3063 Floweva St Palm Springs, FL 33406

This well-maintained multifamily property in South Florida features six units across three separate buildings on a single parcel. The front building is a triplex with two 1-bedroom, 1-bath units and one 3-bedroom, 1-bath unit. The rear duplex contains two 2-bedroom, 1-bath units, and there is also a standalone 1-bedroom, 1-bath cottage. Some units include private fenced backyards. One of the 1-bedroom, 1-bath units will be delivered vacant in June. Each unit is individually metered for electricity. The current gross rents total $9,000 per month, or $108,000 annually. Market rents are estimated at $1,600-$1,750 for 1-bedroom units, $1,900-$2,000 for 2-bedroom units, and $2,400+ for the 3-bedroom unit, offering a potential pro forma gross income of approximately $133,200 annually. Current lease terms and rents are as follows: 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 transition to month-to-month at expiration. Two on-site laundry machines are available for tenant use, generating additional passive income via refillable laundry card systems. The 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%+. The property is offered at $1,300,000 ($216,667 per unit).