3063 Floweva St Palm Springs, FL 33406
New
- Added:
- Apr 24, 2026
- Days on Market:
- 4
- Last Refresh:
- Apr 24 at 5:55 pm
Property Features for 3063 Floweva St
General Information
- Standard status
- Active
- Property subtype
- Commercial
Building Details
- Year Built
- 1956
Listing agent Michael J Johnston License #3342965 (561) 577-0398
Listing office (561) 577-0398
Listing date Apr 24, 2026
Source Elliman
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Michael J Johnston
Overview
South Florida Multifamily Investment Opportunity
This well-maintained multifamily property in South Florida features three separate buildings on one parcel. The property includes a front triplex with two 1-bedroom, 1-bathroom units and one 3-bedroom, 1-bathroom unit, a rear duplex with two 2-bedroom, 1-bathroom units, and a standalone 1-bedroom, 1-bathroom cottage. Some units include private fenced backyards. One of the 1-bedroom, 1-bathroom units will be delivered vacant in June. Each unit has an electric meter. The current gross rent is $9,000 per month, or $108,000 per year. 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%.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Palm Springs
- County
- Palm Beach
- State
- Florida
- Longitude
- -80.0892327
- Latitude
- 26.6485025
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Well-maintained 6-unit property with income and value-add potential.
Where is this apartment building located?
The property is located at 3063 Floweva St Palm Springs, FL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Significant Value‑Add Potential: Current rents are significantly below market, offering substantial upside.; High Pro Forma Cap Rate: Potential to achieve a 6.9%+ cap rate based on market rents.; Income‑Producing Asset: Stabilized 6‑unit multifamily property generating $9,000/month ($108,000/year) in gross rents.
