTMENT HIGHLIGHTS
- Fully Occupied 4-Unit Multifamily – 100% leased property providing immediate and stable cash flow
- Value-Add & Upside Potential – Opportunity to increase rents and enhance long-term returns
- Flexible Zoning & Land Use – Zoned SF-TF-14 on a 6,250 SF lot, allowing versatile residential use
- Strong In-Place Income – Approximately $82,200 in current annual gross income
- Prime Lake Worth Beach Location – Minutes from downtown Lake Worth Beach and nearby beaches
- Excellent Accessibility – Approximately 3 minutes to I-95 and 10–16 minutes to Palm Beach International Airport
EXECUTIVE SUMMARY
Rare opportunity to acquire a fully occupied, income-producing 4-unit multifamily property in the heart of Lake Worth Beach, FL. Each unit has been recently upgraded with central AC, new flooring, modern lighting, and renovated kitchens and bathrooms, and the property also includes a coin laundry room for additional income. The building generates almost $7,000 per month and offers immediate cash flow with upside potential through rental growth and operational improvements. Ideally located just minutes from downtown Lake Worth Beach, the area’s beaches, I-95, and Palm Beach International Airport, this investment combines stable income with long-term appreciation potential.
FINANCIAL SUMMARY (PRO FORMA - 2026) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$88,800
|
$35.75
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$88,800
|
$35.75
|
| Taxes |
$16,650
|
$6.70
|
| Operating Expenses |
$7,000
|
$2.82
|
| Total Expenses |
$23,650
|
$9.52
|
| Net Operating Income |
$65,150
|
$26.23
|
FINANCIAL SUMMARY (PRO FORMA - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $88,800 |
| Annual Per SF | $35.75 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $88,800 |
| Annual Per SF | $35.75 |
| Taxes | |
|---|---|
| Annual | $16,650 |
| Annual Per SF | $6.70 |
| Operating Expenses | |
|---|---|
| Annual | $7,000 |
| Annual Per SF | $2.82 |
| Total Expenses | |
|---|---|
| Annual | $23,650 |
| Annual Per SF | $9.52 |
| Net Operating Income | |
|---|---|
| Annual | $65,150 |
| Annual Per SF | $26.23 |
PROPERTY FACTS
| Price | $925,000 | Building Class | C |
| Price Per Unit | $231,250 | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 2,484 SF |
| Cap Rate | 7.04% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1970/1995 |
| Property Subtype | Apartment | Parking Ratio | 1.61/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | SF-TF-14 - Multifamily | ||
| Price | $925,000 |
| Price Per Unit | $231,250 |
| Sale Type | Investment |
| Cap Rate | 7.04% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 2,484 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1970/1995 |
| Parking Ratio | 1.61/1,000 SF |
| Zoning | SF-TF-14 - Multifamily |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Heating
- Ceiling Fans
- Dining Room
SITE AMENITIES
- 24 Hour Access
- Wheelchair Accessible
- Smoke Free
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | $1,850 | - |
1 1
Walk Score®
Very Walkable (70)
Bike Score®
Very Bikeable (73)
PROPERTY TAXES
| Parcel Number | 38-43-44-15-16-043-0140 | Total Assessment | $438,780 (2025) |
| Land Assessment | $0 (2025) | Annual Taxes | $16,650 ($6.70/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2026 |
PROPERTY TAXES
Parcel Number
38-43-44-15-16-043-0140
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$438,780 (2025)
Annual Taxes
$16,650 ($6.70/SF)
Tax Year
2026
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Lake Worth Beach Fourplex | 1008 18th Ave N
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