Ibis Apartments of Vero Beach 19 th Place, Vero Beach, FL
Ibis Apartments of Vero Beach Overview These 44 units, encompassing an entire neighborhood block directly adjacent to US Hwy 1 in beautiful Vero Beach FL, are an excellent investment opportunity in today s multifamily market. Affordable in both price and rental rates, ideally located, and professionally managed, this closely grouped portfolio offers a diverse and easily marketable unit mix, as well as excellent value to tenants in the form of updated interiors and a quiet, secluded surrounding area. All tenants have been fully screened and vetted before move-in, ensuring reliable and sustainable cash flow over the near and long terms. Vero Beach is conveniently situated within driving distance of Palm Beach County, Fort Pierce, Port St. Lucie, Orlando, and Daytona Beach. This makes it a popular travel destination for people vacationing in Florida, as well as locals seeking the beautiful Atlantic-Coast lifestyle combined with a slightly lower population density than the remainder of Coastal South Florida. These factors combine to make Vero a very popular market in which to invest. South Florida overall has seen significant population growth in recent years, as hundreds of thousands of new residents move from all over the U.S. to enjoy lower cost of living, temperate climate, and unmatched access to the Beach and all that the region has to offer. According to a widely-quoted, well-respected quarterly report last published in June 2017 by the University of Central Florida s Institute for Economic Competitiveness: Economic and job growth in Florida are forecasted to continue to outperform the U.S. labor market and more Baby Boomers continue to reach the end of their working lives. This bodes well for continued population growth via the in-migration of retirees and job seekers to Florida. The population of Florida is also growing naturally, as birth rates exceed death rates. In addition to these sources of domestic population growth, international immigration will also feed into the state s population growth. With population growth comes increased demand for affordable, quality rental housing. Robust CBS construction ensures long-term reliability and relative ease of maintenance over the long term.
Ibis Apartments of Vero Beach Overview Ibis Apartments Hutchinson Island Intracoastal Waterway Port St. Lucie, Fort Pierce, Palm Beach County, Miami Asset Overview: 7.18% Capitalization Rate! Leveraged Return nearly 17%! List Price: 3,499,000 705, 715, 716, 716, 726, & 736 19th Pl Vero Beach 44 Units 40 1BR 1BA Units 4 2BR 2BA Units A host of new updates to interior and exterior including: Diverse and easily marketable unit mix. Fully operating and occupied Quiet, off-street location still in close proximity to US HWY 1 Property encompasses nearly the entire block! Excellent central location very close to historic Downtown Vero Beach. Professionally managed and maintained. Excellent capitalization rate, combined with massive near and long term upside. Multifamily in this area has heavily benefited from northward-moving population growth, as quality tenants are priced out of the Miami and FTL/Palm Bch County markets. Larger concentrations of units such as this are becoming increasingly scarce as institutional investors and REITs aggressively purse them off-market for long-term hold investments.
Ibis Apartments of Vero Beach Detailed Location Map Hutchison Island Downtown Vero Beach: Offering many dining and entertainment options, as well as local retailers of all kinds and sizes. This area acts as a huge social, entertainment and employment center for the local population. Numerous national brands as denoted on this map, have established locations nearby. McDonald s Martin Goldstein 561-310-0935 Fresh Market Intracoastal Waterway Ibis Apartments Russell Goldstein 561-503-3648
Ibis Apartments of Vero Beach Overview Offered at $3,499,000 7.18% Capitalization Rate 16.71% Cash-on Cash Return!
Contact Listing Agents For more information or to schedule a property tour please do not hesitate to contact us at the numbers and/or email addresses below: Martin Goldstein, Lic. Real Estate Broker Martin@TheGoldsteinRealEstateGroup.com 561-310-0935 Russell Goldstein Russell@TheGoldsteinRealEstateGroup.com 561-503-3648