1219 Avenue M - Apartments FOR SALE


Fort Pierce, FL 34950- Downtown Fort Pierce
$275,000 USD
305-300-0364
1219 Avenue M, Fort Pierce, FL for Sale
$275,000 USD
Apartments - FOR SALE
1/4
null | 8% Cap Rate

1219 Avenue M
Fort Pierce, FL 34950
Downtown Fort Pierce


HIGHLIGHTS

  • Two-bedroom duplex with separate utilities for each unit for efficiency.
  • Positioned across from Horatio Grisby Sr. Park offering recreation and lifestyle amenities.
  • Convenient downtown location with access to retail, schools, and major roadways.

OVERVIEW

-1219 Ave. M, Fort Pierce, Fl. 34950 2 Unit Duplex that consists or 2 (2/1) and large backyard. Across the street from Horatio Grisby Sr. Sr. Athletic city park (Basketball Court, Tennis Court, Pool, Basebase fields) Both units are on separate electrical and water meters so tenants pay for those expenses directly to the utility companies. - Retirement Sale, Rare Opportunity to own MultiFamily properties in Downtown Fort Pierce Owner is retiring. All reasonable offers will be considered. Rents are below market value and offers an opportunity for new owner to raise them. Great opportunity for hands off investor Long term property management in place. Also available as a Portfolio Sale (2 Properties, a duplex and triplex, 1.4 miles away from each other) 804 Orange Ave, Fort Pierce, FL 34950 Both properties are located in Opportunity Zones and have increased tax benefits and depreciation. Also great properties to defer your current capital gains taxes by using a 1031 exchange to buy these. All inquires should be directed to Shawn 305-300-0364 (please text if did not answer) 1219 Ave M Operating Revenue and Expenses Revenue: Unit A (2 Bedroom, 1 Bathroom) $650 month - Current (Potential $1,200 month) Unit B (2 Bedroom, 1 Bathroom) $650 month - Current (Potential $1,200 month) Current Yearly Revenue $15,600 Potential with raised rents $28,800 Yearly Expenses: Lawn Maintenance $1,440 Property Management $1,560 (10% of Revenue) Repairs Budget $2,000 Insurance $986 Property Taxes $2,030 Total: $8,016 (Profit $7.5k and with raised rents $19k)

FOR SALE DETAILS

PRICE

$275,000 USD

PRICE/SF

$189 USD /SF

# OF UNITS

2

PRICE/UNIT

$137,500

CAP RATE

8%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1967

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,924 SF

ZONING

MEDIUM DEN

APN/PARCEL ID

24-04-801-0034-0002

ASK ABOUT THIS PROPERTY

Shawn SnowShawn SnowMore Info
305-300-0364

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Shawn SnowShawn SnowMore Info
305-300-0364

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.