126 N Palmway, 1-3 1-3, Lake Worth Beach, FL 33460
$1,400,000
Property Type:
Residential Income
Square Footage:
2,200
Status:
Active
Current Price:
$1,400,000
Last Modified:
11/23/2025
Description
Turnkey Triplex in Parrot Cove - Live Downstairs, Rent Upstairs for Income or Rent Units as Airbnb!
Prime location in Lake Worth Beach's coveted Parrot Cove / Historic Lucerne District—just half a block to downtown, one block to the Intracoastal, and a 10-minute walk to the beach and pier. Fully renovated triplex featuring a 3BD/2BA first-floor residence with private backyard, quartz countertops, stainless/gas-griddle kitchen, impact windows/doors, newer roof, engineered flooring, central HVAC, covered patio, BBQ area, W/D, 1-car garage, carport + private parking.
Two 1BD/1BA income units upstairs each offer private entrances, W/D, porcelain floors, stainless appliances and dedicated parking—ideal for long-term, seasonal, or Airbnb rentals.
Supplements: Walkable coastal lifestyle: boat and jet ski launch nearby, kayak/canoe/paddleboard launch within a few blocks, Bryant Park for dog owners, shops, cafés and waterfront dining minutes away. The Lake Worth Beach Golf Club (½ mile away) offers walkable access to an Intracoastal-front 18-hole course with clubhouse dining. Major downtown revitalization includes the 1925 Gulfstream Hotel restoration, featuring 90 restored rooms + 50 new rooms, 85 apartments, rooftop restaurant, pool, spa/fitness center and a 273-space garageboosting long-term area values. Adding to the excitement, Vanilla Ice's upcoming brewery, rooftop bar, speakeasy and pop-culture museum at 1000 Lake Ave is in development with an anticipated 2026 opening, enhancing the city's entertainment and tourism draw. Additionally, WMODA (Wiener Museum of Decorative Arts) is planning a major mixed-use cultural complex in downtown Lake Worth Beach, including museum space, arts programming and new residential condosfurther strengthening long-term property values. Turnkey residence + strong income potential just steps from everything Lake Worth Beach offers. All information deemed reliable but not guaranteed.
More Information MLS# RX-11142951
Contract Information
Auction: No
List Price/SqFt: 636.36
Negotiable Seller Concessions YN: Yes
Listing Date: 2025-11-18
Status: Active
Original List Price: 1400000
List Price: $1,400,000
Current Price: $1,400,000
General Property Description
Structure Type: Triplex
Total # of Units: 3
Property Condition: Resale
Lot Dimensions: 50.0 ft x 135.0 ft
Number of Stories: 2
SqFt - Total: 2696
Waterfront: No
SqFt Source: Floor Plan
Gated Community: No
Homeowners Assoc: None
Pets on Premises: No
HOA/POA/COA (Monthly): 0
Directions: Take Lake Worth Avenue East to N Palmway, go left into Historic District. Property is on the right.
Private Pool: No
Spa: No
Separate Elec Meters: Yes
Separate Wtr Meters: Yes
Type: Triplex
Year Built: 1950
SqFt - Living: 2200
Subdivision: LAKE WORTH TOWN OF
Lot SqFt: 6750
Location, Tax & Legal
Geo Area: PB16
Country: United States
State/Province: FL
HOPA: No Hopa
Short Sale: No
Tax Year: 2025
Zoning: MF-20
Short Sale A/U: N/A
Elementary School: North Grade Elementary School
Short Sale Addendum: No
Taxes: 16967
Middle School: Lake Worth Community Middle
Multiple Ofrs Acptd: Yes
Special Assessment: No
High School: Lake Worth High School
REO: No
Area: 5600
County: Palm Beach
