5-Unit Apartment
New
For Sale
$1,995,000
1821 Seaway Drive, Fort Pierce, FL 34949
ResidentialIncome, Fort Pierce, FL
Property Size4,736 SF
Lot Size0.32 Acres
Price / SF$421.24
Days on Market1
Property Features for 1821 Seaway Drive
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
HI Medium
Parking features
Open
Window features
Blinds
Pets allowed
Yes
Subdivision
Fort Pierce Sub
Elementary school
C A Moore
Middle school
Dan MCcarthy
High school
Fort Pierce Westwood
Standard status
Active
APN
240150100640001
Size
4,736 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
FT PIERCE BEACH S/D BLK 5 LOTS 11 AND 12
Tax Annual Amount
25809
Legal Description
FT PIERCE BEACH S/D BLK 5 LOTS 11 AND 12
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1983
Number of units
1
Flooring type
Tile
Building materials
Block, Concrete, WoodSiding
Roof type
Metal
Listing Agency:
Water Pointe Realty Group
(772) 220-4343
Listed By:
Blake Miller · License #3211582
(772) 528-7788
Added: Oct 16
Last Checked: Oct 16 at 8:06PM
MLS# M20057290
Copyright © 2026 Martin County REALTORS® of the Treasure Coast, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 5-unit apartment property contains 4,736 square feet across 0.3181 acres. Each residence has two bedrooms and 1.5 baths, and the units are remodeled and furnished. The building dates to 1983 and has a standing-seam metal roof; four units have received replacement air-conditioning systems since 2021. Impact windows are also noted among the property features.
The property is across the street from Square Grouper, with the beach and restaurants within walking distance. Views of the inlet and jetty are available across the street. The property is presented for vacation, short-term, or long-term rental use.
The property is across the street from Square Grouper, with the beach and restaurants within walking distance. Views of the inlet and jetty are available across the street. The property is presented for vacation, short-term, or long-term rental use.
Key Highlights
- Five furnished, remodeled units, each with 2 bedrooms and 1.5 baths
- 4,736 square feet on 0.3181 acres
- Four of five units have had A/C replaced since 2021
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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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
179
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
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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 residences offer flexibility for short-term and traditional rental use.
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, remodeled units, each with 2 bedrooms and 1.5 baths; 4,736 square feet on 0.3181 acres; Four of five units have had A/C replaced since 2021
