Three-Unit Wood-Frame Income
3804 Miller Ave West Palm Beach, FL 33405
New
3804 Miller Ave, West Palm Beach, FL, 33405
$595,000
For Sale
$595,000
Wood-frame triplex with window unit air conditioning, featuring two one-bedroom units and one three-bedroom unit.
Property Size1,578 SF
Lot Size0.20 Acres
Price / SF$377.06
Days on Market2
Property Features for 3804 Miller Ave
General Information
- Standard status
- Active
- Size
- 1,578 SF
- Lot size
- 0.20 Acres
- Property subtype
- Investment
Building Details
- Year Built
- 1930
Listing agency
Home Sold Realty LLC
(833) 700-2782
Listed by
Camilo De la Cruz Perez · License #276535504
(833) 700-2782
Source
Elliman
Added: Jul 21 Updated: Jul 22 at 3:01AM Checked: Jul 22 at 3:01AM
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 Home Sold Realty LLC
Investment Insights
Based on property information with market context.
Built in 1930, this three-unit wood-frame income property totals 1,578 gross square feet on a 0.20-acre lot. The unit mix includes two one-bedroom, one-bathroom units and one three-bedroom, two-bathroom unit, supported throughout by window unit air conditioning. The low-density setup and larger lot contribute to a more residential feel, with space that may support outdoor enhancements.
Conveniently positioned in central West Palm Beach, the property provides access to Downtown West Palm Beach, I-95, and Palm Beach International Airport. Nearby employment hubs include Good Samaritan Medical Center and surrounding commercial corridors, with residents also benefiting from proximity to local retail, dining, and recreational options, including parks and Intracoastal waterfront attractions.
For investors or owner-occupants seeking a small multifamily structure with a blend of unit sizes, this triplex offers a practical configuration centered on straightforward residential layouts and on-unit HVAC.
Conveniently positioned in central West Palm Beach, the property provides access to Downtown West Palm Beach, I-95, and Palm Beach International Airport. Nearby employment hubs include Good Samaritan Medical Center and surrounding commercial corridors, with residents also benefiting from proximity to local retail, dining, and recreational options, including parks and Intracoastal waterfront attractions.
For investors or owner-occupants seeking a small multifamily structure with a blend of unit sizes, this triplex offers a practical configuration centered on straightforward residential layouts and on-unit HVAC.
Key Highlights
- Built in 1930 wood‑frame triplex with 1,578 total gross SF on a 0.20‑acre lot
- Window unit A/C throughout the building
- Unit mix includes two 1‑bedroom/1‑bath units and one 3‑bedroom/2‑bath unit
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.5k | $28.20 |
| − Vacancy | −$2.3k | −$1.47 |
| EGI | $42.2k | $26.73 |
| − OpEx | −$12.7k | −$8.02 |
| NOI | $29.5k | $18.71 |
1,578 SF · lease $28.20/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$421.9K
$369.1K – $492.2K
NOI $29,530 @ 7.0% cap · market cap 4.96%
Second Best
Apartment 5plus
$392.3K
$343.3K – $457.7K
NOI $27,464 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$1.11M
$972.4K – $1.30M
NOI $77,792 @ 7.0% cap · market cap 13.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
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FAQs
What type of property is this?
Triplex - Wood-frame triplex with window unit air conditioning, featuring two one-bedroom units and one three-bedroom unit.
Where is this triplex located?
The property is located at 3804 Miller Ave West Palm Beach, FL.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Built in 1930 wood‑frame triplex with 1,578 total gross SF on a 0.20‑acre lot; Window unit A/C throughout the building; Unit mix includes two 1‑bedroom/1‑bath units and one 3‑bedroom/2‑bath unit
