3518 SE Cleveland St, Stuart, FL 34997

Please do not disturb tenants. Salerno quadruplex located on a tranquil and secluded lot. Nestled up against undeveloped County owned land, this 0.179-acre lot has it’s own private road and feels much larger when you are standing on it. The rents are currently at $1,000, $1,000, and $1,200 and could easily be raised by a new owner as they are all month to month. The fourth unit is owner occupied and upon closing will be available for a new buyer to move into or lease up for a 7.72% pro forma cap rate. If desired, the owner’s unit can be easily combined with an adjoining unit to transform the property into a Triplex with a spacious 2bd/2ba unit, and two 1bd/1ba units. This property is a short drive to US 1, Interstate 95, Dixie Highway, and walking distance to a nearby grocery plaza and convenience stores. The Salerno neighborhood has been experiencing a modern renaissance and offers easy access to Sandsprit Park, Manatee Pocket, world class golf courses and much more.