Fiveplex Residential Income
For Sale
$2,049,000
1240 Carlton Ct, Fort Pierce, FL 34949
Five one-bedroom, one-bath residences in a 1981-built five-plex on a 0.34-acre lot.
Property Size4,400 SF
Lot Size0.34 Acres
Price / SF$465.68
Days on Market99
Property Features for 1240 Carlton Ct
General Information
Standard status
Active
Size
4,400 SF
Lot size
0.34 Acres
Units
Unit Mix
5 x 1BR/1BA
Multifamily Units
5
Building Details
Year Built
1981
Listing Agency:
Southern Castles
Listed By:
Donna L Benton · License #B26001065
(772) 519-6786
Source:
Mymiahomes
Added: Jul 29
Changed: Oct 26
Last Checked: Oct 7 at 2:11PM
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 Southern Castles
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Investment Insights
Based on property information with market context.
This fiveplex at 1240 Carlton Court offers five one-bedroom, one-bath residences with approximately 4,400 square feet of total living area and storage. Built in 1981, the property is situated on a spacious 0.34-acre lot and is configured to provide multiple separate residential units within a single building.
Located on South Hutchinson Island in Fort Pierce, residents are positioned for convenient access to beaches and the Indian River Lagoon, along with restaurants, shopping, marinas, and nearby downtown Fort Pierce. The combination of multiple units and an island setting may appeal to tenants seeking year-round access to local amenities.
Buyer to verify all measurements, unit details, and financial information.
Located on South Hutchinson Island in Fort Pierce, residents are positioned for convenient access to beaches and the Indian River Lagoon, along with restaurants, shopping, marinas, and nearby downtown Fort Pierce. The combination of multiple units and an island setting may appeal to tenants seeking year-round access to local amenities.
Buyer to verify all measurements, unit details, and financial information.
Key Highlights
- Five one‑bedroom, one‑bath residences
- Approximately 4,400 SF total living area and storage space
- Built in 1981
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,992
Cap Rate
2.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,199,840
$1.2M
Cap Rate 7%
$857,029
$857.0K
Cap Rate 9%
$666,578
$666.6K
Market Conditions
NOI Build-Up for 4,400 SF
Gross rent
$114.6K $26.04/SF
− Vacancy
−$5.5K −$1.25/SF
EGI
$109.1K $24.79/SF
− OpEx
−$49.1K −$11.16/SF
NOI
$60.0K $13.63/SF
Area
St. Lucie County, FL
Vacancy
4.80%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,199,840
Cap Rate 7%
$857,029
Cap Rate 9%
$666,578
Alternative Uses
Best Use
Apartment 5plus
$857.0K
$749.9K – $999.9K
NOI $59,992 @ 7.0% cap · market cap 2.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$968.2K – $1.29M
NOI $77,458 @ 7.0% cap · market cap 3.78%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
221
Businesses Nearby
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Business Placement
Demographics for 34949, FL
8,027
Population
8,033
Households
1
Avg Household Size
65
Median Age
47%
College-Educated
96%
High-School Grad
9.4 sq mi
ZIP Area
854
Density / Sq Mi
$92,188
Median Household Income
$37,219
Median Earnings
$1,484
Median Rent
$427,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Five one-bedroom, one-bath residences in a 1981-built five-plex on a 0.34-acre lot.
Where is this residential income property located?
The property is located at 1240 Carlton Ct Fort Pierce, FL.
What is the asking price?
The asking price for this property is $2,049,000.
What are key features of this property?
This property features: Five one‑bedroom, one‑bath residences; Approximately 4,400 SF total living area and storage space; Built in 1981
