3063 Floweva Street A, Palm Springs, FL 33406
$1,300,000
Property Type:
Residential Income
Square Footage:
4,472
Lot Size (sq. ft.):
20,038
Status:
Active
Current Price:
$1,300,000
List Date:
8/13/2025
Last Modified:
3/11/2026
Description
****6-unit multifamily property in South Florida.**** CITY WATER** NO SEPTIC!!!!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 annua
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# R11115439
Contract Information
Comp Sale YN: No
Negotiable Seller Concessions YN: Yes
Listing Contract Date: 2025-08-13
Status: Active
Original List Price: 130000
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 Zip: 33406
Geographic Area: PB21
Country: United States
Street Number: 3063
Street Name: Floweva
Street Suffix: Street
Unit Number: A
State Or Province: FL
Postal Code: 33406
Subdivision Name: BRYANT PARK
Area: 5490
Parcel Number: 70434407010020121
Zoning: RM(cit
Directions: Congress to Floweva and go West to property
General Property Information
Living Area Main: 3940
Gated Community YN: No
Lot Size Area: 20032
Senior Community YN: No
Stories: 1
Pool Private YN: No
Property Sub Type: Quadruplex
Building Area Main: 4472
Building Area Source: Public Records
Year Built: 1956
Lot Size Acres: 0.46
Office/Member Information
DXORIGMLSID: RML
Association Amenities
None: 1
Exterior Features
None: 1
Flooring
Laminate: 1
Property Condition
Resale: 1
Short Sale Details
Short Sale Addendum: No
Documents Available
Other: 1
Meter Information
Separate Electric Meters YN: Yes
Separate Water Meters YN: No
Tenant Pays
Cable TV: 1
Electricity: 1
Possession
Negotiable: 1
Utilities
None: 1
Heating
Central Individual: 1
Water Access
None: 1
Construction Materials
Other: 1
Listing Terms
Cash: 1
Conventional: 1
Trade: 1
Roof
Composition: 1
Income and Expenses
Annual Total Expense: 24307
Gross Income: 108000
Net Operating Income: 83693
Source Of Expenses
Accountant Provided: 1
Cooling
Central Individual: 1
Showing Requirements
Appointment Only: 1
Call Listing Agent: 1
Text Listing Agent: 1
Storm Protection Details
None: 1
Tax Information
No Homestead: 1
Showing Details
Pet(s) on Premises: Yes
Unit 1 Details
Actual Rent: 1300
Baths Full: 1
Beds Total: 1
Furnished: Unfurnished
SqFt: 850
Unit 1 Other Equipment
Air Conditioning Unit: 1
Unit 1 Parking Features
Open Parking: 1
Unit 2 Details
Actual Rent: 1350
Baths Full: 1
Beds Total: 1
Furnished: Unfurnished
SqFt: 850
Unit 2 Other Equipment
Air Conditioning Unit: 1
Unit 2 Parking Features
Open Parking: 1
Unit 3 Details
Actual Rent: 1800
Baths Full: 1
Beds Total: 2
Furnished: Unfurnished
SqFt: 900
Unit 3 Other Equipment
Air Conditioning Unit: 1
Unit 4 Details
Actual Rent: 1750
Baths Full: 1
Beds Total: 2
Furnished: Unfurnished
SqFt: 900
Price Calculations
Current Price To SqFt: 329.94
Acreage Description
1/4 To Less Than 1/2 Acre Lot: 1
Financial Information
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: 2025-08-13T21:06:42Z
Major Change Type: Price Change
Price Change Timestamp: 2025-08-13T21:06:42Z
Status Change Date: 2025-08-13
Originating Details
Originating System Key: 20250815205553936595000000
Originating System ID: M00000170
Property Features
Association Amenities: None
Documents Available: Other
Exterior Features: None
Flooring: Laminate
Property Condition: Resale
Tenant Pays: Cable TV; Electricity
Source Of Expenses: Accountant Provided
Construction Materials: Other
Cooling: Central Individual
Heating: Central Individual
Listing Terms: Cash; Conventional; Trade
Possession: Negotiable
Roof: Composition
Storm Protection Details: None
Tax Information: No Homestead
Utilities: None
Water Access: None
Showing Requirements: Appointment Only; Call Listing Agent; Text Listing Agent
Unit 1 Other Equipment: Air Conditioning Unit
Unit 1 Parking Features: Open Parking
Unit 2 Other Equipment: Air Conditioning Unit
Unit 2 Parking Features: Open Parking
Unit 3 Other Equipment: Air Conditioning Unit
Acreage Description: 1/4 To Less Than 1/2 Acre Lot
Documents
Income Statement ›
Listing Office:
The Keyes Company
Last Updated: March - 11 - 2026
Broker Attribution:
561-577-0398
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