Palm Springs Income
For Sale
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3783 Coconut Road, Palm Springs, FL 33461
Six units across two triplexes in Palm Springs, Florida.
Property Size5,544 SF
Lot Size0.95 Acres
Price / SF$214.65
Days on Market783
Property Features for 3783 Coconut Road
General Information
Standard status
Active
Size
5,544 SF
Lot size
0.95 Acres
Property subtype
Special Purpose
Building Details
Year Built
1978
Units
6
Listing Agency:
LoKation
Listed By:
Gary Graves
Source:
Crexi
Added: Aug 16, 2024
Changed: Sep 11
Last Checked: Oct 7 at 1:02PM
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 LoKation
Investment Insights
Based on property information with market context.
Located at 3783 Coconut Road, Palm Springs, FL 33461, this property presents an investment opportunity with 6 units situated within 2 triplexes. Each unit features spacious layouts, modern amenities, and ample natural light. The property includes a large communal yard, on-site parking, and updated interiors. The unit mix consists of two 3-bedroom, 2-bathroom units and four 2-bedroom, 2-bathroom units. The total property size is 5544 square feet on 0.95 acres. The location provides convenient access to schools, shopping, dining, major highways, and nearby attractions. Note that purchase requires being a 501c organization due to a Land Use Restriction Agreement on the property. This property is intended for rental income.
Key Highlights
- Investment opportunity: 6 units across 2 triplexes for rental income.
- Prime location: Close to schools, shopping, dining, and major highways.
- Spacious layouts with modern amenities and ample natural light in each unit.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,417
Cap Rate
7.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,848,340
$1.8M
Cap Rate 7%
$1,320,243
$1.3M
Cap Rate 9%
$1,026,856
$1.0M
Market Conditions
NOI Build-Up for 5,544 SF
Gross rent
$139.7K $25.20/SF
− Vacancy
−$7.7K −$1.39/SF
EGI
$132.0K $23.81/SF
− OpEx
−$39.6K −$7.14/SF
NOI
$92.4K $16.67/SF
Area
Palm Beach County, FL
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,848,340
Cap Rate 7%
$1,320,243
Cap Rate 9%
$1,026,856
Alternative Uses
Best Use
Multifamily LT 5
$1.32M
$1.16M – $1.54M
NOI $92,417 @ 7.0% cap · market cap 7.77%
Second Best
Apartment 5plus
$1.22M
$1.07M – $1.42M
NOI $85,263 @ 7.0% cap · market cap 7.16%
Theoretical Best
Office A
$3.90M
$3.42M – $4.56M
NOI $273,308 @ 7.0% cap · market cap 22.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,075
Businesses Nearby
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Business Placement
Demographics for 33461, FL
47,161
Population
18,095
Households
2.6
Avg Household Size
36
Median Age
17%
College-Educated
75%
High-School Grad
7.1 sq mi
ZIP Area
6,642
Density / Sq Mi
$61,218
Median Household Income
$31,503
Median Earnings
$1,615
Median Rent
$263,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Six units across two triplexes in Palm Springs, Florida.
Where is this triplex located?
The property is located at 3783 Coconut Road Palm Springs, FL.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: Investment opportunity: 6 units across 2 triplexes for rental income.; Prime location: Close to schools, shopping, dining, and major highways.; Spacious layouts with modern amenities and ample natural light in each unit.
