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516 S 5th St

Fort Pierce, FL 34950

$500,000

Apartments For Sale  •  5,436 Sq Ft

Property Details

  • Property Type Apartments
  • Total Building Size 5,436 Sq Ft
  • Lot Size 0.38 ac
  • Building Class C
  • Year Built 1925
  • Cap Rate 12.60 %
  • Zoning C3
0 Transit Score
69 Walk Score

Description

**EASY TO MANAGE** This is a well maintained two-story efficiency apartment building, built in 1925; it has beautiful wood floors, “vintage” bath tubs, Murphy Beds and upgraded electric and plumbing only needs new interior paint and minor repairs. New roof installed 2017 with warranty. Additional features include a car port, enclosed front porch, and a fireplace. It has a projected 12.6% CAP RATE and it is a zoned commercial area potential for future conversion to commercial use such as offices. Currently has a couple of vacancies available but will lease fast as it is in high demand area. Located just 1 block from US #1.

Highlights

Wood floors, "Vintage" bath tubs
Zoned commercial area
Potential 14% cap rate
Located just 1 block from US #1
Easy to manage

Property Flyers

Financial Summary (Proforma)

Net Operating Income: $60,850 (2018)
Cap Rate: 12.60 %
Total Expenses: $11,150

Amenities

  • Tile Floors
  • Kitchen
  • Hardwood Floors
  • Refrigerator
  • Tub/Shower
  • Porch
Alex Rodriguez-Torres 772-353-0638 Commercial Real Estate, LLC
Alex Rodriguez-Torres 772-353-0638 Commercial Real Estate, LLC