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1150 Carlton Ct
Fort Pierce, FL 34949
Casa Playa Apartments · Multifamily Property For Sale
·
6 Units
Investment Highlights
- Fully Renovated, Low Near-Term Capital Risk
- Coastal South Hutchinson Island Location
- Immediate Lease-Up With No Rollover Risk
Executive Summary
1150 Carlton Court is a six-unit multifamily property located in Fort Pierce, Florida. The asset consists of a single residential building totaling approximately 5,272 square feet situated on a ±0.25-acre parcel. Originally constructed in 1963, the property has recently completed a comprehensive renovation program and is positioned as a turnkey investment opportunity. The property is comprised of four one-bedroom, one-bathroom units and two two-bedroom, one-bathroom units. All units are currently vacant, providing an investor the ability to implement an immediate lease-up strategy at prevailing market rents without tenant displacement or rollover risk. This property enjoys no restrictions on Short-Term Rentals in this municipality, presenting an exciting opportunity for those strategies.
At an offering price of $2,350,000, the property is offered at an approximate 6.43% capitalization rate based on stabilized net operating income with annual tenants. Fort Pierce is located within Florida’s Treasure Coast region, an area that continues to benefit from population growth, in-migration, and relative affordability compared to South Florida coastal markets. The region attracts renters seeking coastal access, lifestyle amenities, and housing costs below those found in Palm Beach and Broward counties. The local economy is supported by healthcare, education, public sector employment, logistics, and tourism. Ongoing public and private investment initiatives throughout downtown Fort Pierce and the surrounding waterfront corridor continue to enhance the area’s long-term demand fundamentals. Multifamily demand across the Treasure Coast remains supported by household growth, limited coastal land availability, and a slowdown in new multifamily construction relative to recent delivery cycles.
At an offering price of $2,350,000, the property is offered at an approximate 6.43% capitalization rate based on stabilized net operating income with annual tenants. Fort Pierce is located within Florida’s Treasure Coast region, an area that continues to benefit from population growth, in-migration, and relative affordability compared to South Florida coastal markets. The region attracts renters seeking coastal access, lifestyle amenities, and housing costs below those found in Palm Beach and Broward counties. The local economy is supported by healthcare, education, public sector employment, logistics, and tourism. Ongoing public and private investment initiatives throughout downtown Fort Pierce and the surrounding waterfront corridor continue to enhance the area’s long-term demand fundamentals. Multifamily demand across the Treasure Coast remains supported by household growth, limited coastal land availability, and a slowdown in new multifamily construction relative to recent delivery cycles.
Property Facts
| Price Per Unit | $534,202 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.25 AC |
| Cap Rate | 6.43% | Building Size | 5,272 SF |
| Sale Condition | High Vacancy Property | Average Occupancy | 0% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1963/2026 |
| Property Subtype | Apartment | Parking Ratio | 3.6/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | HI Medium - HI Medium | ||
| Price Per Unit | $534,202 CAD |
| Sale Type | Investment |
| Cap Rate | 6.43% |
| Sale Condition | High Vacancy Property |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 5,272 SF |
| Average Occupancy | 0% |
| No. Stories | 2 |
| Year Built/Renovated | 1963/2026 |
| Parking Ratio | 3.6/1,000 SF |
| Zoning | HI Medium - HI Medium |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Heating
- Kitchen
- Refrigerator
- Range
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | - | 5,272 |
| 1+1 | 4 | - | 5,272 |
Property Taxes
| Parcel Number | 24-01-501-0323-0005 | Improvements Assessment | $670,242 CAD |
| Land Assessment | $503,501 CAD | Total Assessment | $1,173,743 CAD |
Property Taxes
Parcel Number
24-01-501-0323-0005
Land Assessment
$503,501 CAD
Improvements Assessment
$670,242 CAD
Total Assessment
$1,173,743 CAD
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