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527 48th St
West Palm Beach, FL 33407
Northwood Villas · Multifamily Property For Sale
·
4 Units
Investment Highlights
- Roof Replaced in 2025
- Central Air Conditioning Throughout
- Just 3 Miles from the Brightline and Tri-Rail Stations in West Palm Beach
- Located in the Rapidly Evolving Northwood District, East of Broadway
Executive Summary
Marcus & Millichap, as exclusive listing agents, are pleased to present Northwood Villas, a well-positioned multifamily investment opportunity located at 527 48th St in West Palm Beach, Florida. This 4-unit property, constructed in 1954 with concrete block construction, offers a total of 2,387 square feet on a 0.14-acre lot. The unit mix consists of one two-bedroom/one-bathroom unit and three one-bedroom/one-bathroom units, providing an attractive configuration for a diverse tenant base.
Northwood Villas is strategically located east of Broadway in a rapidly evolving submarket of West Palm Beach. The property stands to benefit significantly from the ongoing revitalization of the surrounding area, including transformative developments within the nearby Currie Mixed-Use District (CMUD). The CMUD is a compact, pedestrian-oriented, mixed-use district located between Currie Park to the east and the Northwood business district, designed to encourage development around Currie Park and the waterfront north of downtown. Notably, a high-end condominium project designed by Herzog & de Meuron is planned across from Currie Park at 2175 North Flagler Drive, approximately 1.5 miles south of the property. Additionally, the property is within close proximity to Downtown West Palm Beach, The Square, and the Flagler Financial District, offering tenants unparalleled access to premier dining, shopping, entertainment, and employment opportunities. The property's strategic location also provides convenient access to the Brightline West Palm Beach Station, located at 501 Evernia Street, approximately 3 miles south, connecting residents to Fort Lauderdale, Miami, and Orlando via high-speed rail.
Northwood Villas presents a compelling investment opportunity, offering investors the potential for both stable income and long-term appreciation. The property's location within a burgeoning market, combined with its solid construction and adaptable unit mix, positions it well to capitalize on the continued growth and development of the Northwood area and the broader West Palm Beach market.
Northwood Villas is strategically located east of Broadway in a rapidly evolving submarket of West Palm Beach. The property stands to benefit significantly from the ongoing revitalization of the surrounding area, including transformative developments within the nearby Currie Mixed-Use District (CMUD). The CMUD is a compact, pedestrian-oriented, mixed-use district located between Currie Park to the east and the Northwood business district, designed to encourage development around Currie Park and the waterfront north of downtown. Notably, a high-end condominium project designed by Herzog & de Meuron is planned across from Currie Park at 2175 North Flagler Drive, approximately 1.5 miles south of the property. Additionally, the property is within close proximity to Downtown West Palm Beach, The Square, and the Flagler Financial District, offering tenants unparalleled access to premier dining, shopping, entertainment, and employment opportunities. The property's strategic location also provides convenient access to the Brightline West Palm Beach Station, located at 501 Evernia Street, approximately 3 miles south, connecting residents to Fort Lauderdale, Miami, and Orlando via high-speed rail.
Northwood Villas presents a compelling investment opportunity, offering investors the potential for both stable income and long-term appreciation. The property's location within a burgeoning market, combined with its solid construction and adaptable unit mix, positions it well to capitalize on the continued growth and development of the Northwood area and the broader West Palm Beach market.
Property Facts
| Price Per Unit | $262,979 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 5.78% | Building Size | 2,387 SF |
| Gross Rent Multiplier | 9.85 | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1954 |
| Property Subtype | Apartment | Parking Ratio | 0.75/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | SF7-C4 - Single-Family Low-Density Residential | ||
| Price Per Unit | $262,979 CAD |
| Sale Type | Investment |
| Cap Rate | 5.78% |
| Gross Rent Multiplier | 9.85 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 2,387 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1954 |
| Parking Ratio | 0.75/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | SF7-C4 - Single-Family Low-Density Residential |
Amenities
Unit Amenities
- Air Conditioning
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | 450 |
| 2+1 | 1 | - | 722 |
Property Taxes
| Parcel Number | 74-43-43-04-04-021-0230 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $575,708 CAD |
Property Taxes
Parcel Number
74-43-43-04-04-021-0230
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$575,708 CAD
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