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31457114
31457115

3804 Miller Ave, West Palm Beach, FL 33405

ER
FL FL SL3134745
Marcus & Millichap - Fort Lauderdale
CS
FL SL-3605832
Marcus & Millichap - Fort Lauderdale
DC
FL SL 3234051
Marcus & Millichap - Fort Lauderdale
Marcus & Millichap - Fort Lauderdale
Marcus & Millichap - Fort Lauderdale
Listed by Marcus & Millichap - Fort Lauderdale
$655,000
74 days on market
Updated 74 days ago

Miller Avenue Apartments

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 1,754
Net Rentable (SqFt) 1,754
Units 3
Cap Rate 5.43%
NOI $35,558
Occupancy 100%
Pro-Forma Cap Rate 6.03%
Pro-Forma NOI $39,474
Price per SqFt $373
Broker Co-Op Yes
Class C
Year Built 1930
Buildings 2
Stories 1
Acreage 0.200
Investment Type Value Add
Ownership Fee Simple

Triplex Near Downtown West Palm Beach

Marketing description

Marcus & Millichap is pleased to present Miller Avenue Apartments, a three-unit multifamily property located at 3804 Miller Avenue in West Palm Beach, Florida. Built in 1930, the property totals 1,578 gross square feet and is situated on a 0.20-acre lot. The building is of wood frame construction and features window unit air conditioning throughout.

The unit mix consists of two one-bedroom/one-bathroom units and one three-bedroom/two-bathroom unit, providing a balanced combination of smaller and larger floorplans that appeal to a diverse tenant base. The low-density layout and larger lot size offer a more residential setting with potential for outdoor space enhancements.

The property is ideally located in central West Palm Beach, with convenient access to Downtown West Palm Beach, I-95, and Palm Beach International Airport, as well as nearby employment hubs including Good Samaritan Medical Center and the surrounding commercial corridors. Residents also benefit from proximity to local retail, dining, and recreational amenities, including parks and waterfront attractions along the Intracoastal.

Miller Avenue Apartments presents an opportunity to acquire a well-located, boutique multifamily asset in a growing submarket with strong rental demand, offering both stable in-place income and long-term upside potential.

Investment highlights

  • Convenient access to Downtown West Palm Beach, I-95, and PBI Airport
  • Strong demand drivers from nearby medical, retail, and employment centers
  • 3-unit property with a functional mix of (2) 1/1’s and (1) 3/2

Listing Contacts

ER
FL FL SL3134745
Marcus & Millichap - Fort Lauderdale
CS
FL SL-3605832
Marcus & Millichap - Fort Lauderdale
DC
FL SL 3234051
Marcus & Millichap - Fort Lauderdale
Marcus & Millichap - Fort Lauderdale
Marcus & Millichap - Fort Lauderdale
Listed by Marcus & Millichap - Fort Lauderdale

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$35,558.00
$2,963.17/mo

Valuation Metrics

0
DSCR
5.43%
Cap Rate
5.43%
ROI

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Additional Information

Name
Evan Richardson
License
FL SL3134745
Name
Cory Sanchez
License
SL-3605832
Brokerage
Marcus & Millichap
Title
Associate
Brokerage Address
5900 North Andrews Avenue
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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