3202-3210 Louisiana Ave - Apartments FOR SALE


Fort Pierce, FL 34947
$5,000,000 USD
954-501-5020
3202-3210 Louisiana Ave, Fort Pierce, FL for Sale
$5,000,000 USD
Apartments - FOR SALE
1/23
null | 6.54% Cap Rate

3202-3210 Louisiana Ave
Fort Pierce, FL 34947


HIGHLIGHTS

  • Upside In Rents Through Professional Property Management
  • Unique Unit Mix Of All Large 2 and 3 Bed Floor Plans
  • Assumable Loan Available at a 4.58% Interest With a Remaining Balance of $2,350,000
  • Offers Extremely Close Proximity to Interstate-95
  • On-Site Coin Operated Laundry

OVERVIEW

Marcus & Millichap is pleased to present the Louisiana Apartments, a 34-unit multifamily portfolio located at 3101–3210 Louisiana Avenue in Fort Pierce, Florida. Situated on 1.64 acres in a quiet residential neighborhood, the offering also includes a vacant parcel, providing both stable in-place income and future development potential. The portfolio is comprised of six concrete block buildings constructed between 1973 and 1977, totaling 36,074 gross square feet. The unit mix consists of eleven (11) two-bedroom/one-bathroom units averaging 875 square feet and twenty-three (23) three-bedroom/one-bathroom units averaging 1,050 square feet. Roofs on the pitched-shingle buildings were most recently replaced in 2017, while two of the flat-roof buildings have older roofs, presenting an opportunity for capital improvements. Property Details 3210 Louisiana Ave – 8 Units | 9,168 SF | Built 1977 3208 Louisiana Ave – 8 Units | 9,168 SF | Built 1977 3206 Louisiana Ave – 8 Units | 9,168 SF | Built 1975 3204 Louisiana Ave – 4 Units | 3,890 SF | Built 1974 3202 Louisiana Ave – 4 Units | 3,890 SF | Built 1974 3104 Louisiana Ave – 2 Units | 1,840 SF | Built 1973 3101 Louisiana Ave – Vacant Lot (included in sale) Located minutes from Downtown Fort Pierce, U.S. Highway 1, and I-95, the Louisiana Apartments benefit from strong rental demand driven by a growing workforce, port activity, and ongoing revitalization efforts in the city. The portfolio’s mix of large two- and three-bedroom units makes it well-suited for families, while the inclusion of the vacant lot offers an investor optionality for additional development or amenities. With limited multifamily supply in the immediate area and continued population growth along Florida’s Treasure Coast, the Louisiana Apartments present an attractive opportunity to acquire scale with value-add upside through interior renovations, roof replacements, and long-term redevelopment potential.

FOR SALE DETAILS

PRICE

$5,000,000 USD

PRICE/SF

$147 USD /SF

# OF UNITS

34

PRICE/UNIT

$147,059

CAP RATE

6.54%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Louisiana Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1977

PARKING SPACES

36

LAND DETAILS

LAND ACRES

1.64 AC

LAND SF

71,438 SF

ZONING

R-4

APN/PARCEL ID

24-17-514-0001-0001,24-17-514-0003-0005,24-17-514-0005-0009,24-17-514-0007-0003

ASK ABOUT THIS PROPERTY

Daniel CunninghamMarcus & MillichapMore Info
954-501-5020

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Daniel CunninghamMarcus & MillichapMore Info
954-501-5020

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