513 47th Street, West Palm Beach, FL 33407
- $499,000
- 4
- BA
- 2,625
- SqFt
- Sold Price
- $499,000
- List Price
- $499,000
- Days on Market
- 9
- Closing Date
- Dec 08, 2023
- MLS#
- R10929358
- Sq. Ft
- 2,625
- Lot Size
- 5,227
- Subtype
- Quadruplex
- County
- Palm Beach
- Subdivision
- North Palm Bch 1
- Year Built
- 1942
Property Description
Presenting a unique opportunity for an investor to acquire a strong cash flow asset with major value add opportunity. 513 47th Street is located in the Northwood neighborhood of West Palm Beach where there is a strong rental market and ever growing demand. This multifamily consists of 3 buildings, 5 possible units (currently 4) in total which have been gutted and preliminary plans drawn to show highest and best use. The proposed units are listed below along with their renovated rent projections. Full rehab is needed. The renovated property can generate $7,700 a month. That's a 10% CAP rate! Unit #1 650 SF 2/1 $1,700 Unit #2 650 SF 2/1 $1,700 Unit #3 650 SF 2/1 $1,700 Unit #4 275 SF Studio $1,200 Unit #5 400 SF 1/1 $1,400 Property currently classified as 4 units on Palm Beach County Tax Appraisers Website. Buyer responsible for working with the city to convert to 5 units. All information to be verified by buyer.
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Additional Information
- Construction
- Frame
- Cooling
- None
- Flooring
- Other
- Heating
- None
- Restrict
- NoRestrictions
- Roof
- Flat
- Taxes
- $7,238
- Utilities
- Sewer Available, Water Available
- Amenities
- None
- Waterfront
- None
- Stories
- 2
- Acres
- 0.12
- Price Per Sqft
- $190
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Listing courtesy of The Corcoran Group. Contact:
Selling Office: The Keyes Company - Stuart.
All listings featuring the BMLS logo are provided by Beaches MLS Inc. Copyright 2026 Beaches MLS. This information is not verified for authenticity or accuracy and is not guaranteed. © 2026 Beaches Multiple Listing Service, Inc. All rights reserved.
Agent: Jennifer B Kilpatrick | Email: jennifer.kilpatrick@corcoran.com