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1219 Avenue M 2 Unit Apartment Building $275,000 ($137,500/Unit) 8% Cap Rate Fort Pierce, FL 34950
Executive Summary
-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)
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)
Property Facts
| Price | $275,000 | Building Class | C |
| Price Per Unit | $137,500 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 1,452 SF |
| Cap Rate | 8% | No. Stories | 1 |
| No. Units | 2 | Year Built | 1967 |
| Property Type | Multifamily | Parking Ratio | 2.75/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | MEDIUM DEN - MEDIUM DEN | ||
| Price | $275,000 |
| Price Per Unit | $137,500 |
| Sale Type | Investment |
| Cap Rate | 8% |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 1,452 SF |
| No. Stories | 1 |
| Year Built | 1967 |
| Parking Ratio | 2.75/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | MEDIUM DEN - MEDIUM DEN |
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Pet Play Area
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | - | - |
Property Taxes
| Parcel Number | 24-04-801-0034-0002 | Improvements Assessment | $38,039 |
| Land Assessment | $13,570 | Total Assessment | $51,609 |
Property Taxes
Parcel Number
24-04-801-0034-0002
Land Assessment
$13,570
Improvements Assessment
$38,039
Total Assessment
$51,609
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Videos
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Photos
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Map
Presented by
Shawn Snow
1219 Avenue M
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