Multifamily in West Palm Beach, FL 33407Northwood Harbor, 513 47th St
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Closed
$499,000
2,625
SqFtStatus
Sold - Dec 08, 2023
Size
2,625 SqFt (244 m2)
Price
$190/SqFt ($2,046/m2)
Type
Multifamily
Built
1942
MLS Number
R10929358
On Site
1060 Days
Updated
39 Days ago
Page Views
0
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.
Features
Bedrooms
Bathrooms
Exterior and Lot Features
Interior, Heating and Cooling
- Heating Description: None
- Cooling Description: None
Building and Construction
- Floor Description: Other
- Year Built: 1942
Waterfront and Water Access
- Waterfront Frontage: No info
School Information
Other Property Info
- Listing Date: 2023-10-20T15:41:34.000-00:00
Taxes, Fees & More
- Taxes: 7238.12
- Total Units in Building: 4
- Total Units in Complex: 5
Apples-to-Apples Comparables
Price History
Date
Event
Price
Change
Price Per
02/13/2026
Listed
$499K
$190 ft2
$2,046 m2
02/13/2026
$499K
Event
Listed
Price Per
$190 ft2
$2,046 m2
Price per square foot and days on website are not provided values and are calculated by Subdivisions.
Listed by Jennifer Kilpatrick • The Corcoran Group • Buyer Agency Compensation .
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Scores
48
100
32
100
63
100
76
100
0
100
30
100
1
100
Community Snapshot
2 – 6 BR
Bedrooms
$449K – $1.8M
Price Tier
567 - 3,365
SqFt Range
1949
Year Build
1
Total Floors
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Northwood Harbor Communities in West Palm Beach, FL
Mid-Tier
Mid-Tier 1
Entry-Level
Entry-Level 1
Inactive Segment
Inactive Segment 1
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