Bought with Boyd Bradfield • NAI Southcoast
$850,000
$925,000
8.1%For more information regarding the value of a property, please contact us for a free consultation.
7,840 Sqft Lot
SOLD DATE : 07/16/2024
Key Details
Sold Price $850,000
Property Type Commercial
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Subdivision Bessey Add
MLS Listing ID M20041463
Sold Date 07/16/24
Construction Status Resale
Year Built 1925
Annual Tax Amount $5,250
Tax Year 2022
Lot Size 7,840 Sqft
Acres 0.18
Property Description
Location, location, location! Rare opportunity to acquire a two-story, 6-unit multifamily building in the very desirable Bessey Point neighborhood.
The first floor consists of four (4) studio units that are currently rented at $1,200 per month. The second story consists of two (2) 2-bedroom, 1-bathroom units that are currently rented at $1,500 per month. Average rent for a 1-bedroom in Area 8 (Stuart Proper) is $1,630 while average rent for a 2-bedroom is $1,938, leaving significant upside for an investor to realize.
Both water and electric are on a master meter with all utilities paid by landlord. The upstairs units each have a split AC system, while the downstairs apartments have window units. A washer-dryer hookup is available, but is currently not connected.
Conveniently located within a 5-minute walk of the St. Lucie River and Downtown Stuart with over 50 world class and locally owned shops, restaurants, boutiques, art galleries, a riverside boardwalk, and more!
Location
State FL
County Martin
Area 8-Stuart N Of Indian St
Interior
Heating Wall Furnace
Cooling Ceiling Fan(s), Wall/ Window Unit(s)
Fireplace No
Exterior
Total Parking Spaces 8
Building
Story 2
Construction Status Resale
Others
Tax ID 053841001000012106
Ownership Fee Simple
Financing Cash
Special Listing Condition Listed As- Is
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