Updated Duplex with Move-In Ready
1504 41st Ave Vero Beach, FL 32960
1504 41st Ave, Vero Beach, FL, 32960
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For Sale
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Updated duplex with a renovated 2BR tenant-occupied unit and a vacant 3BR unit, both with modernized living spaces.
Property Size1,910 SF
Price / SF$225.13
Days on Market102
Property Features for 1504 41st Ave
General Information
- Standard status
- Active
- Size
- 1,910 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1972
Listing agency
LPT Realty
(772) 713-4204
Listed by
John DiGirolomo · License #SL3458838
Source
Crexi
Added: Apr 12 Updated: Jul 20 at 11:22PM Checked: Jul 20 at 11:22PM
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 LPT Realty
Investment Insights
Based on property information with market context.
This updated duplex includes two separate residences. Unit 1506 is a fully renovated 2BR/1BA with a month-to-month tenant in place, along with an enclosed Florida room and a fenced yard. Unit 1504 is vacant and move-in ready, offering a 3BR/2BA with a newly updated bathroom.
The property is set in a quiet setting next to a dead-end street and is described as convenient to shopping, restaurants, schools, and major routes. Outside improvements include a newer metal roof, separate utilities, a screened porch, a carport with a utility sink, and additional outdoor storage supported by a large shed and other storage areas.
The property is set in a quiet setting next to a dead-end street and is described as convenient to shopping, restaurants, schools, and major routes. Outside improvements include a newer metal roof, separate utilities, a screened porch, a carport with a utility sink, and additional outdoor storage supported by a large shed and other storage areas.
Key Highlights
- Updated duplex built in 1972 with two separate units: 1506 (2BR/1BA) and 1504 (3BR/2BA).
- 1506 unit is fully renovated and tenant‑occupied on a month‑to‑month basis.
- 1506 includes an enclosed Florida room, fenced yard, and separate utilities.
Local Financial Insights For Multifamily LT 5
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 | $33.2k | $17.40 |
| − Vacancy | −$1.7k | −$0.90 |
| EGI | $31.5k | $16.50 |
| − OpEx | −$9.5k | −$4.95 |
| NOI | $22.1k | $11.55 |
1,910 SF · lease $17.40/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$315.1K
$275.7K – $367.6K
NOI $22,054 @ 7.0% cap · market cap 5.13%
Second Best
Apartment 5plus
$290.8K
$254.5K – $339.3K
NOI $20,359 @ 7.0% cap · market cap 4.73%
Theoretical Best
Specialty Retail
$418.9K
$366.5K – $488.7K
NOI $29,321 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Updated duplex with a renovated 2BR tenant-occupied unit and a vacant 3BR unit, both with modernized living spaces.
Where is this duplex located?
The property is located at 1504 41st Ave Vero Beach, FL.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Updated duplex built in 1972 with two separate units: 1506 (2BR/1BA) and 1504 (3BR/2BA).; 1506 unit is fully renovated and tenant‑occupied on a month‑to‑month basis.; 1506 includes an enclosed Florida room, fenced yard, and separate utilities.
