1825 14th Ave, Vero Beach FL 32960 Multi-Family
For Sale
$1,500,000
Property Highlights
| Price | $1,500,000 | Lot Size Acres | 0.46 acres |
| Cap Rate | 7.14% | No. Stories | 1-2 |
| Sale Type | Amortized | Year Built | 1940 |
| Total Assessment | $622,717 | NOI | $107,116 |
| Property Type | Multi Family | Occupancy | 95.00% |
| Ownership Type | Fee Simple | Number of Units | 22 Units |
| Building Class | C | Opportunity Zone | No |
| Lot Size | 9,426 sq ft |
ABOUT
1825 14th Ave, Vero Beach FL 32960 Multi-Family
22 Units Multi-Family Property located in Downtown Vero Beach 21 Units currently occupied with long term tenants in place generating cash flow and waiting for new Investors to take over. Property offers value add opportunity to buyers with possible renovations and increase the rents. Leases including Water/Sewer and Garbage and Power except a few tenants pays their Power excluded to lease. New Investor can add significant value to property with renovation project and exclude the utilities along with rental increase to market value. Vero Beach market has High demand for rental apartments average rental rates between $.95 to $1.5 per sqf in the area, 47,500 Population and over $50k Median Household Income within 3 Miles the property located, walking distance to Vero Beach High School and Retail Shopping Centers and 5 minutes to Beaches. Indian River County Economic Base multiplier is score 4.87 and Agricultural, Retail Trade, Construction, Real Estate and Health Care-Social Assistance services of regional shift greater than National Growth rate.
Ozan Cifci
Listing Agent