940 Charles St - The Pineapple Park Residences 3 Unit Apartment Building Offered at $1,610,232 CAD at a 6.99% Cap Rate West Palm Beach, FL 33401

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.