3063 Floweva Street A, Palm Springs, FL 33406

MLS® ID: R11115439

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 Lease terms and current rents: 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 -