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3804 Miller Ave
West Palm Beach, FL 33405
Miller Avenue Apartments · Multifamily Property For Sale
·
3 Units
Investment Highlights
- Convenient access to Downtown West Palm Beach, I-95, and PBI Airport
- 3-unit property with a functional mix of (2) 1/1’s and (1) 3/2
- Strong demand drivers from nearby medical, retail, and employment centers
Executive Summary
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.
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.
Property Facts
| Price Per Unit | $198,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 6.54% | Building Size | 1,578 SF |
| Gross Rent Multiplier | 8.92 | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1930 |
| Property Subtype | Apartment | Parking Ratio | 2.53/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | MF20 | ||
| Price Per Unit | $198,333 |
| Sale Type | Investment |
| Cap Rate | 6.54% |
| Gross Rent Multiplier | 8.92 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 1,578 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1930 |
| Parking Ratio | 2.53/1,000 SF |
| Zoning | MF20 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 450 |
| 3+2 | 1 | - | 854 |
Property Taxes
| Parcel Number | 74-43-43-33-30-000-0600 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $326,182 |
Property Taxes
Parcel Number
74-43-43-33-30-000-0600
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$326,182
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