Bought with Coldwell Banker Paradise
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2509 Avenue L Fort Pierce, FL 34950
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Key Details
Sold Price $80,000
Property Type Commercial
Sub Type MultiFamily (5+ Units)
Listing Status Sold
Purchase Type For Sale
Square Footage 2,982 sqft
Price per Sqft $26
Subdivision H J Kincy'S S/D.
MLS Listing ID RX-10155556
Sold Date 09/17/15
Construction Status Resale
Year Built 1954
Annual Tax Amount $1,037
Tax Year 2014
Lot Size 0.390 Acres
Property Sub-Type MultiFamily (5+ Units)
Property Description
THIS IS NOT A MISTAKE!!! FIVE RENTAL HOMES FOR $89,000 TOTAL PRICE!!!! EACH HOUSE IS CONCRETE BLOCK BUILT IN 1954; ALL TWO BEDROOM, ONE BATH HOMES. SEE ATTACHMENT FOR BREAKDOWN OF ADDRESSES, SQUARE FOOTAGE, RENTS AND INCOME/EXPENSE SUMMARY. SIZES VARIES FROM 552 SF TO 716 SF PER HOUSE. RENTS ARE VERY LOW DUE TO SUBSTANTIAL DEFERRED MAINTENANCE NEEDED; CURRENTLY RENTING AT $350 PER MONTH. TWO OF THE FIVE TENANTS HAVE BEEN THERE OVER 10 YEARS! CASH CONTRACTS ONLY. MUST BE SOLD AS A PACKAGE. FIVE (5) ELECTRIC METERS, FIVE (5) WATER METERS; TENANTS PAY THEIR OWN UTILITIES. GREAT OPPORTUNITY TO REHAB THESE PROPERTIES AND INCREASE RENTS. CURRENTLY GENERATING OVER 12% CAP RATE!
Location
State FL
County St. Lucie
Area 7070
Zoning C-3 COM.
Interior
Heating No Heat
Cooling None
Flooring Concrete
Fireplaces Type None
Exterior
Community Features None
Utilities Available 110, Public Sewer, Public Water
Waterfront Description None
Roof Type Comp Rolled
Present Use None
Building
Foundation CBS
Construction Status Resale
Others
Security Features None
Acceptable Financing Cash
Listing Terms Cash
Financing Cash
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