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Fully Occupied Value-Add 4-Plex 518 Biscayne Dr 4 Unit Apartment Building $1,700,000 ($425,000/Unit) 4.47% Cap Rate West Palm Beach, FL 33401
INVESTMENT HIGHLIGHTS
- Michelin Star Dining at Your Doorstep: Just a short stroll away is the crown jewel of the area's recent development—Konro
- High walkability to local markets, cafes, and the Intracoastal Waterway.
- You are walking distance to the Grandview Public Market for casual bites, the Norton Museum of Art for culture, and the boutique shops of The Square
- Located less than 10 minutes from Palm Beach International Airport (PBI) and the pristine beaches of Palm Beach Island
EXECUTIVE SUMMARY
The "Park Place" Renaissance
The true value of this property lies in its location, just moments from the exploding culinary and cultural scene of the Park Place corridor. This specific pocket of the neighborhood has recently transformed into a destination for the elite food scene.
This West Palm Beach 4-plex has been meticuously maintained by the owner, with many improvements and repairs over the last 7 years of their ownership, including but not limited to: brand new floors in 3 units, brand new cabinents in 3 of the units, added a new full kitchen to another unit, foundation repairs and more.
3 of the 4 units are paying below market rents creating an opportunity for an immediate addition of +$15k per year of pre-tax cash flow.
The true value of this property lies in its location, just moments from the exploding culinary and cultural scene of the Park Place corridor. This specific pocket of the neighborhood has recently transformed into a destination for the elite food scene.
This West Palm Beach 4-plex has been meticuously maintained by the owner, with many improvements and repairs over the last 7 years of their ownership, including but not limited to: brand new floors in 3 units, brand new cabinents in 3 of the units, added a new full kitchen to another unit, foundation repairs and more.
3 of the 4 units are paying below market rents creating an opportunity for an immediate addition of +$15k per year of pre-tax cash flow.
FINANCIAL SUMMARY (ACTUAL - 2025) 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 - 2025) 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 | $1,700,000 | Apartment Style | Low-Rise |
| Price Per Unit | $425,000 | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 3,612 SF |
| Cap Rate | 4.47% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1925/2025 |
| Property Subtype | Apartment | ||
| Zoning | SF14-C2 - SF14-C2—HIST. SF HIGH DENSITY CONT. 2 (74-WEST PALM BEACH) | ||
| Price | $1,700,000 |
| Price Per Unit | $425,000 |
| Sale Type | Investment |
| Cap Rate | 4.47% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Lot Size | 0.14 AC |
| Building Size | 3,612 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1925/2025 |
| Zoning | SF14-C2 - SF14-C2—HIST. SF HIGH DENSITY CONT. 2 (74-WEST PALM BEACH) |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Washer/Dryer
- Heating
- Kitchen
- Hardwood Floors
- Yard
- Lawn
SITE AMENITIES
- Bicycle Storage
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | 900 |
Walk Score®
Very Walkable (86)
PROPERTY TAXES
| Parcel Number | 74-43-43-28-06-019-0030 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $755,531 |
PROPERTY TAXES
Parcel Number
74-43-43-28-06-019-0030
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$755,531
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Fully Occupied Value-Add 4-Plex | 518 Biscayne Dr
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