Two Adjacent Fourplex
642 & 646 Eldorado Street Fort Pierce, FL
642 & 646 Eldorado Street, Fort Pierce, FL
$2,300,000
For Sale
$2,300,000
MULTI_FAMILY - Fort Pierce, FL
Property Size8,008 SF
Lot Size0.24 Acres
Price / SF$287.21
Days on Market73
Property Features for 642 & 646 Eldorado Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- HI Medium
- Parking
- 16
- Standard status
- Active
- APN
- 240150300620003
- Size
- 8,008 SF
- Lot size
- 0.24 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- OCEAN VIEW S/D REVISED PLAT HOLLEY AND MORGAN'S S/D BLK 6 N 38.96 FT OF LOT 10 AND S 40.92 FT OF LOT 11
- Tax Annual Amount
- 43595
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1984
- Floors in Building
- 2
- Number of units
- 8
- Flooring type
- Tile
- Building materials
- Frame, Stucco
- Roof type
- Shingle
Listing agency
LPT Realty, LLC
(877) 366-2213
Listed by
John C DiGirolomo · License #3458838
(772) 713-4204
Added: May 11 Updated: Jul 17 at 4:43PM Checked: Jul 22 at 11:06PM
MLS# B26027271
Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Two adjacent fourplex apartment buildings are offered for sale at 642 & 646 Eldorado Street in Fort Pierce, FL, totaling 8 units. The portfolio is fully occupied and is reported to generate approximately $157,800 in current gross annual income. The buildings feature frame and stucco construction and sit on a 0.24-acre lot.
The property is described as located near the Intracoastal, beaches, Jetty Park, marinas, restaurants, and downtown entertainment.
Unit features include separate electric meters, impact windows, and recent renovations. Units are reported to average approximately 1,001 square feet each, and the buildings are identified as zoned HI Medium.
The property is described as located near the Intracoastal, beaches, Jetty Park, marinas, restaurants, and downtown entertainment.
Unit features include separate electric meters, impact windows, and recent renovations. Units are reported to average approximately 1,001 square feet each, and the buildings are identified as zoned HI Medium.
Key Highlights
- Fully occupied multifamily portfolio generating approximately $157,800 in current gross annual income.
- Located near the Intracoastal, beaches, Jetty Park, marinas, restaurants, and downtown entertainment.
- Eight large 2BR/1.5BA units averaging approximately 1,001 SF.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $208.5k | $26.04 |
| − Vacancy | −$10.0k | −$1.25 |
| EGI | $198.5k | $24.79 |
| − OpEx | −$89.3k | −$11.16 |
| NOI | $109.2k | $13.63 |
8,008 SF · lease $26.04/SF/yr · vacancy 4.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.56M
$1.36M – $1.82M
NOI $109,185 @ 7.0% cap · market cap 4.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.01M
$1.76M – $2.35M
NOI $140,973 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Portfolio includes two fourplex apartment buildings with 8 large 2BR/1.5BA units, each with separate electric meters.
Where is this apartment building located?
The property is located at 642 & 646 Eldorado Street Fort Pierce, FL.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Fully occupied multifamily portfolio generating approximately $157,800 in current gross annual income.; Located near the Intracoastal, beaches, Jetty Park, marinas, restaurants, and downtown entertainment.; Eight large 2BR/1.5BA units averaging approximately 1,001 SF.
