Modern Living Group
 Unit A,b,c
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$700,000ACTIVE

Unit A,b,c · 805 20th Street A,b,c, West Palm Beach, FL 33407

beds4baths2,716sq ft$258/ sq ft
THE RESIDENCE

About this home

Rare investment opportunity with a front single-family home (3/1, approx. 1,600 SF) and a two-story duplex in the rear. Duplex includes a 4/2 upstairs $2,000 per month lease expires 6/30/27. 3/1 downstairs $1,800 until April 2027. Front house leased for $2,400 month-to-month creating flexibility for rental increases or future redevelopment. Total rents up to $6,200 or more. Front home features A/C (2018), . Rear units include newer wall A/Cs and water heater (2016). Below-market rents provide built-in value-add. Drive-by only--please do not disturb tenants. According to the West Palm Housing Authority, market rates for a 3-bedroom unit are $2,590 and for a 4-bedroom unit are $3,130. Additional Features: Utilities: Three separate electric meters, one shared water meter (average $300 per month) Lawn care: Approximately $60 per month Investment Highlights: Immediate Upside: Rents are currently below market, with the opportunity to increase to align with West Palm Housing Authority rates, totaling $8,310 per month across all units. Strong Rental Demand: Close to employment hubs, Clematis Street, and major transit routes including I-95, Brightline, and Palm Beach International Airport. Area Revitalization: Northwood is undergoing significant redevelopment, leading to increasing property values and rental demand. Strategic Location: Steps from the Northwood Historic District, 1.8 miles from downtown West Palm Beach, and minutes from the Intracoastal. Why Invest Here? This property offers strong rental income potential, a prime location, and long-term appreciation, making it an excellent investment for steady cash flow and future growth. Whether you are looking to maximize rental income or owner-occupy a unit, this opportunity provides flexibility and potential in one of South Florida's most promising markets.

THE DETAILS

Property details

List Price$700,000
Price / Unit$233,333
Units3
Cap Rate8.97%
Gross Income$72,600/yr
Net Operating Income$62,800
Inside Sq Ft2,716
Year Built1929
FlooringVinyl
ZoningSF11(c
Property TypeTriplex
MLS #R11161477
StatusActive
Original List Price$700,000
GRM9.6
Tenant PaysCable TV, Electricity
Stories2
Lot Size0.13 acres
Show all details (5 more)
WaterfrontNo
Days on Market136
Annual Taxes$6,214
CityWest Palm Beach
Zip Code33407
LOCATION

Where you'll live

Tyler Melik
FEATURED AGENT
Tyler Melik
WPB Specialist
Real Estate Specialist

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