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1331 Longwood St 5 Unit Apartment Building $895,000 ($179,000/Unit) 6.63% Cap Rate West Palm Beach, FL 33401
Investment Highlights
- Mercer Park location!
- Owner motivated!
- 7% cap rate on Existing rents!
Executive Summary
Five unit property in Mercer Park neighborhood. Mercer Park is just a short distance to down town West Palm Beach. Units consist of two- 2 bedrooms, one- 1 bedrooms and a studio. Off street parking for six cars. Close to on ramp for I-95. Walking distance to shops and restaurants in The District.
Financial Summary (Actual - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$88,940
|
$29.07
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$4,800
|
$1.57
|
| Effective Gross Income |
$84,140
|
$27.50
|
| Taxes |
$9,000
|
$2.94
|
| Operating Expenses |
$16,100
|
$5.26
|
| Total Expenses |
$25,100
|
$8.20
|
| Net Operating Income |
$59,040
|
$19.29
|
Financial Summary (Actual - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $88,940 |
| Annual Per SF | $29.07 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $4,800 |
| Annual Per SF | $1.57 |
| Effective Gross Income | |
|---|---|
| Annual | $84,140 |
| Annual Per SF | $27.50 |
| Taxes | |
|---|---|
| Annual | $9,000 |
| Annual Per SF | $2.94 |
| Operating Expenses | |
|---|---|
| Annual | $16,100 |
| Annual Per SF | $5.26 |
| Total Expenses | |
|---|---|
| Annual | $25,100 |
| Annual Per SF | $8.20 |
| Net Operating Income | |
|---|---|
| Annual | $59,040 |
| Annual Per SF | $19.29 |
Property Facts
| Price | $895,000 | Apartment Style | Low-Rise |
| Price Per Unit | $179,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.13 AC |
| Cap Rate | 6.63% | Building Size | 3,060 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 10 | No. Stories | 2 |
| No. Units | 5 | Year Built/Renovated | 1925/2024 |
| Property Type | Multifamily | Parking Ratio | 1.96/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | C | ||
| Price | $895,000 |
| Price Per Unit | $179,000 |
| Sale Type | Investment |
| Cap Rate | 6.63% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 10 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 3,060 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1925/2024 |
| Parking Ratio | 1.96/1,000 SF |
| Zoning | C |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $1,448 | 612 |
| 2+1 | 2 | $1,700 | 750 |
| Studios | 1 | $1,075 | 350 |
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Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
20/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 74-43-43-28-13-001-0240 | Total Assessment | $378,827 (2025) |
| Land Assessment | $0 (2025) | Annual Taxes | $9,000 ($2.94/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
74-43-43-28-13-001-0240
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$378,827 (2025)
Annual Taxes
$9,000 ($2.94/SF)
Tax Year
2026
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Contact the Sale Advisor
1331 Longwood St