2221 42Nd St Fort Pierce, FL 34946

Property Details for 2221 42Nd St

Property size

840 SF

Property type

Residential income homes

Description

This exceptional investment opportunity in Fort Pierce, Florida, consists of a diverse portfolio of eight rental units, offering significant potential for strong returns. The portfolio includes a four-unit quad-plex located at 702 N. 15th St., Fort Pierce, FL 34950, featuring a mix of one, two, and three-bedroom units, totaling 1,278 square feet. Additionally, the portfolio comprises four single-family homes: a three-bedroom, one-bathroom home with a den at 513 N. 43rd St., Fort Pierce, FL 34947 (1,342 sq ft); a three-bedroom, one-bathroom home at 1405 N. 22nd St., Fort Pierce, FL 34950 (1,236 sq ft); a three-bedroom, two-bathroom home with a large den at 2105 Ave. Q, Fort Pierce, FL 34950 (1,321 sq ft); and a three-bedroom, one-bathroom home situated on a corner lot at 2221 N. 42nd St., Fort Pierce, FL 34947 (840 sq ft). The entire portfolio boasts a total of 8 units and 840 net rentable square feet, currently operating at 100% occupancy. The asking price is $185,500, representing a price per square foot of $220.83 and a pro-forma cap rate of 11.00%, with a projected net operating income (NOI) of $20,400. This portfolio presents a compelling investment opportunity for discerning buyers seeking immediate cash flow and long-term appreciation in a thriving Florida market. The individual unit rental estimates range from $1,700 to $1,999 for the single-family homes and $6,000 for the quad-plex. This information is based on estimates and should be independently verified.