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Catherine Calix

catherine.calix@engelvoelkers.com +1(941) 585-8876

$ 359,999

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Pending

1706 AVENUE D Fort Pierce, FL 34950

5 Beds

4 Baths

1,700 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Pending

Purchase Type For Sale

Square Footage 1,700 sqft

Price per Sqft $211

Subdivision Courtney Terrace Sub

MLS Listing ID TB8489404

Bedrooms 5

HOA Y/N No

Year Built 1951

Annual Tax Amount $3,835

Lot Size 4,356 Sqft

Acres 0.1

Property Sub-Type Quadruplex

Source Stellar MLS

Property Description

Under contract-accepting backup offers. Investors and creative financing enthusiasts, this multi-family property presents a compelling opportunity to build immediate cash flow with significant upside potential. This four-unit building features three one-bedroom/one-bathroom units and one two-bedroom/one-bathroom unit, offering a total of five bedrooms and four bathrooms across the property. The Upside: The numbers speak for themselves. One-bedroom units command $1,100 per month, while the two-bedroom unit can achieve $1,250 to $1,300 monthly. Fully occupied, total potential revenue reaches $4,550 - $4600 per month against a mortgage of just $2,467.40, yielding an estimated gross cash flow exceeding $2,082 monthly. Unit 2 is currently occupied and generating $1,100 in rental income. All appliances are included, the water heater was replaced in 2023, and most window AC units have been updated since 2023. Utilities operate on a single meter, and the seller currently covers rodent and pest control monthly—a manageable expense for the next owner to assume. Potential Cap Rate of 12% and COC of 5.8%. The Work Needed: This property is livable with no major structural concerns, though it does present cosmetic and minor repair opportunities. The floor in Unit 4's main room has some sloping. Window upgrades throughout the building would enhance efficiency and curb appeal. The back porch stairs could be redone, and Unit 2 has a bedroom window replaced with plexiglass and bars. Units 1, 3, and 4 are currently vacant and ready for turnover improvements to maximize rental potential. The Opportunity: The seller is actively entertaining all creative financing offers, including seller financing and other flexible deal structures. This is a rare chance to acquire a cash-flowing multi-family asset with built-in equity upside through strategic renovations. Whether you are a seasoned investor or building your portfolio, this property deserves your immediate attention. Bring your best creative offer today. No assignable contracts.

Location

State FL

County St Lucie

Community Courtney Terrace Sub

Area 34950 - Fort Pierce

Zoning NEIGHBORHO

Interior

Interior Features Solid Surface Counters, Solid Wood Cabinets

Heating None, Ductless

Cooling Wall/Window Unit(s)

Fireplace false

Laundry None

Exterior

Exterior Feature Private Entrance

Utilities Available Public

Roof Type Shingle

Garage false

Private Pool No

Building

Foundation Brick/Mortar

Lot Size Range 0 to less than 1/4

Sewer Public Sewer

Water Public

Structure Type Block,Concrete

New Construction false

Others

Senior Community No

Ownership Fee Simple

Acceptable Financing Cash, Owner Financing

Listing Terms Cash, Owner Financing

Special Listing Condition None

Virtual Tour https://www.propertypanorama.com/instaview/stellar/TB8489404

Listed by KEVIOUS DOUGLAS, LLC RICHARD PETERS REALTY LLC

NEARBY SCHOOLS & PROPERTIES

Catherine Calix

Real Estate Advisor

+1(941) 585-8876

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