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The Northwest - 100% Reno - All 2br Units 618 6th St 8 Unit Apartment Building $2,500,000 ($312,500/Unit) 6.97% Cap Rate West Palm Beach, FL 33401
Investment Highlights
- Ideally located between the Nora District and City Place
- In Unit Washer and Dryer
- Off Street Parking
- 100% Renovated Units
- Impact windows
- Desireable Unit Mix 100% 2 bedrooms 1 bathroom
Executive Summary
The Northwest is fully renovated, eight-unit multifamily property located in West Palm Beach’s rapidly evolving Progressive Northwest District, one of the city’s most active redevelopment corridors. The property consists of eight spacious two-bedroom, one-bathroom residences, offering investors a turnkey asset with strong in place income, limited near-term capital needs, and long-term appreciation potential.
Ideally positioned less than one mile from the transformative NORA District, the property is surrounded by significant public and private investment and is ust minutes from Downtown West Palm Beach, CityPlace (The Square), Clematis Street, the West Palm Beach Waterfront, Brightline Station, Palm Beach Island, Interstate 95, and Palm Beach International Airport. This highly connected location places residents at the center of the city’s premier dining, shopping, entertainment, employment, and transportation destinations.
Ideally positioned less than one mile from the transformative NORA District, the property is surrounded by significant public and private investment and is ust minutes from Downtown West Palm Beach, CityPlace (The Square), Clematis Street, the West Palm Beach Waterfront, Brightline Station, Palm Beach Island, Interstate 95, and Palm Beach International Airport. This highly connected location places residents at the center of the city’s premier dining, shopping, entertainment, employment, and transportation destinations.
Property Facts
| Price | $2,500,000 | Building Class | C |
| Price Per Unit | $312,500 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 5,170 SF |
| Cap Rate | 6.97% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1968/2024 |
| Property Subtype | Apartment | Parking Ratio | 1.54/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | NWD-R-C1 | ||
| Price | $2,500,000 |
| Price Per Unit | $312,500 |
| Sale Type | Investment |
| Cap Rate | 6.97% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 5,170 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1968/2024 |
| Parking Ratio | 1.54/1,000 SF |
| Zoning | NWD-R-C1 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Heating
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | $2,113 | - |
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 74-43-43-21-06-012-0050 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $330,559 |
Property Taxes
Parcel Number
74-43-43-21-06-012-0050
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$330,559
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The Northwest - 100% Reno - All 2br Units | 618 6th St