Parcel ID: 38434421150320070
Street #: 126
Street Dir: N
Street Name: Palmway
Unit #: 1-3
Zip Code: 33460
Legal Desc: TOWN OF LAKE WORTH LT 7 BLK 32
Geo Lat: 26.617401
Geo Lon: -80.050154
Office/Member Info
DXORIGMLNO: RX-11142951
DXORIGMLSID: RML
Unit 1 Info
Bedrooms: 3
Full Bath: 2
Furnished: No
SqFt: 1200
Monthly Income: 2800
Lease Ends: 2026-01-31
Unit 2 Info
Bedrooms: 1
Full Bath: 1
Furnished: No
SqFt: 500
Monthly Income: 1550
Lease Ends: 2026-12-31
Unit 3 Info
Bedrooms: 1
Full Bath: 1
Furnished: No
SqFt: 500
Monthly Income: 1550
Lease Ends: 2026-11-30
Income & Expenses
Gross Operating Inc: 70800
Source of Expenses
Books: 1
Owner: 1
Tax Return: 1
Avail Info
Leases: 1
Construction
CBS: 1
Concrete: 1
View
Other: 1
Waterfront Details
None: 1
Lot Description
< 1/4 Acre: 1
Cooling
Central Individual: 1
Electric: 1
Unit 1 Desc
A/C Unit: 1
Dishwasher: 1
Disposal: 1
Dryer: 1
Electric Meter: 1
Kitchen: 1
Laundry: 1
Microwave: 1
Range - Gas: 1
Refrigerator: 1
Washer: 1
Patio: 1
Heating
Central Individual: 1
Tenant Pays
Cable: 1
Electric: 1
Gas: 1
Water: 1
Exterior Features
Auto Sprinkler: 1
Covered Patio: 1
Open Porch: 1
Room for Pool: 1
None: 1
Unit 1 Parking
Carport - Attached: 1
Garage - Attached: 1
Unit 2 Desc
A/C Unit: 1
Dishwasher: 1
Disposal: 1
Dryer: 1
Electric Meter: 1
Kitchen: 1
Laundry: 1
Microwave: 1
Refrigerator: 1
Washer: 1
Flooring
Ceramic Tile: 1
Vinyl Floor: 1
Unit 2 Parking
Space Parking: 1
Utilities
Electric: 1
Gas Natural: 1
Unit 3 Desc
A/C Unit: 1
Dishwasher: 1
Disposal: 1
Dryer: 1
Electric Meter: 1
Kitchen: 1
Laundry: 1
Microwave: 1
Range - Gas: 1
Refrigerator: 1
Washer: 1
Unit 3 Parking
Space Parking: 1
Restrict
None: 1
Roof
Other: 1
Subdiv. Amenities
None: 1
Terms Considered
Cash: 1
Conventional: 1
Possession
At Closing: 1
Showing Instructions
Text Listing Agent: 1
Window Treatments
Hurricane Windows: 1
Impact Glass: 1
Storm Protection
Impact Glass: Complete
Taxes
City/County: 1
Income Expenses
Annual Total Expense: 26240
Annual Net Oper Inc: 44560
Property Features
Source of Expenses: Books; Owner; Tax Return
Construction: CBS; Concrete
Waterfront Details: None
View: Other
Unit 1 Desc: A/C Unit; Dishwasher; Disposal; Dryer; Electric Meter; Kitchen; Laundry; Microwave; Range - Gas; Refrigerator; Washer; Patio
Unit 1 Parking: Carport - Attached; Garage - Attached
Unit 2 Desc: A/C Unit; Dishwasher; Disposal; Dryer; Electric Meter; Kitchen; Laundry; Microwave; Refrigerator; Washer
Unit 2 Parking: Space Parking
Unit 3 Desc: A/C Unit; Dishwasher; Disposal; Dryer; Electric Meter; Kitchen; Laundry; Microwave; Range - Gas; Refrigerator; Washer
Unit 3 Parking: Space Parking
Lot Description: < 1/4 Acre
Exterior Features: Auto Sprinkler; Covered Patio; Open Porch; Room for Pool; None
Tenant Pays: Cable; Electric; Gas; Water
Restrict: None
Flooring: Ceramic Tile; Vinyl Floor
Cooling: Central Individual; Electric
Heating: Central Individual
Roof: Other
Terms Considered: Cash; Conventional
Utilities: Gas Natural
Window Treatments: Hurricane Windows; Impact Glass
Taxes: City/County
Avail Info: Leases
Possession: At Closing
Showing Instructions: Text Listing Agent
Documents
Lake Worth Beach Investment ›
Listing Office:
William Raveis Real Estate
Last Updated: November - 23 - 2025
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. Copyright 2024 Beaches Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.