1150 Old Dixie SW Hwy Vero Beach, FL 32962-5611

Property Details for 1150 Old Dixie SW Hwy

Lot size

1.65 lot acres

Zone code

CH

Property type

Commercial land

APN

33-40-30-00000-3000-00027.0

APU

9223372036854775807

Description

This exceptional investment opportunity presents a five-unit property situated at 1150 Old Dixie Highway in Vero Beach, Florida, 32960. The property, built in 1910, comprises two buildings and is offered at an attractive price of $475,000 – less than $100,000 per unit. Four of the five units are currently occupied by month-to-month tenants, providing immediate income potential. One unit is vacant and is being utilized as a model unit, ready for immediate rental. While the property offers excellent income potential, prospective buyers should be aware that it requires exterior repairs, and updates to the plumbing and electrical systems are recommended. The roofs were replaced in 2013. The property benefits from a highly desirable location within walking distance of Publix and other retail establishments. Importantly, the property is zoned commercial, offering flexibility for future development or continued operation as a multi-family investment. The owner's recent illness has led to some deferred maintenance and necessitates the sale. This presents a unique chance to acquire a well-located, income-producing property with significant upside potential. Please note that tenants should not be disturbed.