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329 N K St 6 Unit Apartment Building $1,495,000 ($249,167/Unit) 4.84% Cap Rate Lake Worth, FL 33460
Investment Highlights
- Six-unit multifamily property consisting of two historic residential structures
- Landscaped courtyard provides shared outdoor space for residents
- Near shopping, dining, beaches, and the Intracoastal Waterway
- Located approximately three blocks from downtown Lake Worth Beach
- Renovated unit interiors with updated finishes and fixtures
- Includes on-site laundry facilities and a storage garage
Executive Summary
329 N K St presents the opportunity to acquire a six-unit multifamily investment in Lake Worth Beach, Florida. The property consists of two historic structures totaling six residential units, including one four-bedroom unit, three one-bedroom units, and two studio units. The asset reflects ongoing ownership attention with renovated interiors that reportedly include updated kitchens, bathrooms, fixtures, flooring, paint, and appliances. Additional property features include a landscaped courtyard, on-site laundry, and a storage garage.
Positioned approximately three blocks from downtown Lake Worth Beach, the property benefits from convenient access to the city's dining, retail, entertainment, and cultural amenities. The location also provides proximity to Publix, the Intracoastal Waterway, and the area's public beaches, supporting continued residential demand from tenants seeking a walkable coastal lifestyle. Lake Worth Beach is recognized for its historic character, active downtown district, municipal beach facilities, and accessibility to the broader Palm Beach County employment base.
Built in 1928 on a 0.16-acre parcel, the property contains approximately 4,072 square feet and was offered as an investment sale with six residential units. The combination of unit diversity, historic character, and proximity to downtown amenities creates an opportunity for investors seeking an income-producing multifamily asset in an established South Florida neighborhood. The property's location near local shopping, restaurants, and recreational attractions further supports its long-term appeal within the Lake Worth Beach rental market.
Positioned approximately three blocks from downtown Lake Worth Beach, the property benefits from convenient access to the city's dining, retail, entertainment, and cultural amenities. The location also provides proximity to Publix, the Intracoastal Waterway, and the area's public beaches, supporting continued residential demand from tenants seeking a walkable coastal lifestyle. Lake Worth Beach is recognized for its historic character, active downtown district, municipal beach facilities, and accessibility to the broader Palm Beach County employment base.
Built in 1928 on a 0.16-acre parcel, the property contains approximately 4,072 square feet and was offered as an investment sale with six residential units. The combination of unit diversity, historic character, and proximity to downtown amenities creates an opportunity for investors seeking an income-producing multifamily asset in an established South Florida neighborhood. The property's location near local shopping, restaurants, and recreational attractions further supports its long-term appeal within the Lake Worth Beach rental market.
Property Facts
| Price | $1,495,000 | Apartment Style | Single-Family Home |
| Price Per Unit | $249,167 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.16 AC |
| Cap Rate | 4.84% | Building Size | 4,072 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 13.46 | No. Stories | 2 |
| No. Units | 6 | Year Built | 1928 |
| Property Type | Multifamily | Parking Ratio | 0.74/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | MF-20 - Low Density Multi - MF-20 - Low Density Multi-family ( 38-LAKE WORTH BEACH ) Historic district | ||
| Price | $1,495,000 |
| Price Per Unit | $249,167 |
| Sale Type | Investment |
| Cap Rate | 4.84% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 13.46 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 4,072 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1928 |
| Parking Ratio | 0.74/1,000 SF |
| Zoning | MF-20 - Low Density Multi - MF-20 - Low Density Multi-family ( 38-LAKE WORTH BEACH ) Historic district |
Amenities
Unit Amenities
- Ceiling Fans
Site Amenities
- Courtyard
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 38-43-44-21-15-088-0190 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $597,000 |
Property Taxes
Parcel Number
38-43-44-21-15-088-0190
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$597,000
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329 N K St