3063 Floweva Street # A, West Palm Beach FL 33406

Commercial For Sale

$1,150,000

BTC: 17.69230769

ETH: 604.42332759

93 days

For Sale

Commercial

0 room(s) •

Overview

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

Location

Florida • West Palm Beach • 33406 • Commercial • For Sale

Details

Type:

Commercial Sale

Parking:

Common

Year Built:

1956

Lot:

0.46 Acres

Heating:

Central / Window/Wall

Price/sqft:

No Data

Cooling:

Central Air / Wall/Window Unit(s)

HOA:

No Data

Type:

Commercial Sale

Parking:

Common

Year Built:

1956

Lot:

0.46 Acres

Heating:

Central / Window/Wall

Price/sqft:

No Data

Cooling:

Central Air / Wall/Window Unit(s)

HOA:

No Data

Private inquiry

Talk to the advisor on this listing.

Floor plans, HOA docs, off-market comparables, scheduling a private showing — one message, direct to the local specialist.

Valuation

Our model vs. what's actually selling nearby.

Estimate

$895,000

$600K – $3.5M

Confidence Low

List vs. estimate

$255K above estimate

List $1,150,000 · +28.5%

Our model says this listing is priced above recent comparable activity. Room to negotiate.

Based on

11 MLS comparables

+ 30 public-records sales within 0.5 mi

Median actual sale: $375K

Median of recent comparable listings. Sold comps use closing price, active listings use list price.

Highlights

Annual tax

$13,183

2025

Parking

10 spaces

All facts and features

Flooring

• Ceramic Floor

Heating

• Central

• Window/Wall

Cooling

• Central Air

• Wall/Window Unit(s)
Parking

• Common

Property

• Levels: 1

Lot

• Lot: 0.46 Acres

Other Property Information

• Parcel Number: 70434407010020121

• Zoning: RM (city)
Type and style

• Property Type: Commercial Sale

• Property Sub Type: Multi Family
Utility

• Cable Connected

• Cable Available
Other financial information

• HOA Frequency: Annually

• Annual tax amount: $13,183
Source details

• MLS ID: B26022317

Other facts

• Construction Materials: CBS Construction

• Lot Features: 1/4 To Less Than 1/2 Acre Lot / Less Than 1 Acre

• Water Source: Public

Private inquiry

Talk to the advisor on this listing.

Floor plans, HOA docs, off-market comparables, scheduling a private showing — one message, direct to the local specialist.

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The multiple listing information is provided by the Miami Association of REALTORS® from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026-present Miami Association of REALTORS®. All Rights Reserved. The information provided is for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Listing courtesy of: The Keyes Company

3063 Floweva Street # A, West Palm Beach FL 33406

Overview

Location

Details

Valuation

Highlights

Interior details

Property details

Construction details

Utilities / Green Energy Details

HOA and Financial Details

Other

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