940 Charles St, West Palm Beach FL 33401

Description

Rare income-producing triplex in the highly 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, and Palm Beach Island, this property offers a turnkey investment opportunity in one of South Florida's fastest-growing markets. The front CBS duplex features two beautifully renovated short-term rental units with updated kitchens, modern finishes, private entrances, and furnishings included for immediate operation. Despite a three-month vacancy in 2025 during a unit conversion and introductory pricing, the duplex achieved 73-75% occupancy and generated over $77,000 in short-term rental revenue. The rear 2BD/1BA single-family home sits on its own driveway with a private entrance and single family feel, providing additional income and flexibility 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, with potential for up to 30% additional upside through occupancy optimization and unit repositioning. All three units feature independent entrances and ample off-street parking. With established income history, turnkey condition, and proximity to West Palm Beach's strongest lifestyle and employment centers, this property presents an exceptional investment opportunity with immediate cash flow and meaningful upside potential.