642 & 646 Eldorado Street

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642 & 646 Eldorado Street

Fort Pierce, FL 34949
Asking Price
$2.40M
Asset Type
Multifamily
Class
Class B

What's Special

642 & 646 Eldorado Street is a multifamily opportunity located in a residential pocket of Fort Pierce, Florida. The property is situated less than two miles from the historic downtown waterfront and the Indian River Lagoon, providing proximity to local boutiques, dining, and city offices. The location offers functional transportation access via nearby US-1 and North 25th Street, connecting the site to regional employment hubs and the wider Treasure Coast area. Educational facilities, including the Indian River State College campus, are located within a short drive of the address. The asset is suited for long-term rental operations targeting a workforce housing demographic. Its central location makes it a viable option for a typical tenant profile consisting of local service workers, healthcare professionals at nearby medical centers, and young professionals seeking proximity to downtown amenities. The property layout supports stable residential occupancy in an area characterized by consistent demand for mid-range housing options. Due to its positioning in a growing coastal municipality, the site is an appropriate fit for established investors focusing on multi-unit residential management.

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NOI
$80,000
Cap Rate
3.33%
DSCR
0.56
Underwater
Cash-on-Cash
-8.68%
Monthly Payment
$11,873.891
Annual Cash Flow
$-62,486.686

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