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 in total (currently 4) which have been gutted and preliminary plans drawn to show highest and best use. The planned units are listed below along with their renovated rent projections. Property needs full rehab. 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 PAPA. Buyer responsible for working with the city to convert to 5 units.
Sold for $499,000
$499,000
513 47th Street, West Palm Beach, FL 33407
8beds
2,625sqft
Single Family Residence
Built in 1942
5,256 Square Feet Lot
$1,274,000 Zestimate®
$190/sqft
$5,568 Estimated rent
Home value
$1,274,000
$1.03M - $1.57M
$5,568/mo
Zestimate® history
Owner options
List your home for rent
$5,568/mo
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$5,568/mo
Rent Zestimate®
Refinance and save
$3,456/mo
Est. payment
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$3,456/mo
Est. payment
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Zillow last checked:
Listing updated:
Listed by:
Jennifer B Kilpatrick 561-573-2573,
The Corcoran Group,
Lilia Banach 443-262-2534,
The Corcoran Group
Bought with:
Non Member, 276503012
Beaches MLS
Source: BeachesMLS,MLS#: R10929351
Originating MLS: BeachesMLS
Originating MLS: BeachesMLSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 5
- Full bathrooms: 5
- Main level bathrooms: 4
- Main level bedrooms: 7
Primary bedroom
- Description: Current gutted main home
- Level: Main
- Area: 132
- Dimensions: 12 X 11
Primary bedroom
- Description: Current gutted main home
- Level: Main
- Area: 132
- Dimensions: 12 X 11
Kitchen
- Description: Current gutted main home
- Level: First
- Area: 144
- Dimensions: 12 X 12
Kitchen
- Description: Current gutted main home
- Level: First
- Area: 144
- Dimensions: 12 X 12
Living room
- Description: Current gutted main home
- Level: First
- Area: 156
- Dimensions: 13 X 12
Living room
- Description: Current gutted main home
- Level: First
- Area: 156
- Dimensions: 13 X 12
Heating
- None
Cooling
- None
Appliances
- Laundry: Inside
Features
- Main Level Primary
- Flooring: Other
Interior area
- Total structure area: 2,625
- Total interior livable area: 2,625 sqft
Property
Features
- Levels: Two
- Stories: 2
- Entry location: Entry Level Living Area Y
- Waterfront features: None
Lot
- Size: 5,256 Square Feet
- Features: < 1/4 Acre
Details
- Parcel number: 74434304040200310
- Zoning: SF7(ci
- Special conditions: Listed As-Is
- Other equipment: None
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Other
- Property subtype: Single Family Residence
Materials
- Frame
Condition
- Resale,Fixer
- New construction: No
- Year built: 1942
Utilities & green energy
- Electric: 3 Phase
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Sewer Available, Water Available
Community & HOA
Community
- Subdivision: NORTH PALM BCH 1
HOA
- Has HOA: No
- Amenities included: None
Location
- Region: West Palm Beach
Financial & listing details
- Price per square foot: $190/sqft
- Tax assessed value: $374,737
- Annual tax amount: $7,238
- Date on market: 10/20/2023
- Cumulative days on market: 8 days
- Listing terms: Cash,Conventional
Price history
| Date | Event | Price |
|---|---|---|
| 12/8/2023 | Sold | $499,000$190/sqft |
Source:  BeachesMLS #R10929351 Report a problem | ||
| 11/2/2023 | Pending sale | $499,000$190/sqft |
Source: BeachesMLS #RX-10929358 Report a problem | ||
