For Sale
$3,200,000

601 Ocean DrFort Pierce, FL 34949

12-Unit Multifamily Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional 12-unit apartment building, located at 601 S Ocean Dr, Fort Pierce, FL 34949, presents a compelling investment opportunity. The property, built between 1950 and 1952, sits on a 0.46-acre lot and boasts a desirable R-4A zoning designation. The two-story building comprises a diverse unit mix: two 2-bedroom/2-bathroom units, three 1-bedroom/1-bathroom units, and seven efficiently designed units. Currently generating a gross annual income of $225,000, this translates to a price per unit of $266,667. The asking price for the entire complex is $3,200,000. Its prime location along the Atlantic coast in Fort Pierce offers significant potential for high rental demand, making it attractive to both long-term tenants and vacation renters. The property's strong cash flow, combined with its desirable location and unit mix, makes it an ideal addition to any investment portfolio. The APN is 2401-502-0020-000-4. This is a rare chance to acquire a well-established multifamily property in a thriving coastal community. Don't miss this opportunity to secure a piece of Florida's vibrant real estate market.

Highlights

  • $3,200,000 asking price for a 12-unit apartment building.
  • Located at 601 S Ocean Dr, Fort Pierce, FL 34949.
  • 12 units, with a mix of one and two-bedroom floor plans.
  • Currently generating $225,000 in annual gross income.
  • Built between 1950 and 1952, situated on a 0.46-acre lot.
  • Zoned R-4A.

Property Details for 601 Ocean Dr

Property type
Apartment buildings
Year Built
1950
Stories
2
Lot Size (sq. ft)
20,038 SF
Units
12

Location Insight

City
Fort Pierce
County
St. Lucie
State
Florida
Latitude
27.4629046
Longitude
-80.290254
601 Ocean Dr, Fort Pierce, Florida

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601 Ocean Dr
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