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Recently Renovated Rent-Stabilized 4-Plex 518 Biscayne Dr 4 Unit Apartment Building For Sale West Palm Beach, FL 33401
Investment Highlights
- Future Upside: Historic Flamingo Park remains one of the most stable and appreciating neighborhoods in West Palm Beach
- Income Versatility: Ideal for a "house hack" (live in one unit and rent the others) or as a high-performing addition to a long-term rental portfolio.
- Urban Convenience: Minutes from Downtown West Palm Beach, Clematis Street, and The Square (formerly CityPlace) for world-class dining,& shopping
- Strong Rental Demand: Located in a high-density, high-demand historic district with a proven track record of consistent occupancy.
- Walker’s Paradise: Boasting a Walk Score of 84, you are just steps away from Bedner’s Farm Fresh Market, The New Park Place Retail Development & More
- Connectivity: Ideally situated for professionals and students. Minutes away from PB Atlantic University, PBC Courthouse, Brightline & The Airport
Executive Summary
STUNNING RENOVATION IN PROGRESS:
All 4 units have (or will have) totally renovated kitchens and bathrooms: (2 of the 4 units are done)
KITCHEN
1. New Cabinents & Cupboard
2. New Sink
3. New Samsung Oven
4. New Samsung Microwave
BATHROOM
1. New Vanity & Sink
2. New Shower
3. New Tile
OTHER IMPROVEMENTS:
1. Recent HVAC service on all 4 units
2. Roof is getting resealed
3. Back Patio Concrete Repair
4. Landscape Improvements
5. Fence Repair
___________________________________________________
OCCUPANCY & RENT
3 of the 4 units are currently occupied. All 3 rents are moderately below market which will transition to heavily below market once the renovations are complete.
___________________________________________________
The Flamingo Park 4-Plex in West Palm Beach offers an unbeatable location within walking distance to Konro (Michelin-Rated), Jeff Green Private School, the charming Antique Row district and the new Park Place retail development. Residents can enjoy the convenience of strolling to nearby dining, shopping, and cultural attractions, as well as easy access to the area's renowned arts district and the vibrant downtown area. With its proximity to these sought-after amenities, this property is a standout opportunity for multifamily/low-rise/garden investors seeking a prime investment in the heart of West Palm Beach.
All 4 units have (or will have) totally renovated kitchens and bathrooms: (2 of the 4 units are done)
KITCHEN
1. New Cabinents & Cupboard
2. New Sink
3. New Samsung Oven
4. New Samsung Microwave
BATHROOM
1. New Vanity & Sink
2. New Shower
3. New Tile
OTHER IMPROVEMENTS:
1. Recent HVAC service on all 4 units
2. Roof is getting resealed
3. Back Patio Concrete Repair
4. Landscape Improvements
5. Fence Repair
___________________________________________________
OCCUPANCY & RENT
3 of the 4 units are currently occupied. All 3 rents are moderately below market which will transition to heavily below market once the renovations are complete.
___________________________________________________
The Flamingo Park 4-Plex in West Palm Beach offers an unbeatable location within walking distance to Konro (Michelin-Rated), Jeff Green Private School, the charming Antique Row district and the new Park Place retail development. Residents can enjoy the convenience of strolling to nearby dining, shopping, and cultural attractions, as well as easy access to the area's renowned arts district and the vibrant downtown area. With its proximity to these sought-after amenities, this property is a standout opportunity for multifamily/low-rise/garden investors seeking a prime investment in the heart of West Palm Beach.
Data Room Click Here to Access
Financial Summary (Pro Forma - 2026) 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 |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) 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 | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Sale Type | Investment | Lot Size | 0.14 AC |
| No. Units | 4 | Building Size | 3,612 SF |
| Property Type | Multifamily | Average Occupancy | 75% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1925 |
| Building Class | C | ||
| Zoning | SF14-C2 - SF14-C2—HIST. SF HIGH DENSITY CONT. 2 (74-WEST PALM BEACH) | ||
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 3,612 SF |
| Average Occupancy | 75% |
| No. Stories | 2 |
| Year Built | 1925 |
| Zoning | SF14-C2 - SF14-C2—HIST. SF HIGH DENSITY CONT. 2 (74-WEST PALM BEACH) |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Hardwood Floors
- Refrigerator
- Range
- Yard
- Deck
- Den
- Double Pane Windows
- Lawn
- Patio
- Porch
- Vinyl Flooring
- Window Coverings
Site Amenities
- Bicycle Storage
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $2,600 | 900 |
| 2+1 | 2 | $2,800 | 900 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 74-43-43-28-06-019-0030 | Total Assessment | $755,531 (2025) |
| Land Assessment | $0 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
74-43-43-28-06-019-0030
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$755,531 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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Recently Renovated Rent-Stabilized 4-Plex | 518 Biscayne Dr
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