1443 19Th Pl Vero Beach, FL 32960

Property Details for 1443 19Th Pl

Year built

1918

Lot size

0.21 lot acres

Property type

Residential income homes

Description

This exceptional multifamily investment opportunity presents a beautifully restored 1918 historical home in Vero Beach, Florida. The property boasts eight units, including a two-bedroom, one-bathroom apartment and a detached studio, all benefiting from recent capital improvements completed in 2022. These upgrades encompass a new roof, insulation, upstairs windows, termite treatment with warranty, new bathrooms, new hardwood floors upstairs, and updated finishes throughout. The property also features a large, 1500 square foot wrap-around porch and a 400 square foot retail space, previously used as a commercial space. The 0.21-acre lot provides ample space and includes ten dedicated parking spots, supplemented by street parking and a nearby public lot. The property's mixed-use zoning allows for both residential and commercial uses, making it ideal for a variety of income-generating strategies. Its prime location in downtown Vero Beach, just steps from restaurants, shops, and art galleries, and 20 minutes from the beach, ensures high occupancy rates. The property's strong financial performance is reflected in its 10.09% cap rate and $131,153 NOI. The asking price is $1,300,000, with a price per unit of $162,500. This property offers a unique blend of historical charm, modern amenities, and significant income potential, making it an attractive investment for discerning buyers. The property is conveniently located near major roadways, including I-95 and the Florida Turnpike. The building consists of two structures.