940 Charles St - Multi-Family FOR SALE


West Palm Beach, FL 33401
$1,175,000 USD
561-294-8335
940 Charles St, West Palm Beach, FL for Sale
$1,175,000 USD
Multi-Family - FOR SALE
1/25
null | 6.99% Cap Rate

940 Charles St
West Palm Beach, FL 33401


HIGHLIGHTS

  • Independent Entrances & Parking – Each unit has private access and ample off-street parking.
  • Immediate Operations – Furnishings convey, enabling investor to step in and operate immediately.
  • Flexible Strategy – Ideal for continued STR operation, long-term leasing, or hybrid income approach.
  • Diversified Revenue Streams – STR duplex plus single-family home provides multiple cash flow opportunities.
  • Turnkey Short-Term Rental Income – Fully renovated duplex units with modern finishes and private entrances.
  • High-Demand Location – Minutes from Downtown WPB, CityPlace, Brightline station, and Palm Beach Island.

OVERVIEW

Rare income-producing triplex in the sought-after Pineapple Park neighborhood of West Palm Beach. Situated on an oversized 9,647 SF lot just minutes from Downtown West Palm Beach, CityPlace, the Brightline station, Palm Beach Island, and some of the area’s best dining, shopping, and entertainment, this property offers a turnkey opportunity in one of South Florida’s most dynamic and rapidly growing markets. The front CBS duplex features two fully renovated short-term rental units with updated kitchens, modern finishes, and private entrances. Both units have demonstrated strong performance with 73–75% occupancy in 2025 and over $77,000 in combined short-term rental revenue. The rear 2BD/1BA single-family home provides additional income and flexibility, making the property ideal for investors seeking diversified revenue streams or an owner-operator looking to offset expenses. In total, the property generated over $102,000 in gross income in 2025, supported by strong rental demand driven by West Palm Beach’s continued growth as a destination for residents, visitors, and relocating professionals. All units offer independent entrances and ample off-street parking, and furniture and furnishings in the short-term rental units convey, creating a turnkey investment ready for immediate operation.

FOR SALE DETAILS

PRICE

$1,175,000 USD

PRICE/SF

$446 USD /SF

# OF UNITS

3

PRICE/UNIT

$391,667

CAP RATE

6.99%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Pineapple Park Residences

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1959

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

SF14—SINGLE FAMILY HIGH D

APN/PARCEL ID

74-43-43-28-15-005-0120

ASK ABOUT THIS PROPERTY

Luke Mauger, P.A.BAWONS PropertiesMore Info
561-294-8335

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Luke Mauger, P.A.BAWONS PropertiesMore Info
561-294-8335

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.