Bought with Non-Member Selling Office
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Key Details
Sold Price $7,000,000
Property Type Commercial
Sub Type MultiFamily (5+ Units)
Listing Status Sold
Purchase Type For Sale
Square Footage 41,730 sqft
Price per Sqft $167
Subdivision Palm City Amended Plat Of & Map Of
MLS Listing ID RX-10927120
Sold Date 01/26/24
Year Built 1985
Annual Tax Amount $11,314
Tax Year 2023
Lot Size 3.620 Acres
Property Description
Rare investment opportunity in Old Palm City historic district. This 48-unit multi-family property consisting of 36 one-bedroom and 12 two-bedroom units has been meticulously cared for and updated. With renovations completed from 2021-2023, this property boasts new standing seam metal roofs on all buildings, impact windows and doors throughout, and state-of-the-art water conditioning systems for three of the five buildings. Over 50% of the units have been recently updated with new tile floors and wood cabinets. Within walking distance from the St. Lucie River, Palm City Apartments is close to schools, the Cleveland Clinic, Interstate 95, and the Florida Turnpike. Its apartments have maintained 100% occupancy for the past five years and continue to be in high demand. This turnkey, low-mai
Location
State FL
County Martin
Area 9 - Palm City
Zoning RS-4
Interior
Heating Central Individual
Cooling Central Individual
Flooring Carpet, Tile
Fireplaces Type Smoke Detector
Exterior
Utilities Available Well Water
Waterfront No
Roof Type Metal
Building
Story 100.00
Foundation Concrete
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
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