6490 S US HIGHWAY 1 PORT SAINT LUCIE FL 34952 MLS #O6178100

6490 S US HIGHWAY 1
PORT SAINT LUCIE, FL, 34952
$1,950,000
Beds
0 Baths
4,882 SqFt
0.49 Acres
$1,950,000
6490 S US HIGHWAY 1
PORT SAINT LUCIE, FL, 34952
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.

Property Details

Price:
$1,950,000
MLS #:
O6178100
Status:
Active
Beds:
0
Baths:
0
Address:
6490 S US HIGHWAY 1
Type:
Commercial
Subtype:
Hotel/Motel
Subdivision:
WHITE CITY GARDENS UNREC
City:
PORT SAINT LUCIE
Listed Date:
Feb 11, 2024
State:
FL
Finished Sq Ft:
4,882
ZIP:
34952
Lot Size:
21,344 sqft / 0.49 acres (approx)
Year Built:
1957

Schools

Interior

Cooling
Central Air, Wall/ Window Unit(s)

Exterior

Construction Materials
Block

Financial

Buyer Agent Compensation
2.5%%
Tax Year
2023
Taxes
$18,628
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6490 S US HIGHWAY 1
PORT SAINT LUCIE, FL