Maxiplex St. Lucie Villages Martin Goldstein 561 …...This 28 unit portfolio is fully CBS, meaning...

Maxiplex St. Lucie VillagesMartin Goldstein 561-310-0935

Russell Goldstein561-503-3648

28 Single- and Multi-Family Units, HUGE Rental Upside

Fort Pierce FL

Comprising 28 fully updated units, tightly grouped throughout one of South Florida’s most fundamentally solid Class C and C+ multifamily markets, the Maxiplex St. Lucie Villages are an ideally located, standout opportunity with little to no deferred maintenance (ex. - new roofs on nearly all properties), a vetted, professionally selected and serviced tenant base, excellent upside over the near and long term, and the structural longevity to provide reliable cash flow for years to come.

Concrete block construction is a cornerstone of what makes Florida such an excellent place to invest. The longevity, sturdiness, and extremely low-maintenance nature of these structures means they are extremely well-suited for use in all types of residential and commercial applications. This 28 unit portfolio is fully CBS, meaning virtually ZERO deferred maintenance over the long term.

The Fort Pierce job market offers its greatest number of employment opportunities to people in or around this rental sector – quality, affordable, well-maintained rental housing. Light industry, shipping, construction, and other forms of skilled labor make up a large portion of the job market. Moreover, current rents for this property are well below market, which an easily achievable 10-15% upside over the next 6-12 months. The area also offers easy access to Florida’s famous Atlantic coast and beaches.

A combination of plentiful employment opportunities, accessible coastal living, and a quiet, relaxed pace of life is not found elsewhere on South Florida’s East Coast. An excellent balance of economic activity, growth, and a relative lack of congestion means that Vero Beach is experiencing steady, sustainable population growth as people move up from Florida’s historically overcrowded East Coast cities.

This turnkey portfolio of assets is a unique opportunity not often found in today’s extremely tight real estate market, and one that will offer reliable cash flow for years to come.

Martin Goldstein Russell Goldstein

561-310-0935 561-503-3648 The-Goldstein-Group.com

Maxiplex St. Lucie VillagesOverview

Maxiplex St. Lucie VillagesHighlights and Location Map

Asset Overviewo Current Cap Rate: 8.58%o Market Rents Cap Rate: over 9%!!o Price: $2,750,000.00o 28 Units Total

o 23 2BR 1BAo 5 3B 2 BA

o HUGE RENTAL UPSIDEo Addresses: See Mapo New roofs and significant interior and exterior

updates throughouto Renovations throughout! Including:

o New kitchens and applianceso New flooring and finisheso New bathroom vanities, toilets, tubs

and fixtureso 100% Occupied!o Excellent growth prospects for this areao Excellent fundamentals.

o Strategically below Market Rents!o Low maintenance CBS constructiono Desirable, central locationo Excellent long term growth

prospectso Centrally located to all that the area has to

offer!o Downtown Fort Pierceo Beautiful coastal recreationo Hutchinson Island, Stuart

o Accessible too Palm Beach and Miamio Orlando and Melbourne

o All long term tenants.o Also located close to:

o US HWY 1o I-95o Florida’s Turnpike

o Excellent operating history, easily finance-able!

o Excellent capitalization rate for this market with massive near and long term rental rate upside.



Lakewood Regional Medical Center

Hutchinson Island ( Well-known Upscale Coastal Community)

Treasure Coast International Airport

Intracoastal Waterway

Indian River St College

Maxiplex St. Lucie Villages Radius

Downtown Ft Pierce

Address and Unit Count

Maxiplex St. Lucie VillagesFinance – Analysis at Current Rents



Current Cap Rate: 8.58%

Current Cash on Cash: 21.72%

Offered at $2,750,000.00

Address # of Units Total SFAvg Unit

Size Monthly Gross Inc RE Taxes R+M Landscaping Insurance MGT Total Expenses NOI

15 Ave T 15 9,625 642 12,225.00 146,700.00$ 12,200.00$ 7,500.00 3,000.00 8,863.00 7,300.00 38,863.00$ 107,837.00$

2008 47th Avenue 1 925 925 1,200.00 14,400.00$ 1,478.00$ 500.00 1,200.00 867.00 700.00 4,745.00$ 9,655.00$

607 N 19th St 1 1,100 1100 1,100.00 13,200.00$ 1,631.00$ 500.00 1,200.00 786.00 650.00 4,767.00$ 8,433.00$

2008 51st Ct 1 966 966 1,200.00 14,400.00$ 1,100.00$ 500.00 1,200.00 867.00 700.00 4,367.00$ 10,033.00$

613 6th Ave 2 1,300 650 3,000.00 36,000.00$ 1,789.00$ 1,000.00 1,200.00 1,194.00 900.00 6,083.00$ 29,917.00$

2813 Anne St 2 2,296 1148 2,400.00 28,800.00$ 3,028.00$ 2,000.00 1,200.00 1,668.00 1,500.00 9,396.00$ 19,404.00$

1907 Ave E 2 1,344 672 1,700.00 20,400.00$ 1,207.00$ 1,000.00 1,200.00 1,064.00 1,000.00 5,471.00$ 14,929.00$

1909 Ave E 2 1,344 672 1,700.00 20,400.00$ 1,206.00$ 1,000.00 1,200.00 1,023.00 1,000.00 5,429.00$ 14,971.00$

2204 Ave G 2 1,837 919 2,200.00 26,400.00$ 1,100.00$ 1,000.00 1,200.00 1,050.00 1,300.00 5,650.00$ 20,750.00$

28 20,737 26,725.00 320,700.00$ 24,739.00$ 15,000.00$ 12,600.00$ 17,382.00$ 15,050.00$ 84,771.00$ 235,929.00$

