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Multifamily

Woodland Condominiums

2513 S 17th St, Fort Pierce, FL 34982

Listing Price: $1,500,000

Cap Rate
6.23%
Number of Units
11
GRM
6.67
Occupancy
96.0%
Price/Unit
$136,364
Price/Gross SF
$123.57
Gross SF
12,139

Investment Overview

Marcus & Millichap, as exclusive listing agent, is proud to present to market 11 condominiums located within the Woodland Condominiums Association located in Fort Pierce, Florida.

The offering consists of 7 two-bedroom / one-bathroom units and 4 one-bedroom / one-bathroom units. The association has 3 buildings totaling 48 units, all of which were built in 1981 with concrete block construction and central air conditioning. All of the roofs were replaced in September of 2021 with metal mansard. Every unit has washer & dryer hookups as well as a private patio/balcony.

Located just south of Virginia Avenue, the property offers access to both Interstate-95 & the Florida’s Turnpike and is also located just down the street from Indian River State College's Massey Campus. The city of Fort Pierce has been experiencing a plethora of development, specifically the King’s Landing project located off of North Indian River Drive in downtown Fort Pierce. This state-of-the-art development will consist of 116 residential units (106 condos and 10 townhomes), a 140-room hotel, 35,000 square feet of restaurant space, 17,000 square feet of retail space, and over 300 parking spaces between a garage and surface spots.

Seller financing is available and being offered at 48% Loan to Value ($715,000) with 5% interest only (IO) for the first three years and then 6% interest only (IO) for the following 3 years.

Investment Highlights

  • Seller Financing Being Offered at 5%
  • Washer & Dryer Hookups & Private Patio/Balcony In Each Unit
  • All Roofs Replaced In September of 2021
  • Located In the Vastly Expanding City of Fort Pierce
  • Central Air Conditioning Throughout

Exclusively Listed By

Financing By

Multifamily

Woodland Condominiums

Listing Price: $1,500,000

Cap Rate
6.23%
Number of Units
11
GRM
6.67
Occupancy
96.0%
Price/Unit
$136,364
Price/Gross SF
$123.57
Gross SF
12,139

Investment Highlights

  • Seller Financing Being Offered at 5%
  • Washer & Dryer Hookups & Private Patio/Balcony In Each Unit
  • All Roofs Replaced In September of 2021
  • Located In the Vastly Expanding City of Fort Pierce
  • Central Air Conditioning Throughout

Investment Overview

Marcus & Millichap, as exclusive listing agent, is proud to present to market 11 condominiums located within the Woodland Condominiums Association located in Fort Pierce, Florida. The offering consists of 7 two-bedroom / one-bathroom units and 4 one-bedroom / one-bathroom units. The association has 3 buildings totaling 48 units, all of which were built in 1981 with concrete block construction and central air conditioning. All of the roofs were replaced in September of 2021 with metal mansard. Every unit has washer & dryer hookups as well as a private patio/balcony. Located just south of Virginia Avenue, the property offers access to both Interstate-95 & the Florida’s Turnpike and is also located just down the street from Indian River State College's Massey Campus. The city of Fort Pierce has been experiencing a plethora of development, specifically the King’s Landing project located off of North Indian River Drive in downtown Fort Pierce. This state-of-the-art development will consist of 116 residential units (106 condos and 10 townhomes), a 140-room hotel, 35,000 square feet of restaurant space, 17,000 square feet of retail space, and over 300 parking spaces between a garage and surface spots. Seller financing is available and being offered at 48% Loan to Value ($715,000) with 5% interest only (IO) for the first three years and then 6% interest only (IO) for the following 3 years.

Exclusively Listed By

Financing By

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