UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 7,728 sqft
Price per Sqft $232
MLS Listing ID 1028572
Bedrooms 8
Full Baths 8
HOA Y/N No
Total Fin. Sqft 7728
Originating Board Space Coast MLS (Space Coast Association of REALTORS®)
Year Built 1973
Annual Tax Amount $10,134
Tax Year 2024
Lot Size 0.580 Acres
Acres 0.58
Property Sub-Type Multi Family
Property Description
Multi-unit complex perfectly situated in the heart of town, surrounded by major employers, stunning beaches, the Melbourne Mall, and the airport.
The offering includes three properties at 89, 87, and 85 NW Irwin Avenue, consisting of:
8-unit apartment building (each 1 bed/1 bath)
Duplex (each 2 bed/1 bath)
Single-family home (3 bed/2 bath)
Currently generating $15,350 in monthly rental income, with the opportunity to increase to $17,000 monthly as 9 of the 11 tenants are on month-to-month leases. With rents optimized, this property could yield an impressive $204,000 in annual income.
This property is not just a solid investment but a strategic opportunity to add value to your portfolio in a high-demand market.
Don't miss out! Properties like this, with location, potential, and value, don't stay available for long.
Location
State FL
County Brevard
Area 331 - West Melbourne
Direction From 192, turn North on to NW Irwin Avenue. Property will be on the left.
Interior
Heating Central
Cooling Central Air
Flooring Tile
Furnishings Unfurnished
Appliance Electric Range, Refrigerator
Exterior
Exterior Feature Impact Windows, Storm Shutters
Parking Features Parking Lot
Utilities Available Cable Available, Electricity Connected, Sewer Connected, Water Available
View Other
Roof Type Membrane,Shingle
Present Use Investment,Multi-Family
Street Surface Asphalt
Road Frontage City Street
Garage No
Private Pool No
Building
Lot Description Few Trees
Faces South
Story 2
Sewer Public Sewer
Water Public
New Construction No
Schools
Elementary Schools University Park
High Schools Melbourne
Others
Senior Community No
Tax ID 28-37-05-02-0000c.0-0006.00
Security Features Fire Alarm,Smoke Detector(s)
Acceptable Financing Cash, Private Financing Available
Listing Terms Cash, Private Financing Available
Special Listing Condition Standard
Virtual Tour https://www.propertypanorama.com/instaview/spc/1028572
