Highlights
• Total of 16 units: a 15-unit apartment building plus a single-family home on a 0.44-acre site. • Value-add offering from the family of the property's original developer. • Significant rent upside with all tenants month-to-month and current rents averaging $756. • Unit mix: 7 one-bed/one-baths, 8 two-bed/one-baths, and a two-bed/two-bath house. • Convenient access to Dixie Hwy (US-1), Palm Beach Lakes Blvd, and North Flagler Dr. • Walkable to Padel Club, CVS, The District at Northwood, and Good Samaritan Medical Center. • Close to Downtown West Palm Beach, CityPlace, the convention center, and Palm Beach Island.
Description
The Thomas Team of Marcus & Millichap is pleased to present 535–537 18th Street, a West Palm Beach offering that includes a 15-unit multifamily building along with a single-family home. The apartments were built in 1954 and feature seven one-bedroom/one-bath units and eight two-bedroom/one-bath units totaling 7,908 square feet, while the single-family residence, constructed in 1927, offers a two-bedroom/two-bath layout with 1,212 square feet. Situated on a 0.44-acre lot, the units are equipped with window and/or wall A/C units, terrazzo flooring, and electric appliances, with shared amenities including on-site laundry and 17 parking spaces. Ideally located at the southwest corner of A E Isaacs Avenue and 18th Street, the property provides convenient access to Federal Highway, Palm Beach Lakes Boulevard, and nearby retail, dining, and employment hubs. Residents benefit from proximity to notable destinations such as The Nora District, The District at Northwood, Good Samaritan Medical Center, CityPlace, The Kravis Center, and The Breakers. The neighborhood continues to see significant revitalization, with major mixed-use redevelopments shaping a more dynamic and walkable environment and driving increasing demand for rental housing. Nearby educational institutions include Roosevelt Elementary, Roosevelt Middle, Westward Elementary, and Palm Beach State College. The property is offered at $2,320,000, or $145,000 per unit.
Listing Details
- Cap Rate
1.4%
- Space Type
multifamily
- Sub Category
apartments-building
- Date Listed
12/3/2025
- Ownership Info
Fee Simple
- Investment Type
Value Add
- Net Operating Income
$32,443
Property Specifics
- Property Name
535 18th St
- Property Class
C
- No of Buildings
2
- No of Stories
2
- No of Units
16
- Year Built
1954
- Building Size
9,120 SF
- Lot Size
0.44 AC
- APN
74-43-43-16-16-010-0270
- Zoning
MF 14—Multifamily Low Density