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Pedro Casanova

| The KREN Group | Keller Williams Premier Properties | PLACE

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3063 Floweva Street A , West Palm Beach, FL 33406
$1,150,000
Est. Payment: $5,804.14/mo
0 Bed
0 Bath
2460 Sqft
Status: active | Days on site: 47
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VCR-C15903466 - VCR-C159091383,VCR-C159052275

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House Description

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

Highlights

Listed by Michael J Johnston , 561-577-0398 The Keyes Company , 561-220-0550. REALTOR Association of Greater Miami and the Beach

Property Type

Commercial Sale

Lot/Acreage
0.46

Year Built

1956

County

Palm Beach

Area

5490

Listing ID

B26022317

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:0
  • Full Bathrooms:
Air Cond:Central Air,Wall/Window Unit(s)
Fireplaces:
Floor:Ceramic Tile
Other:Public

Exterior Features

Lot:<1 Acre,1/4 to 1/2 Acre Lot
Garage Capacity:10
Zoning:RM (city)
Roof:Tar/Gravel
Sewer:Public Sewer
Parking Features:Common
Principal Interest
$5,804
Taxes
$1,099

Home Price

$1,150,000

Loan Details

30 yrs
6.482%

Down Payment

20%
$230,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$5,804.14

Principal

Taxes

Principal Taxes HOA Total
Monthly $5,804.14 $1,098.58 $0.00 $6,902.72
Yearly $69,649.67 $13,183.00 $0.00 $82,832.67
Total $2,089,490.18 $395,490.00 $0.00 $2,484,980.18

Today's Rates

30 Year

6.48%

20 Year

6.26%

15 Year

5.94%

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Market insight data is pulled from the same city as the listing being viewed (West Palm Beach, FL).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Information provided by REALTOR Association of Greater Miami and the Beach, and is deemed reliable but not guaranteed accurate.

IDX service by Blueroof 360

Data last updated: 2026-08-02T03:56:26.000Z

© 2026 REALTOR Association of Greater Miami and the Beach