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1883 Smith Dr 4 Unit Apartment Building $789,000 ($197,250/Unit) North Palm Beach, FL 33408
EXECUTIVE SUMMARY
North Palm Beach Investment Opportunity. Turnkey income-producing 4-unit multifamily property featuring three studio apartments and one 1-bedroom unit in a highly desirable North Palm Beach location. Short distance to Palm Beach State College, shopping, dining, and the beach, ensuring strong rental demand year-round. Built with durable CBS construction, this property offers separate FPL meters, well water (no water bills), and a shared laundry room for tenant convenience. Units rent quickly and consistently, making this a solid cash-flowing asset. Ideal for investors seeking steady returns or an owner-occupant looking to live in one unit while renting the others. Don't miss this opportunity to own a reliable, low-maintenance property in one of Palm Beach County's best rental markets.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $789,000 | Building Class | C |
| Price Per Unit | $197,250 | Lot Size | 0.34 AC |
| Sale Type | Investment | Building Size | 1,848 SF |
| No. Units | 4 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 1958 |
| Apartment Style | Low-Rise | ||
| Zoning | RH - RH—MULTI-FAMILY (HIGH DENSITY) (00-UNINCORPORATED) | ||
| Price | $789,000 |
| Price Per Unit | $197,250 |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 1,848 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1958 |
| Zoning | RH - RH—MULTI-FAMILY (HIGH DENSITY) (00-UNINCORPORATED) |
AMENITIES
UNIT AMENITIES
- Air Conditioning
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 3 | $1,300 | 400 |
| 1+1 | 1 | $1,600 | 500 |
1 1
PROPERTY TAXES
| Parcel Number | 00-43-42-04-01-000-0160 | Improvements Assessment | $0 (2025) |
| Land Assessment | $0 (2025) | Total Assessment | $417,005 (2025) |
PROPERTY TAXES
Parcel Number
00-43-42-04-01-000-0160
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$417,005 (2025)
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1883 Smith Dr
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