514 NW Stuart Avenue, Stuart, FL 34994

Property Description

Attention Investors! Welcome to your next investment opportunity nestled in the highly desirable North River Shores Area of Riverside Park! This property offers the perfect blend of home living and rental income potential with three separate units. The rental units are currently occupied on varying lease terms, providing flexibility for new ownership. Each unit boasts its own unique layout. The 3-bedroom unit is currently utilized as a successful VRBO rental (avg $3,000/month) and comes fully furnished w/ a large fenced in yard. Both 2/1's have annual tenants paying $2400/mo and $2100/mo., the detached yellow unit is fully furnished and has a large fenced in yard, offering a seamless turnkey investment opportunity. Convenience is key in this prime location, situated just behind the Talkhouse and The Deck Restaurant. Residents can easily stroll or bike to popular local spots like Sailors Return and Gilberts Coffee House, as well as numerous marinas. Plus, downtown Stuart is just a stone's throw away. The CRA has recently approved a 2.1 million dollar improvement project for Riverside park which will include adding sidewalks, on street parking, crosswalks, streetlights and landscaping. The property presents multiple opportunities for savvy investors, whether it's maximizing rental income from the existing units or exploring the potential to develop further on the four available lots. With zoning permitting up to a three-story structure reaching a maximum height of 35 feet, the possibilities are endless. Built to last, all units feature sturdy concrete block construction and metal roofs (2004 approx), ensuring durability and low maintenance. Recent property improvements include fresh exterior and interior paint on the entire property, newer a/c (split) and remodeled bathroom in the cottage and 3 bed unit, pink cottage replumbed and a new fence on the West side of the property. Each unit has its own electric and water meters, as well as interior laundry facilities, enhancing tenant convenience and utility management. There is plenty of off-street parking for all 3 units. Don't miss out on this rare chance to own a prime income-producing property in a sought-after location. Whether you're an investor or looking for a home with supplemental rental income, this property checks all the boxes. Schedule your showing today and seize the opportunity to make this property your own!