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Victoria Village 401 18th St 27 Unit Apartment Building $11,950,000 ($442,593/Unit) 4.73% Cap Rate Vero Beach, FL 32960
Investment Highlights
- CBS with metal roofs, quality finishes include marble flooring, granite kitchen counters. 27 1 & 2 story units; 10 3 br. 2 ba., 17 2 br. 2 ba.
- Built between 2022 & 2025. LOCATION!!! Just off the 17th Street causeway to beach. Close to grocery, shopping district on US 1
Executive Summary
This premier income-producing asset offers exceptional opportunity for investors seeking stability and long-term growth in Vero Beach’s thriving rental market. Built between 2022 and 2025, the 27-unit complex pairs contemporary architecture with low-maintenance durability, featuring reinforced concrete block construction, metal roofing, and fire sprinkler safety systems. Each unit boasts high-end finishes including marble flooring, granite countertops, and refined stucco exteriors designed to attract and retain discerning tenants.
Positioned just off 17th Street and minutes from US-1, the property is strategically located for easy access to the South Causeway and Vero’s most desirable beaches, parks, and retail destinations. Fully leased with strong income performance, this offering represents an outstanding chance to acquire a turnkey asset in a high-demand coastal market with limited new supply. Operational benefits include centralized heating and cooling, insulated systems, and robust zoning for multi-family configuration. The 3.1-acre parcel provides ample parking with garage options and supports seamless property management. Investors will appreciate the stability, consistent cash flow, and geographic advantage within one of Florida’s fastest-growing lifestyle destinations.
Positioned just off 17th Street and minutes from US-1, the property is strategically located for easy access to the South Causeway and Vero’s most desirable beaches, parks, and retail destinations. Fully leased with strong income performance, this offering represents an outstanding chance to acquire a turnkey asset in a high-demand coastal market with limited new supply. Operational benefits include centralized heating and cooling, insulated systems, and robust zoning for multi-family configuration. The 3.1-acre parcel provides ample parking with garage options and supports seamless property management. Investors will appreciate the stability, consistent cash flow, and geographic advantage within one of Florida’s fastest-growing lifestyle destinations.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$686,400
|
$17.16
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$686,400
|
$17.16
|
| Taxes |
$52,600
|
$1.32
|
| Operating Expenses |
$58,000
|
$1.45
|
| Total Expenses |
$110,600
|
$2.77
|
| Net Operating Income |
$575,800
|
$14.40
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $686,400 |
| Annual Per SF | $17.16 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $686,400 |
| Annual Per SF | $17.16 |
| Taxes | |
|---|---|
| Annual | $52,600 |
| Annual Per SF | $1.32 |
| Operating Expenses | |
|---|---|
| Annual | $58,000 |
| Annual Per SF | $1.45 |
| Total Expenses | |
|---|---|
| Annual | $110,600 |
| Annual Per SF | $2.77 |
| Net Operating Income | |
|---|---|
| Annual | $575,800 |
| Annual Per SF | $14.40 |
Property Facts
| Price | $11,950,000 | Apartment Style | Townhome |
| Price Per Unit | $442,593 | Building Class | C |
| Sale Type | Investment | Lot Size | 3.10 AC |
| Cap Rate | 4.73% | Building Size | 40,000 SF |
| Sale Condition | Bulk/Portfolio Sale | Average Occupancy | 100% |
| No. Units | 27 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2022 |
| Property Subtype | Apartment | ||
| Zoning | Multi - Multi | ||
| Price | $11,950,000 |
| Price Per Unit | $442,593 |
| Sale Type | Investment |
| Cap Rate | 4.73% |
| Sale Condition | Bulk/Portfolio Sale |
| No. Units | 27 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 3.10 AC |
| Building Size | 40,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2022 |
| Zoning | Multi - Multi |
Amenities
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 27 | $2,200 | 40,000 |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 33-39-01-00027-0020-00001.0 | Total Assessment | $2,896,094 |
| Land Assessment | $573,903 | Annual Taxes | $52,600 ($1.32/SF) |
| Improvements Assessment | $2,322,191 | Tax Year | 2025 |
Property Taxes
Parcel Number
33-39-01-00027-0020-00001.0
Land Assessment
$573,903
Improvements Assessment
$2,322,191
Total Assessment
$2,896,094
Annual Taxes
$52,600 ($1.32/SF)
Tax Year
2025
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Victoria Village | 401 18th St
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