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Multifamily Investment Opportunity 2100 NE Indian River Dr 15 Room Hotel Jensen Beach, FL 34957 $2,995,000 ($199,667/Room)
Investment Highlights
- Value-Add Rent Growth Opportunity
- Two-Building, 15-Unit Configuration
- Scalable, Manageable Asset Size
- Recent Capital Improvements Completed by Ownership
- Coastal Lifestyle Demand Driver
Executive Summary
CMB Commercial Real Estate is pleased to present the exclusive opportunity to acquire the Indian River Drive Apartments, a 15-unit, two-building multifamily investment located at 2100 NE Indian River Drive in Jensen Beach, Florida. Situated along the Indian River Lagoon corridor in the heart of Martin County's Treasure Coast, the site offers waterfront views, a rare combination of coastal lifestyle appeal, walkability to downtown Jensen Beach, and genuine in-place value-add upside for a new owner.
The Property consists of two separate buildings totaling 15 residential units — one building comprised of 8 single-bedroom units and a second building comprised of 7 efficiency units. Leases are currently structured as a mix of month-to-month and annual terms, providing an incoming owner with near-term flexibility to reposition the rent roll to market. The Property is currently generating approximately $279,600 in gross annual rental income.
The current ownership has already invested meaningfully in the physical asset, having completed a full interior and exterior repaint of both buildings, updated kitchens and bathrooms, installed all-new appliances, and replaced the air conditioning systems throughout. These improvements reduce near-term capital expenditure risk for a buyer while the mixed lease structure and month-to-month tenancies create a path to push rents to dominant Jensen Beach market levels.
The Property consists of two separate buildings totaling 15 residential units — one building comprised of 8 single-bedroom units and a second building comprised of 7 efficiency units. Leases are currently structured as a mix of month-to-month and annual terms, providing an incoming owner with near-term flexibility to reposition the rent roll to market. The Property is currently generating approximately $279,600 in gross annual rental income.
The current ownership has already invested meaningfully in the physical asset, having completed a full interior and exterior repaint of both buildings, updated kitchens and bathrooms, installed all-new appliances, and replaced the air conditioning systems throughout. These improvements reduce near-term capital expenditure risk for a buyer while the mixed lease structure and month-to-month tenancies create a path to push rents to dominant Jensen Beach market levels.
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- Offering Memorandum
Property Facts
| Price | $2,995,000 | Building Size | 6,764 SF |
| Price Per Room | $199,667 | No. Rooms | 15 |
| Sale Type | Investment | No. Stories | 1 |
| Property Type | Hospitality | Year Built | 1954 |
| Property Subtype | Hotel | Parking Ratio | 2.66/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Lot Size | 0.75 AC | Opportunity Zone |
Yes
|
| Zoning | 3900 - Hotels/Motels | ||
| Price | $2,995,000 |
| Price Per Room | $199,667 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.75 AC |
| Building Size | 6,764 SF |
| No. Rooms | 15 |
| No. Stories | 1 |
| Year Built | 1954 |
| Parking Ratio | 2.66/1,000 SF |
| Corridor | Exterior |
| Opportunity Zone |
Yes |
| Zoning | 3900 - Hotels/Motels |
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 15 | $112.00 | - |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 26-37-41-000-000-00290-0 | Improvements Assessment | $444,150 |
| Land Assessment | $394,010 | Total Assessment | $838,160 |
Property Taxes
Parcel Number
26-37-41-000-000-00290-0
Land Assessment
$394,010
Improvements Assessment
$444,150
Total Assessment
$838,160
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Multifamily Investment Opportunity | 2100 NE Indian River Dr