702 15Th St Fort Pierce, FL 34950

Property Details for 702 15Th St

Property size

15,017 SF

Property type

Residential income homes

Description

This exceptional investment opportunity presents a portfolio of eight rental units in Fort Pierce, Florida, comprising five buildings totaling 15,017 square feet. The portfolio includes a quad-plex featuring a mix of one-, two-, and three-bedroom units, and four additional single-family homes. The property boasts a current 100% occupancy rate, generating a substantial pro-forma net operating income (NOI) of $72,000, resulting in an attractive pro-forma cap rate of 22.64%. The asking price is $318,000, translating to $39,750 per unit and $21.18 per square foot. Individual unit sizes vary, ranging from approximately 840 square feet to 1,342 square feet. The property's location in Fort Pierce offers strong rental demand, making this a compelling investment for those seeking high returns and stable cash flow. This turnkey portfolio requires minimal management, offering a streamlined approach to real estate investment. The individual addresses within the portfolio are strategically located throughout Fort Pierce, offering diversification within the investment. This is a rare opportunity to acquire a well-performing multifamily portfolio in a growing market. The current rental income provides immediate cash flow, and the potential for future rent increases further enhances the investment's long-term value.