1883 Smith Drive, North Palm Beach, FL 33408

This 1958 CBS quadruplex at 1883 Smith Drive in North Palm Beach comprises three studio apartments and one one-bedroom unit across 1,528 square feet under air on a 0.17-acre lot. The property is fully leased and configured for immediate cash flow with separately metered electric service through FPL.

This 1958 CBS quadruplex at 1883 Smith Drive in North Palm Beach comprises three studio apartments and one one-bedroom unit across 1,528 square feet under air on a 0.17-acre lot. The property is fully leased and configured for immediate cash flow with separately metered electric service through FPL.

Building & Unit Configuration

The four-unit structure features concrete block construction, a durable building envelope typical of mid-century Palm Beach County multifamily. Cooling is provided by individual wall and window units, keeping mechanical maintenance costs unit-specific. A shared laundry room serves all tenants on site.

Utilities & Operations

Each unit carries its own FPL meter, meaning tenants pay their own electric directly. The property operates on well water, eliminating municipal water bills from the operating expense line. These two factors materially reduce the owner's carrying costs relative to comparable small multifamily in the area.

Location & Access

Smith Drive sits within the village of North Palm Beach, a compact municipality bordered by the Intracoastal Waterway and Lake Worth Creek. Palm Beach State College's main campus is a short drive west, and US-1 provides direct north-south connectivity. The beach at Ocean Reef Park is roughly one mile east. Palm Beach International Airport is approximately 20 minutes south via I-95.

North Palm Beach's multifamily inventory is limited; the village is predominantly single-family residential with restrictive zoning, which constrains new rental supply and supports occupancy rates for existing units. Properties of this type rarely trade in this submarket.

Key Features

• Four-unit quadruplex: three studios and one one-bedroom
• CBS (concrete block and stucco) construction, built 1958
• Separate FPL meters for each unit
• Well water system (no municipal water expense)
• Shared on-site laundry room
• Garden views from units
• 0.17-acre lot in North Palm Beach village