Waterfront Multifamily with 7
433 Southeast Lake Street Stuart, FL 34994
433 Southeast Lake Street, Stuart, FL, 34994
$950,000
For Sale
$950,000
A 7-unit multifamily property with waterfront pond views and a concrete driveway, recently renovated in 2023.
Property Size2,947 SF
Price / SF$322.36
Days on Market155
Property Features for 433 Southeast Lake Street
General Information
- Standard status
- Active
- Size
- 2,947 SF
- Property subtype
- MultiFamily Apartments
Building Details
- Year Built
- 1926
Listing agency
Remax Commercial
(772) 323-7037
Listed by
Rosi Shepard · License #3320083
(772) 323-7037
Source
Thebrokerlist
Added: Feb 18 Updated: Jul 22 at 10:14PM Checked: Jul 22 at 10:14PM
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 Remax Commercial
Investment Insights
Based on property information with market context.
This multifamily property includes a total of 7 units within a 2,947 SF building. The property was renovated in 2023 and consists of a mix of 3 newer units and 4 updated units. Exterior improvements include metal roofs designed for durability, and the site features a concrete driveway to support on-site parking.
The property is located on a quiet street with a waterfront pond view, offering a calm residential setting.
All 7 units are described as currently occupied, representing full occupancy at the time of listing.
The property is located on a quiet street with a waterfront pond view, offering a calm residential setting.
All 7 units are described as currently occupied, representing full occupancy at the time of listing.
Key Highlights
- 2,947 SF multifamily building with 7 units, all currently 100% occupied
- Renovated in 2023 with a unit mix of 3 new units and 4 updated units
- Waterfront setting with pond views
Local 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 | $70.0k | $23.76 |
| − Vacancy | −$4.6k | −$1.57 |
| EGI | $65.4k | $22.19 |
| − OpEx | −$29.4k | −$9.99 |
| NOI | $36.0k | $12.21 |
2,947 SF · lease $23.76/SF/yr · vacancy 6.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$513.9K
$449.6K – $599.5K
NOI $35,970 @ 7.0% cap · market cap 3.79%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$774.2K
$677.4K – $903.2K
NOI $54,194 @ 7.0% cap · market cap 5.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - A 7-unit multifamily property with waterfront pond views and a concrete driveway, recently renovated in 2023.
Where is this apartment building located?
The property is located at 433 Southeast Lake Street Stuart, FL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 2,947 SF multifamily building with 7 units, all currently 100% occupied; Renovated in 2023 with a unit mix of 3 new units and 4 updated units; Waterfront setting with pond views
