0 Cove RdStuart, FL 34997

Property Details for 0 Cove Rd

Lot size

1.82 AC

Property size (Sq ft)

42,840 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

Exceptional investment opportunity: The Hammocks South Townhomes, a Class A, 28-unit apartment building in Stuart, Florida, is now available for $12,392,727. This newly developed multifamily property boasts 42,840 square feet of net rentable space, offering a compelling price per square foot of $289.28 and a pro-forma cap rate of 5.50%. The property generates a pro-forma NOI of $681,600. Situated on a 1.82-acre lot (APN: 51-38-41-003-009-00060-0 and 51-38-41-003-156-0006), this four-building, two-story complex features modern amenities including granite countertops, new cabinetry, and stainless steel appliances in each of the 28 units. The property is zoned R-3A and enjoys a prime location in a rapidly growing area, offering easy access to US-1, shopping centers, state parks, beaches, and major employers in the West Palm Beach market. The Stuart MSA's economy is driven by retail services, hospitality, construction, and government sectors, providing a stable and promising investment climate. This is a rare opportunity to acquire a high-quality, newly developed asset in a thriving South Florida market. The price per unit is $442,597.39. Two additional parking pads are included.

Location Insight

City

Stuart

County

Martin

State

Florida

Latitude

27.1364

Longitude

-80.2004

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].