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6490 S Us Highway 1

Port Saint Lucie, FL 34952
  • $1,950,000
  • STATUS: Active
  • ON SITE: 69 Days
  • MLS #: O6178100
$1,950,000
  • 0
    BEDS
  • 0.49
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 4,882
    SQFT
  • $399
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1957
County:

School Ratings & Info

Description

The Rainbow Motel features 13 units available as weekly rentals. One of the units is a full 2 bedroom apartment and the other 12 units are efficiencies. This property brought in a total net operating income of $225,000 for 2023 making this nearly a 12 cap how it currently sits with actual documented financials. Since the current owner purchased the property they have done major upgrades. A majority of the units have been completely upgraded including flooring, kitchens, paint, and bathrooms. This Motel offers many amenities which include in-room refrigerator, microwave, guest laundry, and ADA accessible rooms. Sited in close proximity to the beaches, golf clubs, shopping centers and restaurants this is an incredible investment.

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© 2024 My Florida Regional MLS DBA Stellar MLS. All rights reserved. All listings displayed pursuant to IDX. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided for consumers personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Data last updated 2024-04-20T19:45:16.807.
www.thefennigteam.com/homes/147519613
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6490 S Us Highway 1 Port Saint Lucie, FL 34952

  • Price: $1,950,000
  • Status: Active
  • On Site: 69 Days
  • MLS #: O6178100
0
Beds
0
Baths
0
½ Baths
0.49
Acres
4,882
SQFT
$399
$/SQFT
1957
Built
Neighborhood:
White City Gardens Unrec
County:
St Lucie
Area:
Port Saint Lucie
Property Description
The Rainbow Motel features 13 units available as weekly rentals. One of the units is a full 2 bedroom apartment and the other 12 units are efficiencies. This property brought in a total net operating income of $225,000 for 2023 making this nearly a 12 cap how it currently sits with actual documented financials. Since the current owner purchased the property they have done major upgrades. A majority of the units have been completely upgraded including flooring, kitchens, paint, and bathrooms. This Motel offers many amenities which include in-room refrigerator, microwave, guest laundry, and ADA accessible rooms. Sited in close proximity to the beaches, golf clubs, shopping centers and restaurants this is an incredible investment.
Exterior Features

Construction Materials Block Foundation Details Slab Road Frontage Type Highway Road Surface Type ConcreteGravel Water Access Yn No Water Extras Yn No Water View Yn No Waterfront Feet Total 0 Waterfront Yn No

Interior Features

Building Area Total 5826 Cooling Central AirWall/Window Unit(s) Cooling YN Yes

Property Features

Annual Expenses 305000 Flood Zone Code X New Construction Yn No Ownership Partnership Property Sub Type Hotel/Motel Special Listing Conditions None Tax Annual Amount 18628 Total Annual Fees 0 Total Monthly Fees 0 Zoning COMM GENRA


Listing information © 2024 My Florida Regional MLS DBA Stellar MLS..
Listing provided courtesy of EXP REALTY LLC: 888-883-8509.



© 2024 My Florida Regional MLS DBA Stellar MLS. All rights reserved. All listings displayed pursuant to IDX. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided for consumers personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Data last updated 2024-04-20T19:45:16.807.
 
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