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409 4th Ave N 8 Unit Apartment Building $2,682,828 CAD ($335,354 CAD/Unit) 6.60% Cap Rate Lake Worth, FL 33460
Investment Highlights
- Desirable Downtown Location
- Well Maintained CBS Construction Building with a 2017 Roof and Central AC Systems
- Great Unit Mix with 8 Two Bedroom Two Bathroom Apartments
Executive Summary
RARE VALUE-ADD OPPORTUNITY IN DOWNTOWN LAKE WORTH! This is the high-upside multifamily deal you’ve been waiting for. Located at 409 4th Ave North, this two-story CBS building sits on a prime corner lot just off Federal Highway and only two blocks from Lucerne Ave, placing it squarely in one of Lake Worth’s strongest rental corridors. Property Highlights: 8 spacious 2BR/2BA apartments Below-market rents = immediate value-add potential Currently collecting $14,000/month with room to grow Owner utilities under $600/month (includes washers & dryers) Durable CBS construction with a 2017 gable roof (approx. 30-year service life) Updated plumbing and appliances Tenants love this walkable downtown pocket with easy access to major employment centers, schools, restaurants, bars, the beach, and the Town of Palm Beach. Strong fundamentals support both rent growth and long-term appreciation. Why This Deal Stands Out: Proven income with upside on rents Major capital items already addressed Efficient expense profile Desirable 2BR/2BA unit mix Quiet Corner lot with great access True value-add without heavy lift Stabilized today, scalable tomorrow. Opportunities to reposition an 8-unit this close to Lucerne Ave without major capital expenditure. These rare value-add assets in Downtown Lake Worth do not last.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$229,957
|
$32.12
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$229,957
|
$32.12
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $229,957 |
| Annual Per SF | $32.12 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $229,957 |
| Annual Per SF | $32.12 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Patio
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 8 | - | 750 |
1 1
Walk Score®
Walker's Paradise (90)
Bike Score®
Very Bikeable (83)
Property Taxes
| Parcel Number | 38-43-44-21-15-094-0080 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,642,458 CAD |
Property Taxes
Parcel Number
38-43-44-21-15-094-0080
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,642,458 CAD
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409 4th Ave N
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