Furnished 5-Unit Apartment
New
For Sale
$1,995,000
1821 Seaway Drive, Fort Pierce, FL 34949
Remodeled, furnished apartments offer a flexible setup near the beach and local restaurants.
Property Size4,736 SF
Days on Market5
Property Features for 1821 Seaway Drive
General Information
Standard status
Active
Size
4,736 SF
Property subtype
Quadruplex
Units
Unit Mix
5 x 2BR/1.5BA
Multifamily Units
5
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$25,809
Building Details
Building Size
4,736 SF
Year Built
1983
Listing Agency:
Water Pointe Realty Group
Listed By:
Blake E. Miller · License #3211582
(772) 528-7788
Source:
Meyerlucas
Added: Oct 16
Changed: Oct 19
Last Checked: Oct 19 at 12:21PM
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 Water Pointe Realty Group
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Investment Insights
Based on property information with market context.
This 1983 apartment building contains five furnished residences, each configured with two bedrooms and 1.5 baths. The property totals 4,736 square feet and has undergone remodeling. A standing-seam metal roof is in place, along with impact windows; four of the five units have had their air-conditioning systems replaced since 2021. Zoning is listed as HI Medium.
The property is on Seaway Drive in Fort Pierce’s South Beach area, directly across from Square Grouper. The beach and restaurants are within walking distance, and the Inlet and Jetty are visible from across the street. The Jetty is also accessible for fishing across the road.
The property is on Seaway Drive in Fort Pierce’s South Beach area, directly across from Square Grouper. The beach and restaurants are within walking distance, and the Inlet and Jetty are visible from across the street. The Jetty is also accessible for fishing across the road.
Key Highlights
- Five furnished apartments, each with 2 bedrooms and 1.5 baths
- 4,736 SF building constructed in 1983
- Remodeled interiors and standing‑seam metal roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,573
Cap Rate
3.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,291,460
$1.3M
Cap Rate 7%
$922,471
$922.5K
Cap Rate 9%
$717,478
$717.5K
Market Conditions
NOI Build-Up for 4,736 SF
Gross rent
$123.3K $26.04/SF
− Vacancy
−$5.9K −$1.25/SF
EGI
$117.4K $24.79/SF
− OpEx
−$52.8K −$11.16/SF
NOI
$64.6K $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%
$1,291,460
Cap Rate 7%
$922,471
Cap Rate 9%
$717,478
Alternative Uses
Best Use
Apartment 5plus
$922.5K
$807.2K – $1.08M
NOI $64,573 @ 7.0% cap · market cap 3.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,373 @ 7.0% cap · market cap 4.18%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
179
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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Remodeled, furnished apartments offer a flexible setup near the beach and local restaurants.
Where is this apartment building located?
The property is located at 1821 Seaway Drive Fort Pierce, FL.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Five furnished apartments, each with 2 bedrooms and 1.5 baths; 4,736 SF building constructed in 1983; Remodeled interiors and standing‑seam metal roof
