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Ibis Apartments of Vero Beach 19 th Place, Vero Beach, FL Martin Goldstein Russell Goldstein 561-310-0935 561-503-3648 The-Goldstein-Group.com
Ibis Apartments of Vero Beach19th Place, Vero Beach, FL
Martin Goldstein Russell Goldstein561-310-0935 561-503-3648 The-Goldstein-Group.com
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.
Martin Goldstein Russell Goldstein561-310-0935 561-503-3648 The-Goldstein-Group.com
Ibis Apartments of Vero BeachOverview
“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.”
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:
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
Intracoastal Waterway
Hutchinson Island
Martin Goldstein Russell Goldstein561-310-0935 561-503-3648 The-Goldstein-Group.com
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 BeachOverview
Port St. Lucie, Fort Pierce, Palm Beach County, Miami
Martin Goldstein Russell Goldstein561-310-0935 561-503-3648 The-Goldstein-Group.com
Ibis Apartments of Vero BeachDetailed Location Map
Intracoastal Waterway
Ibis Apartments
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.
Fresh Market
McDonald’s
Martin Goldstein Russell Goldstein561-310-0935 561-503-3648 The-Goldstein-Group.com
Offered at $3,499,000
16.71% Cash-on Cash Return!
7.18% Capitalization Rate
Ibis Apartments of Vero BeachOverview
Martin Goldstein Russell Goldstein561-310-0935 561-503-3648 The-Goldstein-Group.com
Martin Goldstein Russell Goldstein561-310-0935 561-503-3648 The-Goldstein-Group.com
Martin Goldstein Russell Goldstein561-310-0935 561-503-3648 The-Goldstein-Group.com
Martin Goldstein Russell Goldstein561-310-0935 561-503-3648 The-Goldstein-Group.com
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
561-310-0935
Russell Goldstein
561-503-3648
