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940 Charles St
West Palm Beach, FL 33401
The Pineapple Park Residences · Multifamily Property For Sale
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3 Units
Investment Highlights
- Independent Entrances & Parking – Each unit has private access and ample off-street parking.
- Flexible Strategy – Ideal for continued STR operation, long-term leasing, or hybrid income approach.
- Turnkey Short-Term Rental Income – Fully renovated duplex units with modern finishes and private entrances.
- Immediate Operations – Furnishings convey, enabling investor to step in and operate immediately.
- Diversified Revenue Streams – STR duplex plus single-family home provides multiple cash flow opportunities.
- High-Demand Location – Minutes from Downtown WPB, CityPlace, Brightline station, and Palm Beach Island.
Executive Summary
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.
Property Facts
| Price Per Unit | $391,667 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Size | 2,632 SF |
| Cap Rate | 6.99% | No. Stories | 2 |
| No. Units | 3 | Year Built | 1959 |
| Property Type | |||
| Zoning | SF14—SINGLE FAMILY HIGH D | ||
| Price Per Unit | $391,667 |
| Sale Type | Investment |
| Cap Rate | 6.99% |
| No. Units | 3 |
| Property Type | |
| Apartment Style | Low-Rise |
| Building Size | 2,632 SF |
| No. Stories | 2 |
| Year Built | 1959 |
| Zoning | SF14—SINGLE FAMILY HIGH D |
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