702 15Th StFort Pierce, FL 34950

Property Details for 702 15Th St

Property size (Sq ft)

15,017 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a portfolio of eight rental units in Fort Pierce, Florida, comprising five buildings totaling 15,017 square feet. The portfolio includes a quad-plex featuring a mix of one-, two-, and three-bedroom units, and four additional single-family homes. The property boasts a current 100% occupancy rate, generating a substantial pro-forma net operating income (NOI) of $72,000, resulting in an attractive pro-forma cap rate of 22.64%. The asking price is $318,000, translating to $39,750 per unit and $21.18 per square foot. Individual unit sizes vary, ranging from approximately 840 square feet to 1,342 square feet. The property's location in Fort Pierce offers strong rental demand, making this a compelling investment for those seeking high returns and stable cash flow. This turnkey portfolio requires minimal management, offering a streamlined approach to real estate investment. The individual addresses within the portfolio are strategically located throughout Fort Pierce, offering diversification within the investment. This is a rare opportunity to acquire a well-performing multifamily portfolio in a growing market. The current rental income provides immediate cash flow, and the potential for future rent increases further enhances the investment's long-term value.

Location Insight

City

Fort Pierce

County

St. Lucie

State

Florida

Latitude

27.4554

Longitude

-80.3391

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