Renovated Quadplex with New
For Sale
$679,500
Pending
1205 Ave K, Fort Pierce, FL 34950
Three of four units are occupied, and one newly renovated unit is ready to lease in a four-unit property.
Property Size3,300 SF
Lot Size0.33 Acres
Days on Market163
Property Features for 1205 Ave K
General Information
Standard status
Pending
Size
3,300 SF
Lot size
0.33 Acres
Property subtype
Residential Income / Quadruplex
Occupancy
75%
Lease Term
12 Months
Additional Details
Business Included
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$8,635
Amenities
Ceiling Fan(s), Central Air
Central, Central Individual
1.0
Wood, Other
1
4
CBS
One
Shingle
No
Building Details
Year Built
1979
Stories
1
Tenancy
Multi
Listing Agency:
Compass
Listed By:
Michael Korman · License #3316647
(954) 598-3277
Source:
Compass
Added: May 15
Changed: Oct 20
Last Checked: Oct 23 at 10:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass
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Investment Insights
Based on property information with market context.
This quadplex offers a four-unit residential income setup, with three units currently occupied by longer-term tenants. The fourth unit has been newly renovated throughout and is ready to be leased. Recent improvements include a newer roof installed in 2022, along with two new A/C units, supporting reliable day-to-day operations for the property.
The property sits on a lot of more than one-third acre. It is located close to the beach, restaurants, and parks, and is described as just south of Hutchinson Island, offering an appealing area for renters who want access to coastal and local amenities.
For investors or operators looking for a four-door building with in-place occupancy, this configuration provides immediate rent support from the three occupied units. The ready-to-lease, renovated unit can help reduce downtime between tenants, while the roof and A/C updates provide a more current baseline for property maintenance. Schedule a tour to review unit conditions and confirm lease details directly with the seller.
The property sits on a lot of more than one-third acre. It is located close to the beach, restaurants, and parks, and is described as just south of Hutchinson Island, offering an appealing area for renters who want access to coastal and local amenities.
For investors or operators looking for a four-door building with in-place occupancy, this configuration provides immediate rent support from the three occupied units. The ready-to-lease, renovated unit can help reduce downtime between tenants, while the roof and A/C updates provide a more current baseline for property maintenance. Schedule a tour to review unit conditions and confirm lease details directly with the seller.
Key Highlights
- Four‑unit quadplex built in 1979
- Three of four units are occupied, with one newly renovated unit ready to lease
- New roof in 2022
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,461
Cap Rate
7.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$969,220
$969.2K
Cap Rate 7%
$692,300
$692.3K
Cap Rate 9%
$538,456
$538.5K
Market Conditions
NOI Build-Up for 3,300 SF
Gross rent
$73.3K $22.20/SF
− Vacancy
−$4.0K −$1.22/SF
EGI
$69.2K $20.98/SF
− OpEx
−$20.8K −$6.29/SF
NOI
$48.5K $14.69/SF
Area
St. Lucie County, FL
Vacancy
5.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$969,220
Cap Rate 7%
$692,300
Cap Rate 9%
$538,456
Alternative Uses
Best Use
Multifamily LT 5
$692.3K
$605.8K – $807.7K
NOI $48,461 @ 7.0% cap · market cap 7.13%
Second Best
Apartment 5plus
$642.8K
$562.4K – $749.9K
NOI $44,994 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$829.9K
$726.2K – $968.2K
NOI $58,093 @ 7.0% cap · market cap 8.55%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
75%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
495
Businesses Nearby
Explore this area
Business Placement
Demographics for 34950, FL
16,582
Population
8,055
Households
2.1
Avg Household Size
37
Median Age
14%
College-Educated
64%
High-School Grad
5.2 sq mi
ZIP Area
3,189
Density / Sq Mi
$32,707
Median Household Income
$29,214
Median Earnings
$1,121
Median Rent
$175,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Three of four units are occupied, and one newly renovated unit is ready to lease in a four-unit property.
Where is this quadplex located?
The property is located at 1205 Ave K Fort Pierce, FL.
What is the asking price?
The asking price for this property is $679,500.
What are key features of this property?
This property features: Four‑unit quadplex built in 1979; Three of four units are occupied, with one newly renovated unit ready to lease; New roof in 2022
