3063 Floweva Street A, Palm Springs, FL 33406
$1,300,000
Property Type:
Commercial Sale
Square Footage:
3,940
Lot Size (sq. ft.):
20,038
Status:
Active
Current Price:
$1,300,000
List Date:
5/26/2025
Last Modified:
3/11/2026
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: Front triplex with two 1 bed/1 bath units and one 3 bed/1 bath unit. Rear duplex with two 2 bed/1 bath units, and standalone 1 bed/1 bath cottage. Some 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 electric meter. Current gross rents $9,000/month or $108,000/year. Rents significantly below market, providing a strong value-add. Market rent estimates: 1 bed units $1,600-$1,750, 2 bed units $1,900-$2,000, and 3 bed units $2,400+. Pro forma gross income is approximately $133,200 annual
Supplements: Lease terms and current rents: Unit A (1 bed/1 bath): $1,300/month - lease through 6/30/2025 (vacant in June) Unit B (1 bed/1 bath cottage): $1,300/month - lease through 9/30/2025 Unit D (1 bed/1 bath): $1,350/month - lease through 6/30/2025 Unit 3075 (2 bed/1 bath): $1,750/month - lease through 6/30/2025 Unit 3077 (2 bed/1 bath): $1,800/month - lease through 2/28/2026 Unit C (3 bed/1 bath): $1,500/month - lease through 6/30/2025 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 systemsno 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 $1,300,000 ($216,667 per unit). Income statement and rent role attached in MLS.
More Information MLS# R11093866
Contract Information
Comp Sale YN: No
Negotiable Seller Concessions YN: Yes
Listing Contract Date: 2025-05-26
Status: Active
Original List Price: 1300000
List Price: $1,300,000
Current Price: $1,300,000
Location and Legal
County Or Parish: Palm Beach
County Parish Name: Palm Beach
City Name: Palm Springs
Postal Code: 33406
Geographic Area: PB21
Property Description: MULTI-UNIT (SIX)
Country: United States
Street Number: 3063
Street Name: Floweva
Street Suffix: Street
Unit Number: A
State Or Province: FL
Area: 5490
Parcel Number: 70434407010020121
Zoning: RM(cit
Directions: Congress to Floweva and go West to property
General Property Information
Lot Size Area: 20037.6
Stories: 1
Property Sub Type: Multi Family
Building Area Main: 3940
Building Area Source: Public Records
Year Built: 1956
Lot Size Acres: 0.46
Currently Not Used
Number Of Units Total: 6
Office/Member Information
DXORIGMLSID: RML
Electric
Separate Meters: 1
Flooring
Ceramic Tile: 1
Property Condition
Resale: 1
Documents Available
Books & Records: 1
Copy Of Lease(s): 1
Meter Information
Number Of Meters Total: 6
Tenant Pays
Cable TV: 1
Electricity: 1
Location of Property
Subdivision: 1
Possession
Close Of Escrow: 1
Negotiable: 1
Sewer
Public Sewer: 1
Building and Property Details
# Of Tenants: 6
# Of Toilets: 6
% Air Conditioned: 100
Maximum Ceiling Height: 8
Business Type
Commercial: 1
Heating
Central: 1
Window/Wall: 1
Construction Materials
CBS: 1
Listing Terms
Cash: 1
Conventional: 1
Roof
Tar/Gravel: 1
Security Features
Fire Alarm: 1
Water Source
Public: 1
Income and Expenses
Gross Income: 108000
Gross Scheduled Income: 108000
Operating Expense: 24307
Source Of Expenses
Owner Provided: 1
Description of Unit Type 1
Unit Type: 1 Bedroom
Units Total: 1
Full Baths: 1
Annual Rent: 1300
Description of Unit Type 2
Unit Type: 1 Bedroom
Units Total: 1
Full Baths: 1
Annual Rent: 1300
Cooling
Central Air: 1
Wall/Window Unit(s): 1
Description of Unit Type 3
Unit Type: 1 Bedroom
Units Total: 1
Full Baths: 1
Annual Rent: 1350
Description of Unit Type 4
Unit Type: 2 Bedroom
Units Total: 1
Full Baths: 1
Annual Rent: 1750
Description of Unit Type 5
Unit Type: 2 Bedroom
Units Total: 1
Full Baths: 1
Annual Rent: 1800
Description of Unit Type 6
Unit Type: 3 Bedroom
Units Total: 1
Full Baths: 1
Annual Rent: 1500
Showing Requirements
Appointment Only: 1
Call Listing Agent: 1
Occupied: 1
Price Calculations
Current Price To SqFt: 329.94
Financial Information
Association Fee: 6
Association Fee Frequency: Annually
Tax Annual Amount: 12367.7
Tax Year: 2024
Tax Legal Description: BRYANT PARK E 100 FT OF LTS 12 & 13 BLK B
Status Change Information
Major Change Timestamp: 2025-05-26T22:26:08Z
Major Change Type: New Listing
Status Change Date: 2025-05-26
Originating Details
Originating System Key: 20250526220420114717000000
Originating System ID: M00000170
Property Features
Business Type: Commercial
Documents Available: Books & Records; Copy Of Lease(s)
Electric: Separate Meters
Flooring: Ceramic Tile
Heating: Central; Window/Wall
Location of Property: Subdivision
Possession: Close Of Escrow; Negotiable
Property Condition: Resale
Source Of Expenses: Owner Provided
Tenant Pays: Cable TV; Electricity
Construction Materials: CBS
Cooling: Central Air; Wall/Window Unit(s)
Listing Terms: Cash; Conventional
Roof: Tar/Gravel
Security Features: Fire Alarm
Sewer: Public Sewer
Water Source: Public
Showing Requirements: Appointment Only; Call Listing Agent; Occupied
Documents
Income Statement ›
Listing Office:
The Keyes Company
Last Updated: March - 11 - 2026
Broker Attribution:
561-577-0398
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