Oak Lake Apartments presents a fully permitted, shovel-ready opportunity to develop a luxury multi-family community in one of Florida’s most exclusive coastal markets. Situated on 7.48 acres along the prestigious Indian River Boulevard, this approved development allows for 59 upscale residential units across three three-story buildings, complemented by detached garages, ample parking, and a resort-style swimming pool. Designed to meet the growing demand for high-end rentals, this project is strategically positioned in an area experiencing rapid population and rental growth, making it an exceptional investment opportunity. Located in the heart of Vero Beach’s affluent residential corridor, Oak Lake Apartments benefits from unparalleled accessibility and proximity to major amenities. Vero Beach Regional Airport has recently secured a contract with Breeze Airways, now offering direct flights to New York, Connecticut, Washington, D.C., Boston, and Canada, increasing connectivity for high-income renters and seasonal residents. The Merrill P. Barber Bridge provides seamless access to Vero Beach’s world-class beaches and North Hutchinson Island, further enhancing the desirability of this location. Nearby luxury rental developments are setting record market highs, with rents reaching $5,500 per month, underscoring the explosive demand for upscale housing in the area. Additionally, residents will enjoy close proximity to premier shopping and dining destinations, including Miracle Mile, Indian River Mall, Vero Beach Outlets, and the high-end retail and restaurant scene along Ocean Drive. The property is also conveniently located near Cleveland Clinic Indian River Hospital, Piper Aircraft Headquarters, and other major employers, ensuring a steady demand for high-end rental housing. With all necessary approvals secured, Oak Lake Apartments is shovel-ready and primed for immediate construction. The development is environmentally conscious, incorporating wetland preservation measures to protect high marsh areas while maximizing site potential. With a prime location, a fully entitled site, and rising demand for luxury rentals, Oak Lake Apartments represents a rare opportunity to develop a highly desirable, Class A multi-family community in a high-barrier-to-entry market. Ready for Immediate Construction. Delivered with all engineering and architectural plans. All reasonable terms and offers considered. Brokers Protected.