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904 4th St - West Palm Beach | 4 Unit MF | 7.6% Cap Rate ! 4 Unit Apartment Building Offered at $950,000 at a 7.77% Cap Rate West Palm Beach, FL 33401
INVESTMENT HIGHLIGHTS
- 7.6%+ CAP Rate – Strong Turnkey Income-Producing Asset
- Prime Location – Steps from City Place, BrightLine, and Intracoastal Waterway.
- Updated Property – New Roof (2022) and Full Renovations (2023).
- Zoned NWD – Approved for 4 rental units on a 6,534 SF lot.
- Covered Land Play in the Path of Progress
- Flexible Layout – 3BR/1.5 BA, 5BR/2 BA, 1BR/1BA Guest House, and Studio/1BA cottage.
EXECUTIVE SUMMARY
Property Description
Exceptional Investment Opportunity in Prime West Palm Beach Location. This turnkey, income-producing property offers a rare chance to secure a 7.6%+ CAP rate in one of the fastest-growing areas of West Palm Beach. Zoned NWD and approved for four rental units, this property is strategically located just west of the highly anticipated NORA development, set for completion by late 2025. With close proximity to City Place, the BrightLine station, ocean beaches, Worth Avenue, and PBI Airport, this location is ideal for both short- and long-term tenants seeking convenience and lifestyle.
Versatile Multi-Unit Layout with Strong Rental Potential. The property spans a 6,534 SF lot and includes three separate structures comprising four approved rental units. The main house features a spacious 3-bedroom, 1.5-bath unit and a 5-bedroom, 2-bath unit, ideal for larger families or group rentals. Additionally, a charming 1-bedroom, 1-bath guest house and a cozy studio cottage provide flexible leasing options. Recent upgrades include a new roof in 2022 and comprehensive renovations completed in 2023, ensuring a modern and low-maintenance investment.
Fully Furnished and Ready for Immediate Income. Offered fully furnished and turnkey, this property is ready to generate income from day one. With its strong zoning, updated infrastructure, and prime location in the path of progress, it presents a compelling opportunity for investors seeking stable returns and long-term appreciation. Please respect tenant privacy—showings by appointment only.
Exceptional Investment Opportunity in Prime West Palm Beach Location. This turnkey, income-producing property offers a rare chance to secure a 7.6%+ CAP rate in one of the fastest-growing areas of West Palm Beach. Zoned NWD and approved for four rental units, this property is strategically located just west of the highly anticipated NORA development, set for completion by late 2025. With close proximity to City Place, the BrightLine station, ocean beaches, Worth Avenue, and PBI Airport, this location is ideal for both short- and long-term tenants seeking convenience and lifestyle.
Versatile Multi-Unit Layout with Strong Rental Potential. The property spans a 6,534 SF lot and includes three separate structures comprising four approved rental units. The main house features a spacious 3-bedroom, 1.5-bath unit and a 5-bedroom, 2-bath unit, ideal for larger families or group rentals. Additionally, a charming 1-bedroom, 1-bath guest house and a cozy studio cottage provide flexible leasing options. Recent upgrades include a new roof in 2022 and comprehensive renovations completed in 2023, ensuring a modern and low-maintenance investment.
Fully Furnished and Ready for Immediate Income. Offered fully furnished and turnkey, this property is ready to generate income from day one. With its strong zoning, updated infrastructure, and prime location in the path of progress, it presents a compelling opportunity for investors seeking stable returns and long-term appreciation. Please respect tenant privacy—showings by appointment only.
DATA ROOM Click Here to Access
- Operating and Financials
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 | $950,000 | Property Type | Multifamily |
| Price Per Unit | $237,500 | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 3,499 SF |
| Cap Rate | 7.77% | Average Occupancy | 100% |
| Gross Rent Multiplier | 9.84 | No. Stories | 2 |
| No. Units | 4 | Year Built/Renovated | 1925/2023 |
| Zoning | NWD - See attached Zoning Info | ||
| Price | $950,000 |
| Price Per Unit | $237,500 |
| Sale Type | Investment |
| Cap Rate | 7.77% |
| Gross Rent Multiplier | 9.84 |
| No. Units | 4 |
| Property Type | Multifamily |
| Lot Size | 0.15 AC |
| Building Size | 3,499 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1925/2023 |
| Zoning | NWD - See attached Zoning Info |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+1.5 | 1 | $2,300 | 1,100 |
| 5+2 | 1 | $3,350 | 1,650 |
| 1+1 | 1 | $1,600 | 456 |
1 1
Walk Score®
Very Walkable (73)
Bike Score®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 74-43-43-21-06-023-0020 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $392,411 |
PROPERTY TAXES
Parcel Number
74-43-43-21-06-023-0020
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$392,411
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904 4th St - West Palm Beach | 4 Unit MF | 7.6% Cap Rate !
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