What Are Apartment Buildings Worth in Palm Beach County, FL?
Apartment Buildings in Palm Beach County are trading around $173,000 per unit as of early-to-mid 2026, based on the closed sales I track. On a 24-unit apartment building that is roughly $4,152,000, before adjusting for your actual income and condition. Here is how that number is built and what moves it.
How the number is built
A buyer prices on income. I start with in-place rent, take off vacancy, then rebuild the expenses a lender will underwrite: taxes reset near 80 percent of the new price, insurance on today's replacement cost, management at 10 percent even if you self-manage, plus maintenance and reserves. What is left is net operating income, and at a 7 to 8.5 percent cap that is your value. Older, tighter-run buildings in strong submarkets hold the top of the range.
What moves your number in Palm Beach County
- In-place rents vs market rents.
- Expense load, especially insurance, which has climbed from ~$400 to ~$1,200 a unit since 2013.
- Vintage and deferred maintenance.
- Taxes reset at the sale, so today's low tax bill does not carry over.
Questions owners ask me
What is a apartment building worth per unit in Palm Beach County, FL?
Around $173,000 per unit on recent closed sales, though the real number turns on in-place income, expenses, and condition. Run your apartment building through the valuator at theaptking.com for a figure built on your own numbers.
What cap rate do apartment buildings trade at in Palm Beach County?
Roughly 7 to 8.5 percent, depending on vintage, unit mix, and expense load. The value is net operating income divided by that cap rate.
Should I sell my apartment building in Palm Beach County now?
That depends on your basis, your debt, and whether the income supports the price a buyer's lender will underwrite. I price apartment buildings to survive a buyer's lender, not to chase an asking number. Call 321-275-KING and I will walk your numbers with you.