620 SE 5th Street SE, Stuart FL 34994

Description

LOCATION LOCATION LOCATION! Welcome to your lovely 4BD/ 2BTH concret block home with a new architectural shingle roof (May 2020), new Stainless dishwasher (Spring2020). a prime location, Walking distance to historic Downtown Stuart, Two blocks from the Cleveland Clinic Martin Hospital . What the seller loves about this home Superb downtown location. Ideal for an owner-occupant or as a rental property, or live in one unit and rent the other. Outstanding 3-5 year appreciation potential due to likely nearby enhancements. Recent rezoning to UPUD allows either Commercial or R-3 redevelopment. Rental residence walking distance to Martin Memorial Hospital and downtown Stuart; in the path of downtown Stuart re-development. Recent re-zoning to UPUD allows Commercial or R-3 for apartment or condominium construction. The property is 500' from the arts complex planned by Martin Arts Council for the old school board building. Condos were recently built within 500' and sold out in six months at $425-450,000. Property may benefit from UPUD smaller setbacks and a 750-1,500SF addition if the city closes the public alley behind the property. Pending a development plan and approval, the current rent ($2,400/month) from excellent tenants covers an 80% mortgage and expenses. The property is ideal for either rental or an owner-occupant. 4 bedroom/3 bath house built in 1950 includes 3 bedrooms/2 baths downstairs and a studio apartment with bath over the garage. The Family Room has a partition/door to close it off from the living/dining area, and a closet so it could be used as a fourth downstairs bedroom (making the overall house 5/3), or the partition can easily be removed. Double Lot. Sewer system already hooked up, with two grinder pumps. Well and sprinkler system for the lawn (city water for house). Impact-resistant windows in entire house except for living room window and small windows inset in doors, installed 2005. Ceramic tile in first floor except for terrazzo in kitchen and family room, installed 2006. Two HVAC units for first floor. New thru-wall air-conditioner in studio apartment over garage March 2018. New carpet in studio apartment March 2018. Entire inside, up and down, was repainted in March 2018 including baseboards, molding, and garage. Seven new interior doors March 2018. Stainless kitchen refrigerator, clothes washer/dryer in garage, and a small refrigerator and microwave in studio apartment are all included in sale, all appliances new March 2018. House has a large amount of closet storage including MBR walk-in closet, pantry closet, and cedar closet by front door. Downstairs bedrooms have built-in shelving. There is an area in kitchen which could be used for a breakfast table or walled-off to create a very large pantry. Studio can be rented for extra income est. $750-800/month. It's the only house for sale within true "walking distance" to downtown. Others are east of Palm Beach. Call for further information on re-zoning status, other value enhancements, adjacent property availability, ++.