Four-Unit
For Sale
$679,500
1205 Ave K, Fort Pierce, FL 34950
MULTI_FAMILY - Fort Pierce, FL
Property Size3,300 SF
Lot Size0.34 Acres
Price / SF$205.91
Days on Market102
Property Features for 1205 Ave K
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Medium Density
Bedrooms
12
Full bathrooms
4
Half bathrooms
4
Rooms
Bathroom 5, Bedroom 3, Bedroom 8, Bedroom 9, Bathroom 6, Bathroom 3, Bedroom 10, Bedroom 5, Bedroom 1, Bathroom 2, Bedroom 6, Bedroom 11, Bedroom 7, Bedroom 2, Bedroom 12, Bathroom 4, Bathroom 7, Bathroom 1, Bedroom 4, Bathroom 8
Pets allowed
No, Yes
Subdivision
H & A RENTALS SUBDIVISION
Lot features
Oversized Lot
Standard status
Active
APN
240480300020005
Size
3,300 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
H AND A RENTALS S/D LOTS 2 AND 3
Tax Annual Amount
8635
Legal Description
H AND A RENTALS S/D LOTS 2 AND 3
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Building Details
Year built
1979
Floors in Building
1
Number of units
4
Flooring type
Wood
Building materials
CBS
Roof type
Shingle
Listing Agency:
Compass Florida LLC
(561) 285-4283
Listed By:
Michael Harrison Korman · License #3316647
(954) 598-3277
Added: May 14
Changed: Aug 10
Last Checked: Aug 23 at 6:06AM
MLS# B26029200
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.
This four-unit quadplex offers a practical investor setup in Fort Pierce, with three of four units currently occupied by longer-term tenants and one unit newly renovated and ready to be leased. The property was built in 1979 and constructed with CBS (concrete block stucco). Inside, the home features wood flooring and central heating with central air and ceiling fans.
Recent exterior and mechanical updates include a newer shingle roof from 2022 and two new AC units. Utilities are supported by public water and public sewer, and cable service is available.
The quadplex sits on a 0.34-acre lot and is zoned Medium Density. The location is described as close proximity to the beach, restaurants, and parks, just south of Hutchinson Island.
Recent exterior and mechanical updates include a newer shingle roof from 2022 and two new AC units. Utilities are supported by public water and public sewer, and cable service is available.
The quadplex sits on a 0.34-acre lot and is zoned Medium Density. The location is described as close proximity to the beach, restaurants, and parks, just south of Hutchinson Island.
Key Highlights
- Three of four units occupied with longer‑term tenants; one newly renovated unit ready to lease
- New shingle roof in 2022
- Two new AC units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$48,461
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.13%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
75%
Occupancy
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit quadplex on a 0.34-acre lot with medium density zoning; three units occupied and one newly renovated for lease.
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: Three of four units occupied with longer‑term tenants; one newly renovated unit ready to lease; New shingle roof in 2022; Two new AC units
