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:
$1,600,000
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
See this Listing
I have been selling real estate for over 23 years from New York to Florida. My main service areas include Celebration, Marco Island, Miami, Naples, Orlando, Sarasota, Tampa, Windermere. We can help you buy or sell real estate anywhere in the State of Florida. Looking for Golf Course Homes For Sale, Luxury Estates, Beachfront Condos, Gated Communities, Fine Homes and Estates, we cover it all.
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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
Map
Community
- Address6490 S US HIGHWAY 1 PORT SAINT LUCIE FL
- CityPORT SAINT LUCIE
- CountySt Lucie
- Zip Code34952
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Courtesy of EXP REALTY LLC. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the Stellar MLS. Detailed information about real estate listings held by brokerage firms other than CENTURY 21 Carioti include the name of the listing broker. Neither the listing company nor CENTURY 21 Carioti shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. Stellar MLS. All rights reserved. 6490 S US HIGHWAY 1
PORT SAINT LUCIE, FL
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