Concrete-Block Duplex with
For Sale
Under Contract
$369,000
2340 16th Avenue, Vero Beach, FL 32960
ResidentialIncome, Vero Beach, FL
Property Size1,456 SF
Lot Size0.29 Acres
Price / SF$253.43
Days on Market68
Property Features for 2340 16th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
,
Zoning description
Residential
Parking
2
Parking features
Off Street, Assigned, On Street
Patio and Porch features
Porch
Exterior features
Porch
Subdivision
Vero Beach City Of
Lot features
Less Than Quarter Acre
Elementary school district
Indian River County Schools
Middle school district
Indian River County Schools
High school district
Indian River County Schools
Directions
23rd st. to 16th ave.
Standard status
Active Under Contract
APN
33390200001020000011.0
Size
1,456 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
MAP OF THE TOWN OF INDIAN RIVER PBS 2-12 BLK 20 LOTS 11-12
Tax Annual Amount
5066
Legal Description
MAP OF THE TOWN OF INDIAN RIVER PBS 2-12 BLK 20 LOTS 11-12
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
updated kitchens
central air conditioning
in-unit washer and dryer
screened rear porch
private patio
rear parking
Building Details
Year built
1952
Floors in Building
1
Flooring type
Carpet, Laminate
Building materials
Block, Concrete
Roof type
Shingle
Listing Agency:
Alex MacWilliam, Inc.
(772) 231-6509
Listed By:
T.P. Kennedy · License #3377487
(772) 473-2521
Added: Aug 13
Changed: Oct 16
Last Checked: Oct 19 at 3:06AM
MLS# 299318
Copyright © 2026 Realtors Association of Indian River County. 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 1952 concrete-block duplex contains 1,456 square feet across two apartments, each measuring approximately 728 square feet. Both units offer two bedrooms, one bathroom, updated kitchens, central air conditioning, in-unit washers and dryers, screened rear porches, and private patios. Laminate and carpet flooring, shingle roofing, and public water and sewer serve the property.
The 0.29-acre site is in a non-flood zone near downtown Vero Beach and the library. Rear parking is available through the alley, with assigned, off-street, and on-street parking features identified. The property is located in Indian River County, Florida.
The 0.29-acre site is in a non-flood zone near downtown Vero Beach and the library. Rear parking is available through the alley, with assigned, off-street, and on-street parking features identified. The property is located in Indian River County, Florida.
Key Highlights
- Two‑apartment duplex with 1,456 square feet of total building area
- Each apartment is approximately 728 square feet with 2 bedrooms and 1 bathroom
- Updated kitchens, central air conditioning, and in‑unit washer and dryer in each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,812
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$336,240
$336.2K
Cap Rate 7%
$240,171
$240.2K
Cap Rate 9%
$186,800
$186.8K
Market Conditions
NOI Build-Up for 1,456 SF
Gross rent
$25.3K $17.40/SF
− Vacancy
−$1.3K −$0.90/SF
EGI
$24.0K $16.50/SF
− OpEx
−$7.2K −$4.95/SF
NOI
$16.8K $11.55/SF
Area
Indian River County, FL
Vacancy
5.20%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$336,240
Cap Rate 7%
$240,171
Cap Rate 9%
$186,800
Alternative Uses
Best Use
Multifamily LT 5
$240.2K
$210.2K – $280.2K
NOI $16,812 @ 7.0% cap · market cap 4.56%
Second Best
Apartment 5plus
$221.7K
$194.0K – $258.7K
NOI $15,520 @ 7.0% cap · market cap 4.21%
Theoretical Best
Specialty Retail
$319.3K
$279.4K – $372.5K
NOI $22,351 @ 7.0% cap · market cap 6.06%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,702
Businesses Nearby
Explore this area
Business Placement
Demographics for 32960, FL
21,522
Population
11,590
Households
1.9
Avg Household Size
48
Median Age
25%
College-Educated
90%
High-School Grad
11.1 sq mi
ZIP Area
1,939
Density / Sq Mi
$52,350
Median Household Income
$30,236
Median Earnings
$1,171
Median Rent
$254,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two updated apartments include private outdoor areas, central air, and in-unit laundry.
Where is this duplex located?
The property is located at 2340 16th Avenue Vero Beach, FL.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: Two‑apartment duplex with 1,456 square feet of total building area; Each apartment is approximately 728 square feet with 2 bedrooms and 1 bathroom; Updated kitchens, central air conditioning, and in‑unit washer and dryer in each apartment
