Property 3063 Floweva Street A, West Palm Beach, FL 33406 for sale with MLS# B26022317
Excellent opportunity to acquire a well-maintained 6-unit multifamily property in South Florida. The property consists of three separate buildings on one parcel: a front triplex with two 1 bed/1 bath units and one 3 bed/1 bath unit, a rear duplex with two 2 bed/1 bath units, and a standalone 1 bed/1 bath cottage. Several units feature private fenced backyards, enhancing tenant appeal and retention. One of the 1 bed/1 bath units will be delivered vacant in June, allowing for immediate rental upside. Each unit has it's own electric meter. Current gross rents total $8,900 /month or $106,800/year. Rents are significantly below market, providing a strong value-add opportunity. Market rent estimates: 1 bed units $1,600-$1,750, 2 bed units $1,900-$2,000, and 3 bed units $2,500+. Pro forma gross income is approximately $133,200 annually. Lease terms and current rents: Unit A (1 bed/1 bath): $1,300/month - Month to Month at Will Unit B (1 bed/1 bath cottage): $1,300/month - Month to Month at Will Unit C (3 bed/1 bath): $1,500/month - Month to Month at Will Unit D (1 bed/1 bath): $1,350/month - Month to Month at Will Unit 3075 (2 bed/1 bath): $1,650/month - lease through 10/31/2026 Unit 3077 (2 bed/1 bath): $1,800/month - lease through 3/31/2027 All leases transitioning to month-to-month at expiration for added flexibility. Two on-site laundry machines are available for tenant use, generating additional passive income via refillable laundry card systems-no coin collection required. Property is in overall good condition with no major deferred maintenance. At the current income level, the property operates at a cap rate of approximately 5.3%. Based on market rents, the pro forma cap rate increases to approximately 6.9%+. This is an excellent opportunity to acquire a stabilized income-producing asset with immediate upside potential in a highly desirable rental market. Offered at $1,125,000 ($187,500 per unit). Rent role attached in MLS. Total monthly rent = $8,900/month Annualized = $8,900 × 12 = $106,800/year
3063 Floweva Street A, West Palm Beach, FL 33406
- Price:
- $1,150,000.00
- Original List Price:
- $115,000.00
- Gross Scheduled Income:
- 108000
- Tenant Pays:
- Cable Tv
- Listing Type:
- For Sale
- Status:
- Active
- Special Sale Conditions:
- Standard
- Business Type:
- Commercial
- Listing Category:
- Commercial Sale
- Property Type:
- Multi Family
- Description of Last Important Update:
- Price Change
- Last Major Update on:
- May 1, 2026 1:56 pm
- Built-Up Area:
- 2,460 Sqft
- Lot Area:
- 20,032 Sqft
- Building Area Source:
- Public Records
- Lot Size Acres:
- 0.46
- Security:
- Fire Alarm
- Air Conditioning
- Air Conditioning System:
- Central Air, Wall/window Unit(s)
- Heating
- Heating System:
- Central, Window/wall
- Year Built:
- 1956
- Roof:
- Tar/gravel
- Number of Units Total:
- 6
- Construction Materials:
- CBS
- Flooring:
- Ceramic Tile
- Number of stories:
- 1
- Stories:
- 1
- Flood Zone Code:
- AE,X
- Property Condition:
- Resale
- Tax Annual Amount:
- $13,183.27
- Tax Year:
- 2025
- Association Fee Frequency:
- Annually
- Parking Total Spaces:
- 10
- Parking Features:
- Common
- Sewer:
- Public Sewer
- Electric:
- Separate Meters
- Utilities Available:
- Cable Available
- Water Source:
- Public
- Senior Community:
- No
- Documents Available:
- Books & Records, Copy Of Lease(s)
- Listing Terms Considered by Seller:
- Cash, Conventional
- Buyer Possession:
- Negotiable, Close Of Escrow
- Negotiable Seller Concessions
- Tax Legal Description:
- BRYANT PARK E 100 FT OF LTS 12 & 13 BLK B
- Real Estate Folio Number (Parcel Number):
- 70434407010020121
- Zoning:
- RM (city)
- Active on the market since:
- April 30, 2026
- Listing Agreement executed on:
- April 30, 2026
- Price change occurred on:
- May 1, 2026 1:56 pm
- Listing Status Last Changed On:
- April 30, 2026 6:52 pm
- Photos updated on:
- April 30, 2026 6:52 pm
- Last Modified:
- September 17, 2026 9:07 pm
- Courtesy of:
- The Keyes Company
- Attribution:
- 561-577-0398
- Street Name:
- Floweva
- Street Number:
- 3063
- Unit Number:
- A
- City:
- West Palm Beach
- State:
- Florida
- Zip Code:
- 33406
- County:
- Palm Beach
- Latitude:
- N26° 38' 55.1''
- Longitude:
- W81° 54' 38.9''
- Street Suffix:
- Street
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Neighborhood Stats
Source: U.S. Census Bureau, ACS 5-Year Estimates
Ver la propiedad 3063 Floweva Street A, West Palm Beach, FL 33406
