Fiveplex Residential Income
New
For Sale
$2,100,000
1240 CARLTON Court, 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$477.27
Days on Market7
Property Features for 1240 CARLTON Court
General Information
Standard status
Active
Size
4,400 SF
Lot size
0.34 Acres
Property subtype
Commercial
Units
Unit Mix
5 x 1BR/1BA
Multifamily Units
5
Amenities
Central air
Assigned
Ceiling Fans Cooling
Central Air Cooling
Central Heating
Concrete Roof
Guest
Laminate Flooring
Tile Flooring
Building Details
Year Built
1981
Listing Agency:
SOUTHERN CASTLES
Listed By:
DONNA L BENTON · License #B26056972
Source:
Corcoran
Added: Jul 27
Changed: Jul 30
Last Checked: Aug 2 at 8:36AM
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
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 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 | $114.6k | $26.04 |
| − Vacancy | −$5.5k | −$1.25 |
| EGI | $109.1k | $24.79 |
| − OpEx | −$49.1k | −$11.16 |
| NOI | $60.0k | $13.63 |
4,400 SF · lease $26.04/SF/yr · vacancy 4.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$857.0K
$749.9K – $999.9K
NOI $59,992 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$968.2K – $1.29M
NOI $77,458 @ 7.0% cap · market cap 3.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
221
Businesses Nearby
Explore this area
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
Market
Properties on Market for Residential income properties in Fort Pierce
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?
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 Court Fort Pierce, FL.
What is the asking price?
The asking price for this property is $2,100,000.
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
