Investment Overview

Marcus & Millichap is pleased to present the Val Apartments, a 36-unit multifamily community located at 1825 40th Avenue, Vero Beach, Florida 32960. Built in 1969, the property consists of six buildings totaling 26,532 square feet and situated on 1.26 acres. The unit mix is comprised entirely of two-bedroom/one-bathroom apartments averaging 737 square feet each. The buildings are of concrete block construction with new pitched composite shingle roofs replaced within the past few years and were recently painted in 2023. All units are equipped with window-unit air conditioning, and the property features three on-site washers and dryers as well as security cameras throughout the premises for resident safety and operational oversight. The Val Apartments benefit from a highly accessible location in central Vero Beach, just minutes from U.S. Highway 1, Downtown Vero Beach, and the beachfront barrier island. The property is surrounded by a diverse mix of retail, dining, and service amenities, including Indian River Mall, Cleveland Clinic Indian River Hospital, and Vero Beach High School—all major employment and activity drivers in the area. The immediate neighborhood has experienced steady population and rent growth, driven by Vero Beach’s expanding economy and continued in-migration of residents seeking affordable coastal living. Ongoing redevelopment throughout the U.S. 1 corridor and planned infrastructure improvements further position this submarket for continued appreciation. The Val Apartments offer investors the opportunity to acquire a well-located, stable multifamily asset in one of Florida’s fastest-growing coastal communities, with upside potential through interior upgrades and rent optimization in a supply-constrained market.