404 N 23rd Street, Fort Pierce, FL 34950

1984

YEAR BUILT

$850,000

LISTING PRICE

MultiFamily (5+ Units)

TYPE

MLS#: RX-10949080

Type of Building: Resident. Multi-Fam.


For More Information Call:

561-283-4663

Invest in this rare 6-unit property in Fort Pierce and secure a robust stream of passive income! Each unit, currently rented at or near full market value, offers 2 bedrooms and 1 bathroom. With separate power and water services, and a roof replaced in 2020, this is a low-maintenance investment. Perfectly positioned between Orlando and Miami on the East Coast, Fort Pierce is a strategic investment locale. With projects like King's Landing, Fisherman's Wharf, and Boardwalk on the Inlet underway, the area is poised for growth. Once upcoming rent increases take effect, you're looking at an attractive 8% Cap rate. Don't miss out on this excellent opportunity!


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This listing is courtesy of EXP Realty, LLC. Real Estate and Luxury homes in Boca Raton, Delray Beach, Deerfield Beach, Juno Beach, 0 Lake Worth, Palm Beach Gardens, West Palm Beach and surrounding areas in Palm Beach County and South Florida. Property Listing Data contained within this site is the property of Brevard MLS and is provided for consumers looking to purchase real estate. Any other use is prohibited. We are not responsible for errors and omissions on this web site. All information contained herein should be deemed reliable but not guaranteed, all representations are approximate, and individual verification is recommended.

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  • Acres0.61 acres
  • Available DocumentsNone
  • Available InformationCopies of Lease
  • Building Info: Interior Ceiling Height8ft
  • Building Info: Miles to Beach4 miles
  • Building Info: Miles to Expressway35 miles
  • Building Info: Number of Tenants6
  • CeilingSheet Rock
  • CityFort Pierce
  • ConstructionCBS
  • CoolingCentral
  • CountySt. Lucie
  • DirectionsFrom Orange Avenue, N on N 28th Street, property on the right.
  • Expenses: Insurance$14,140
  • Expenses: Maintenance & Repair$3,000
  • Expenses: R.E. Taxes$10,400
  • Fire ProtectionNone
  • FlooringTile
  • For LeaseNo
  • For SaleYes
  • HeatingCentral Building
  • LeaseAnnual
  • Legal DescriptionALAMANDA VISTA S/D BLK 6 LOTS 6 TO 10 INCL AND W 5 FT OF VAC ALLEY ADJ ON E
  • List Price$850,000
  • List Price/SqFt$159.53 / sqft
  • Listing DateThursday, January 11th, 2024
  • Listing IDRX-10949080
  • Listing Price$850,000
  • Listing StatusActive
  • LocationCity
  • Monetary Info: Gross Operating Income$93,516
  • Monetary Info: Net Operating Income$62,709
  • Monetary Info: Source of ExpensesOwner
  • Monetary Info: Total Expenses$27,540
  • Number of Stories1
  • Number of Toilets6
  • Percent Air Conditioned100%
  • PossessionAt Closing and Funding
  • Property DescriptionSixplex
  • Property TypeCommercial
  • Real Estate Taxes$14,729.60
  • RoofComp Shingle
  • Sale IncludesBuilding and Land
  • SqFt SourceTax Rolls
  • State/ProvinceFL
  • StatusActive
  • Status Change DateThursday, January 11th, 2024
  • Street Name23rd
  • SubdivisionAlamanda Vista Subdivision
  • Tax Year2022
  • Tenant PaysElectric, Sewer and Water
  • Terms ConsideredCash and Conventional
  • Total Building SqFt5,328 sqft
  • Total Units in Building6
  • TypeMultiFamily (5+ Units)
  • Type of BuildingResident. Multi-Fam.
  • Unit 1: Annual Rent$900
  • Unit 1: Full Baths1
  • Unit 1: Rent PeriodMonth
  • Unit 1: Unit Description2 Bedroom
  • Unit 2: Annual Rent$1,450
  • Unit 2: Full Baths1
  • Unit 2: Rent PeriodMonth
  • Unit 2: Unit Description2 Bedroom
  • Unit 3: Annual Rent$1,468
  • Unit 3: Full Baths1
  • Unit 3: Rent PeriodMonth
  • Unit 3: Unit Description2 Bedroom
  • Unit 4: Annual Rent$1,325
  • Unit 4: Full Baths1
  • Unit 4: Rent PeriodMonth
  • Unit 4: Unit Description2 Bedroom
  • Unit 5: Annual Rent$1,200
  • Unit 5: Rent PeriodMonth
  • Unit 5: Unit Description2 Bedroom
  • Unit 6: Annual Rent$1,450
  • Unit 6: Full Baths1
  • Unit 6: Rent PeriodMonth
  • Unit 6: Unit Description2 Bedroom
  • UtilitiesPublic Sewer and Public Water
  • Virtual TourYes
  • Year Built1984
  • Zip Code34950
  • ZoningMedium

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