Modern Living Group
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$1,400,000ACTIVE

Unit 1-3 · 126 N Palmway 1-3, Lake Worth Beach, FL 33460

beds4baths2,200sq ft$636/ sq ft
THE RESIDENCE

About this home

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. 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 garage boosting 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 condos further 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.

THE DETAILS

Property details

List Price$1,400,000
Price / Unit$466,667
Units3
Cap Rate3.18%
Gross Income$70,800/yr
Net Operating Income$44,560
Inside Sq Ft2,200
Year Built1950
ConstructionBlock, Concrete
FlooringCeramic Tile, Vinyl
ZoningMF-20
Lot Dimensions50.0 ft x 135.0 ft
Property TypeTriplex
MLS #R11142951
StatusActive
Original List Price$1,400,000
GRM19.8
Tenant PaysCable TV, Electricity, Gas, Water
Show all details (8 more)
Stories2
Lot Size0.15 acres
WaterfrontNo
ViewOther
Days on Market184
Annual Taxes$16,967
CityLake Worth Beach
Zip Code33460
LOCATION

Where you'll live

Jonathan Santiago
FEATURED AGENT
Jonathan Santiago
Luxury Specialist

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BeachesMLSListing courtesy of William Raveis Real Estate · barry.frette@raveis.com. All listings featuring the BMLS logo are provided by BeachesMLS, Inc. This information is not verified for authenticity or accuracy and is not guaranteed. Copyright ©2026 BeachesMLS, Inc.