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$115,000

For Sale

3 hours ago

A - 3063 Floweva St, Palm Springs, FL

House

MLS® B26022317

0 Bed

0 Bath

10 Parking

Key Facts
Description
Map

Key Facts

Type Multi Family

Levels Commercial Sale

Size -

Garage

Taxes $13,183

Days Active 0

Lot Size

Approx. Age 1956

MLS® Number B26022317

Property Address: a-3063 Floweva St, Palm Springs, FL, 33406-6683

Average square foot calculated using Size range provided by listing agent.

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

MLS® NumberB26022317

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age1956

Basement

DrivewayCommon

Garage Spaces

Heat

A/C

Heating Fuel

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Apr 30, 2026List Date

$115,000List Price

Commute

Commute

Starting Address

Destination Address

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