Addison at Parkside
Closed1900 & 1942 SE Hillmoor Dr, Port St Lucie, FL 34952
Property type
Multifamily
Unit / Space count
230
Price
Call for Details
Building size
276,916 sf
Rentable area
276,916 SF
Year built
1994
Year renovated
Occupancy
Zoning code
Lot size
21.72 Acres
Sold/status
Sold · Date unknown
Bedroom count
Property description
Addison at Parkside is a 230-unit multifamily property located in Port St. Lucie, FL. Addison at Parkside consists of 35 buildings, with a strong unit mix of 100% 3-bedroom 2-bath units, and 85% of them being townhomes. Inside, residents enjoy modern amenities, including granite countertops, stainless steel appliances, and in-unit washer and dryer. Addison at Parkside boasts desirable community amenities, such as 2 swimming pools, a fitness center, a playground, tennis court, dog park, and a recently renovated leasing office and clubhouse. There is also significant value-add potential, with a possible monthly rental increase of $471. The location is strategically positioned, being 0.5 miles from St. Lucie Medical Center & Emergency Room (employing over 800 people) and surrounded by the St. Lucie County School District (with over 8,000 employees). Additionally, the property is situated off US Highway 1, experiencing a traffic flow of 31,000 vehicles per day and is just an 18-minute drive from Florida's East Coast Beaches. Conveniently, it is also near various shopping and retail options, including CVS (0.9 mi), Sam's Club (1.7 mi), Walmart Supercenter (2.0 mi), Publix (2.7 mi), Target (4.2 mi), and Best Buy (4.1 mi). Addison at Parkside's location, amenities, and promising potential for value appreciation makes the property a compelling investment opportunity in the real estate market.
Property highlights
- 230-Unit Multifamily Property Located in Port St. Lucie, FL
- 35, 1 and 2 Story Buildings with a Strong Unit Mix of 100% 3 Bedroom 2 Bath with 85% of Units Being Townhomes
- Interior Units Include Granite Countertops, Stainless Steel Appliances, and Washer and Dryer Connections in Every Unit (165 Units Include Washer and Dryer)
- Significant Value-Add Opportunity with $471+ in Average Monthly Rental Upside
- Desirable Amenities Include 2 Swimming Pools, Fitness Center, Playground, Sports Court, Dog Park and Newly Renovated Leasing Office and Clubhouse
- Port St. Lucie Submarket has a Projected Rent Growth of 16.1% Over the Next 5 Years (CoStar)
- Port St. Lucie is the 10th Highest Metro in the US for Projected Population Growth by 2060 with Expected 80.1% Population Growth (Woods & Poole Economics)
- Located 0.5 Miles From St. Lucie Medical Center & Emergency Room Which Employs Over 800 Employees & Surrounded by St. Lucie County School District, Which Employs Over 8,000 Employees
- Conveniently Located Off US Highway 1 With an Average of 31,000 Vehicles Per Day
- 18-Minutes Away From Florida's East Coast Beaches
- Nearby Shopping & Retail Including CVS (0.9 Mi), Sam's Club (1.7 Mi), Walmart Supercenter (2.0 Mi), Publix (2.7 Mi), Target (4.2 Mi), and Best Buy (4.1 Mi)