For Sale
$185,500

2221 42Nd St Fort Pierce, FL 34946

Eight-unit rental portfolio, high ROI.

Overview

Added:
Dec 11, 2024
Days on market:
135
This exceptional investment opportunity in Fort Pierce, Florida, consists of a diverse portfolio of eight rental units, offering significant potential for strong returns. The portfolio includes a four-unit quad-plex located at 702 N. 15th St., Fort Pierce, FL 34950, featuring a mix of one, two, and three-bedroom units, totaling 1,278 square feet. Additionally, the portfolio comprises four single-family homes: a three-bedroom, one-bathroom home with a den at 513 N. 43rd St., Fort Pierce, FL 34947 (1,342 sq ft); a three-bedroom, one-bathroom home at 1405 N. 22nd St., Fort Pierce, FL 34950 (1,236 sq ft); a three-bedroom, two-bathroom home with a large den at 2105 Ave. Q, Fort Pierce, FL 34950 (1,321 sq ft); and a three-bedroom, one-bathroom home situated on a corner lot at 2221 N. 42nd St., Fort Pierce, FL 34947 (840 sq ft). The entire portfolio boasts a total of 8 units and 840 net rentable square feet, currently operating at 100% occupancy. The asking price is $185,500, representing a price per square foot of $220.83 and a pro-forma cap rate of 11.00%, with a projected net operating income (NOI) of $20,400. This portfolio presents a compelling investment opportunity for discerning buyers seeking immediate cash flow and long-term appreciation in a thriving Florida market. The individual unit rental estimates range from $1,700 to $1,999 for the single-family homes and $6,000 for the quad-plex. This information is based on estimates and should be independently verified.

Highlights

  • $185,500 asking price for an 8-unit multifamily portfolio in Fort Pierce, FL.
  • 840 square feet of net rentable space.
  • $220.83 price per square foot.
  • 11% pro-forma cap rate.
  • 100% occupancy with a $20,400 pro-forma NOI.

Property Details for 2221 42Nd St

Property type
Residential income homes
Square Feet
840 SF
Units
8

Location Insight

City
Fort Pierce
County
St. Lucie
State
Florida
Latitude
27.472941174626
Longitude
-80.367153989161

FAQs

What type of property is this?
Residential income home - Eight-unit rental portfolio, high ROI.
Where is the residential income home located?
The property is located at 2221 42Nd St Fort Pierce, FL.
What is the asking price?
The asking price for this property is $185,500.
What are key features of this property?
This property features: $185,500 asking price for an 8-unit multifamily portfolio in Fort Pierce, FL.; 840 square feet of net rentable space.; $220.83 price per square foot.
How can I contact the broker?
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2221 42Nd St
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