Featuring 8 spacious units nestled among the sand dunes of beautiful Hutchinson Island, Ocean House Apartments provides an extraordinary investment
opportunity as well as unbeatable value to tenants from many walks of life. Currently managed as a long term rental with tenants on long term leases, it
provides a uniquely affordable type of waterfront living to local residents. Hutchinson Island stretches along Florida’s Eastern Atlantic Coast from Vero
Beach to Stuart. It is known for its beautiful beaches and parks, but is less densely populated than Palm Beach and Singer Islands, making it ideal for people
seeking the quintessential laid-back Florida lifestyle. Ocean House is also convenient to local commerce centers in Fort Pierce, Port St. Lucie, Stuart, and
Vero Beach, making it strong on live/work/play fundamentals.
305-307 S Ocean Drive is fully CBS (with brand new roof on 305 bldg.), thus keeping any remaining deferred maintenance to an absolute minimum.
Interiors are updated with modern cabinets, tile flooring and recently done bathrooms, yet significant rental upside remains. Current tenants are on 6
month leases and remain on the property year round, so current cash flow is stable and competitive and easy to maintain. More aggressive
owners/investors may seek to rent a portion or all of the property as a vacation rental, due to its highly desirable coastal location.
South-Central Florida’s rental market has exploded over the preceding decade as people flock to the area for its relatively low cost of living and beautiful
coastal lifestyle. Hutchinson Island in particular is home to a huge number of modern, luxury condo units and single-family homes. Apartments such as
these hit a “sweet spot” in the market here, as they are relatively affordable and easy to maintain occupancy, while also being in one of the most desirable
and beautiful locales in the United States.
Continued population growth in South and Central Florida over the last decade has been steady. The trend towards rental housing and away from
homeownership brought on by the 2009 housing crisis combines with this fact to drive demand for quality rentals. In this market, multifamily investment
properties emerge as a stable, lucrative, recession-resistant, and comparatively simple asset to manage, providing a unique waterfront living experience in
addition to excellent return on investment!