Price 2,750,000.00

Capitalization Rate 8.58%

Down Payment 687,500.00

Total Leverage 2,062,500.00

Debt Service Expense @ 4.2% 86,625.00

NOI After Debt Service 149,304.00

Cash on Cash Return 21.72%

Current Rents

Maxiplex St. Lucie VillagesFinance – Analysis at Market Rents



Market Cap Rate: 9.75%

Market Cash on Cash: 26.38%

Offered at $2,750,000.00

Address # of Units Total SFAvg Unit

Size Monthly Gross Inc RE Taxes R+M Landscaping Insurance MGT Total Expenses NOI

15 Ave T 15 9,625 642 13,447.50 161,370.00$ 12,200.00$ 7,500.00 3,000.00 8,863.00 7,300.00 38,863.00$ 122,507.00$

2008 47th Avenue 1 925 925 1,320.00 15,840.00$ 1,478.00$ 500.00 1,200.00 867.00 700.00 4,745.00$ 11,095.00$

607 N 19th St 1 1,100 1100 1,210.00 14,520.00$ 1,631.00$ 500.00 1,200.00 786.00 650.00 4,767.00$ 9,753.00$

2008 51st Ct 1 966 966 1,320.00 15,840.00$ 1,100.00$ 500.00 1,200.00 867.00 700.00 4,367.00$ 11,473.00$

613 6th Ave 2 1,300 650 3,300.00 39,600.00$ 1,789.00$ 1,000.00 1,200.00 1,194.00 900.00 6,083.00$ 33,517.00$

2813 Anne St 2 2,296 1148 2,640.00 31,680.00$ 3,028.00$ 2,000.00 1,200.00 1,668.00 1,500.00 9,396.00$ 22,284.00$

1907 Ave E 2 1,344 672 1,870.00 22,440.00$ 1,207.00$ 1,000.00 1,200.00 1,064.00 1,000.00 5,471.00$ 16,969.00$

1909 Ave E 2 1,344 672 1,870.00 22,440.00$ 1,206.00$ 1,000.00 1,200.00 1,023.00 1,000.00 5,429.00$ 17,011.00$

2204 Ave G 2 1,837 919 2,420.00 29,040.00$ 1,100.00$ 1,000.00 1,200.00 1,050.00 1,300.00 5,650.00$ 23,390.00$

28 20,737 29,397.50 352,770.00$ 24,739.00$ 15,000.00$ 12,600.00$ 17,382.00$ 15,050.00$ 84,771.00$ 267,999.00$

Price 2,750,000.00

Capitalization Rate 9.75%

Down Payment 687,500.00

Total Leverage 2,062,500.00

Debt Service Expense @ 4.2% 86,625.00

NOI After Debt Service 181,374.00

Cash on Cash Return 26.38%

Current Rents

Maxiplex St. Lucie VillagesSelect Aerials – Avenue T Apartments



Maxiplex St. Lucie VillagesSelect Aerials – Avenue E Properties (Typical Locale)




561-310-0935 561-503-3648The-Goldstein-Group.com

Located in Coastal St. Lucie County, Fort Pierce is a excellently suited locale for investment in this class of property in the current economic environment. As demand (and thus pricing) continues to rise in Palm Beach, Broward, and Dade Counties, cap rates have fallen in accordance. Fort Pierce still offers a very return on multifamily and single family rentals. Fort Pierce is a healthy job market and demographics for this type of quality affordable rental housing. An excellent coastal location combines with these factors drive rental demand in a real sense. A pro-business local government that strives to support sustainable job, business, and investment growth for its residents.

Features & DiversityOur city is a diverse yet neighborly community, embracing both the richness of our heritage and the promise of the future in St. Lucie County. Downtown has retained its old Florida charm and scale, as it has welcomed new development and revitalization. The historic waterfront downtown affords residents contemporary shopping, dining, great fishing and a range of entertainment and activities from the Farmers Market, Bike Night, Friday Fest, Jazz Market and the city owned and operated historic, 1,200 seat Sunrise Theatre for the Performing Arts.

EducationFort Pierce is home to educational and research facilities, like the top-ranked Indian River State College, Smithsonian Marine Station, Manatee Observation and Education Center and Harbor Branch Oceanographic Institution at Florida Atlantic University.

An Award Winning CityFort Pierce was awarded the 2005 City of Excellence Award by the Florida League of Cities for overall excellence in city government and in 2011 and Main Street Fort Pierce, Inc. received the Great American Main Street Award from the National Trust for Historic Preservation in downtown.

St Lucie County

Palm Beach County

Dade County

Broward County



P h o t o s



Avenue T Apartments



607 N 19th St



2813 Anne St



1907 & 1909 Ave E



2008 N 47th St



613 N 6th St 2008 N 51st St

2204 Ave G

Typical Interior

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

[email protected]

561-310-0935

Russell Goldstein

[email protected]

561-503-3648

Maxiplex St. Lucie Villages Martin Goldstein 561 …...This 28 unit portfolio is fully CBS, meaning...

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