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The Elite Group at Illustrated Properties
3063 Floweva Street Unit A, West Palm Beach, FL 33406
- $1,000,000
- List Price
- $1,000,000
Property Description
Excellent opportunity to acquire a fully occupied 6-unit multifamily investment property in South Florida, offered at $1,125,000 ($187,500 per unit). Situated on a 0.46-acre parcel, the property consists of three separate buildings: a front triplex (two 1BR/1BA and one 3BR/1BA), a rear duplex (two 2BR/1BA), and a standalone 1BR/1BA cottage. Each unit has its own electric meter, and several feature private fenced backyards. Two on-site laundry machines provide additional income. CURRENT RENTAL INCOME: $9,200/month or $110,400 annually, with 100% occupancy. Current Rent Roll: Unit A (1BR/1BA): $1,450 - Lease expires 9/30/2027 Unit B (1BR/1BA): $1,300 - Month-to-month Unit C (3BR/1BA): $1,500 - Month-to-month Unit D (1BR/1BA): $1,350 - Month-to-month Unit 3075 (2BR/1BA): $1,800 Newly Rented Pro forma gross income is approximately $133,200 annually. VALUE-ADD OPPORTUNITY: Three existing month-to-month tenants provide potential for future rental increases. Estimated market rents: 1BR $1,600-$1,750, 2BR $1,900-$2,000, and 3BR $2,500+, subject to market verification. Well-maintained property with strong existing income and potential for additional rental growth. Ideal for investors seeking immediate cash flow and long-term appreciation.
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Listing courtesy of The Keyes Company. Contact: 561-577-0398
All listings featuring the BMLS logo are provided by Beaches MLS Inc. Copyright 2026 Beaches MLS. This information is not verified for authenticity or accuracy and is not guaranteed. © 2026 Beaches Multiple Listing Service, Inc. All rights reserved.
Agent: Michael J Johnston | Email: michael@johnstonhometeam.com