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Wade M. Berlin

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  4. 3063 Floweva Street A, Palm Springs, FL 33406
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3063 Floweva Street A
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PRICED AT ONLY: $1,300,000

Address: 3063 Floweva Street A, Palm Springs, FL 33406

Description

****6 unit multifamily property in South Florida.**** CITY WATER** NO SEPTIC!!!!The property consists of three separate buildings on one parcel: Front triplex with two 1 bed/1 bath units and one 3 bed/1 bath unit. Rear duplex with two 2 bed/1 bath units, and standalone 1 bed/1 bath cottage. Some units feature private fenced backyards, enhancing tenant appeal and retention. One of the 1 bed/1 bath units will be delivered vacant in June, allowing for immediate rental upside. Each unit has electric meter. Current gross rents $9,000/month or $108,000/year. Rents significantly below market, providing a strong value add. Market rent estimates: 1 bed units $1,600 $1,750, 2 bed units $1,900 $2,000, and 3 bed units $2,400+. Pro forma gross income is approximately $133,200 annua

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  • MLS#: RX-11115439 ( Quad Plex )
  • Street Address: 3063 Floweva Street A
  • Viewed: 1
  • Price: $1,300,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1956
  • Bldg sqft: 0
  • Days On Market: 17

Description

****6 unit multifamily property in South Florida.**** CITY WATER** NO SEPTIC!!!!The property consists of three separate buildings on one parcel: Front triplex with two 1 bed/1 bath units and one 3 bed/1 bath unit. Rear duplex with two 2 bed/1 bath units, and standalone 1 bed/1 bath cottage. Some units feature private fenced backyards, enhancing tenant appeal and retention. One of the 1 bed/1 bath units will be delivered vacant in June, allowing for immediate rental upside. Each unit has electric meter. Current gross rents $9,000/month or $108,000/year. Rents significantly below market, providing a strong value add. Market rent estimates: 1 bed units $1,600 $1,750, 2 bed units $1,900 $2,000, and 3 bed units $2,400+. Pro forma gross income is approximately $133,200 annua
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Features
Building and Construction
  • Absolute Longitude: 80.089199
  • Construction: Other
  • Exterior Features: None
  • Flooring: Laminate
  • Roof: Comp Shingle
  • Sqft Source: Tax Rolls
  • Sqft Total: 4472.00
  • Total Building Sqft: 3940.00
Property Information
  • Property Condition: Resale
  • Property Group Id: 19990816212116581394000000
Land Information
  • Lot Description: 1/4 to 1/2 Acre
  • Subdivision Information: None
Eco-Communities
  • Private Pool: No
  • Storm Protection: None
  • Waterfront Details: None
Utilities
  • Carport Spaces: 0.00
  • Cooling: Central Individual
  • Heating: Central Individual
  • Number Of Stories: 1.0
  • Separate Elec Meters: Yes
  • Separate Wtr Meters: No
  • Utilities: None
Finance and Tax Information
  • Homeowners Assoc: None
  • Income Expenses Annual Net Oper Inc: 83693.00
  • Income Expenses Annual Total Expense: 24307.00
  • Income Expenses Gross Operating Inc: 108000.00
  • Source Of Expenses: Accountant
  • Tax Year: 2024
Rental Information
  • Tenant Pays: Cable, Electric
Other Features
  • Avail Info: Other
  • Country: United States
  • Housing For Older Persons Act: No Hopa
  • Legal Desc: BRYANT PARK E 100 FT OF LTS 12 & 13 BLK B
  • Parcel Id: 70434407010020121
  • Possession: Funding
  • Zoning: RM(cit
Nearby Subdivisions
Anna Johns Estates In   Bryant Park   Meadow Park   None  
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  1. MLSID: RX-11065545
  2. Provided by The Keyes Company
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