| 10/28/2023 | Contingent | $499,000$190/sqft |
Source: BeachesMLS #RX-10929358 Report a problem | ||
| 10/20/2023 | Listed for sale | $499,000+63.6%$190/sqft |
Source: BeachesMLS #RX-10929358 Report a problem | ||
| 8/3/2021 | Sold | $305,088-4.7%$116/sqft |
Source: Palm Beach BOR #21-170 Report a problem | ||
| 6/21/2021 | Pending sale | $320,000$122/sqft |
Source: BeachesMLS #RX-10688918 Report a problem | ||
| 3/30/2021 | Listed for sale | $320,000$122/sqft |
Source: BeachesMLS #RX-10688918 Report a problem | ||
| 3/25/2021 | Pending sale | $320,000$122/sqft |
Source: BeachesMLS #RX-10688918 Report a problem | ||
| 2/26/2021 | Contingent | $320,000$122/sqft |
Source: BeachesMLS #RX-10688918 Report a problem | ||
| 2/1/2021 | Listed for sale | $320,000+137%$122/sqft |
Source: BeachesMLS #RX-10688918 Report a problem | ||
| 3/29/2019 | Listing removed | $900 |
Source: Go Section8 Report a problem | ||
| 11/15/2018 | Listed for rent | $900+20% |
Source: Go Section8 Report a problem | ||
| 3/13/2017 | Listing removed | $750 |
Source: Go Section8 Report a problem | ||
| 2/22/2017 | Listed for rent | $750 |
Source: Go Section8 Report a problem | ||
| 7/20/2016 | Sold | $135,000-5.6%$51/sqft |
Source: Agent Provided Report a problem | ||
| 6/17/2016 | Price change | $143,000-6.2%$54/sqft |
Source: Owner Report a problem | ||
| 6/13/2016 | Price change | $152,500-3.2%$58/sqft |
Source: Owner Report a problem | ||
| 6/7/2016 | Price change | $157,500-0.3%$60/sqft |
Source: Owner Report a problem | ||
| 5/25/2016 | Price change | $158,000-5.4%$60/sqft |
Source: Owner Report a problem | ||
| 5/23/2016 | Listed for sale | $167,000$64/sqft |
Source: Owner Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $8,609 -10.6% | $374,737 -12% |
| 2024 | $9,626 +20.1% | $425,898 +28.4% |
| 2023 | $8,017 +10.8% | $331,577 +10% |
| 2022 | $7,238 +26.2% | $301,434 +42.1% |
| 2021 | $5,734 +6.9% | $212,122 +10% |
| 2020 | $5,363 +10.3% | $192,838 +10% |
| 2019 | $4,860 | $175,307 +6% |
| 2018 | $4,860 +16.9% | $165,317 +14.1% |
| 2017 | $4,156 +11% | $144,882 +31.2% |
| 2016 | $3,746 +23.3% | $110,415 +1.1% |
| 2015 | $3,037 +0.5% | $109,217 +10% |
| 2014 | $3,021 +20.4% | $99,288 +21% |
| 2012 | $2,510 -1.9% | $82,056 -1.8% |
| 2011 | $2,559 -5.6% | $83,576 -6.4% |
| 2010 | $2,711 -17.5% | $89,304 -24.9% |
| 2009 | $3,285 -24.4% | $118,863 -38% |
| 2007 | $4,346 +9.7% | $191,629 +20.7% |
| 2006 | $3,963 | $158,782 +15.2% |
| 2005 | -- | $137,810 +49.3% |
| 2004 | $1,411 +436.6% | $92,305 +21.6% |
| 2003 | $263 -87.7% | $75,938 |
| 2002 | $2,132 +2.3% | $75,938 +4.8% |
| 2001 | $2,085 +12.4% | $72,463 +14.7% |
| 2000 | $1,854 +35% | $63,153 +14.6% |
| 1999 | $1,373 | $55,117 |
Find assessor info on the county website
Neighborhood: Northwood Harbor
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Nearby schools
GreatSchools rating
- 4/10Northmore Elementary SchoolGrades: PK-5Distance: 0.6 mi
- 4/10John F. Kennedy Middle SchoolGrades: 6-8Distance: 2.5 mi
- 2/10Palm Beach Lakes High SchoolGrades: 9-12Distance: 3.1 mi
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Estimated market value
$1,274,000
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$1,274,000
- Florida
- Palm Beach County
- West Palm Beach
- 33407
- Northwood Harbor
- 513 47th Street
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