Vero Beach Multifamily Income
915 Turtle Cove Ln Vero Beach, FL 32963
For Sale
$900,000
Income-producing multifamily property near beach access in Vero Beach.
Property Size2,400 SF
Price / SF$375
Days on Market99
Property Features for 915 Turtle Cove Ln
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Investment
Building Details
Year Built
1988
Listing Agency:
The Keyes Company
(754) 231-7694
Listed By:
Vinod Itty
(754) 231-7694
Source:
Elliman
Added: Apr 22
Changed: Jul 10
Last Checked: Jul 22 at 1:21PM
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 The Keyes Company
Investment Insights
Based on property information with market context.
This multifamily income-producing property is located on Vero Beach's barrier island. The concrete block property is fully rented and includes a 2-bedroom/2-bath unit, a 2-bedroom/1-bath unit, and a private efficiency with its own kitchen and bath. All leases are month-to-month, providing flexibility to adjust rents, reposition units for seasonal or short-term use, or continue collecting steady cash flow. Deeded beach access is located half a block away via a private walkway to one of the Treasure Coast's accreting beaches. The property has RM-10/12 zoning and a total living space of 2,400 square feet. It is located close to South Beach dining, Publix, Fresh Market, and Ocean Drive's boutique shops. The bike score is 61, indicating it is bikeable, and the walk score is 18, indicating it is car-dependent.
Key Highlights
- Income‑producing multi‑family property on Vero Beach's barrier island
- Month‑to‑month leases provide flexibility
- Deeded beach access via private walkway
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 | $49.0k | $20.40 |
| − Vacancy | −$2.4k | −$1.02 |
| EGI | $46.5k | $19.38 |
| − OpEx | −$20.9k | −$8.72 |
| NOI | $25.6k | $10.66 |
2,400 SF · lease $20.40/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$365.5K
$319.8K – $426.4K
NOI $25,582 @ 7.0% cap · market cap 2.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$526.3K
$460.5K – $614.1K
NOI $36,843 @ 7.0% cap · market cap 4.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Multifamily property - Income-producing multifamily property near beach access in Vero Beach.
Where is this multifamily property located?
The property is located at 915 Turtle Cove Ln Vero Beach, FL.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Income‑producing multi‑family property on Vero Beach's barrier island; Month‑to‑month leases provide flexibility; Deeded beach access via private walkway
