*This property has been pre-qualified for private financing with one of our preferred private lenders*
This 21-room multifamily property with a 2 bed / 2 bath manager's house located in Fort Pierce, FL features a pool, expansive yard space, and a common area for food service and lounge.
The interior and exterior of the property was previously renovated back in 2015 with additional improvements taking place during 2021 that will include a new septic and landscaping. Completed improvements include a new roof and a freshly painted exterior.
There is a motel license in place that makes for quick 1 day evictions, plus the benefit of zero headaches with an on-site property manager. However, you could have a professional property management company take over and rent the house out for additional income. (The current property manager lives on the property for free).
The property is operated as an extended stay with units being rented at weekly rates from $300-375 a week.
With over $28,000 a month in its as-is condition, this property is grossing well over 300k a year and showing a solid 10+% net Pro-forma return.
Properties like these are highly sought after... call your EquityPro advisor today before it's too late!