601 Ocean Dr Fort Pierce, FL 34949
- Commercial real estate
- 0.46 lot acres
Current Use by Public Records
- Sea House Apartments / Apartment Building
Property Details for 601 Ocean Dr
- Year built
- 1950
- Lot size
- 0.46 lot acres
- Property type
- Commercial real estate
- APN
- 2401-502-0020-000-4
Description
This exceptional 12-unit apartment building, located at 601 S Ocean Dr, Fort Pierce, FL 34949, presents a compelling investment opportunity. The property, built between 1950 and 1952, sits on a 0.46-acre lot and boasts a desirable R-4A zoning designation. The two-story building comprises a diverse unit mix: two 2-bedroom/2-bathroom units, three 1-bedroom/1-bathroom units, and seven efficiently designed units. Currently generating a gross annual income of $225,000, this translates to a price per unit of $266,667. The asking price for the entire complex is $3,200,000. Its prime location along the Atlantic coast in Fort Pierce offers significant potential for high rental demand, making it attractive to both long-term tenants and vacation renters. The property's strong cash flow, combined with its desirable location and unit mix, makes it an ideal addition to any investment portfolio. The APN is 2401-502-0020-000-4. This is a rare chance to acquire a well-established multifamily property in a thriving coastal community. Don't miss this opportunity to secure a piece of Florida's vibrant real estate market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fort Pierce
- County
- St. Lucie
- State
- Florida
- Longitude
- -80.290254
- Latitude
- 27.4629046
