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1219 E Strawbridge Avenue

Melbourne, FL 32901
  • $1,500,000
  • STATUS: Active
  • ON SITE: 9 Days
  • MLS #: 938072
UPDATED: 80 min ago
$1,500,000
  • 0
    BEDS
  • 0.26
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 5,852
    SQFT
  • $256
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1910
County:

School Information

Elementary School:
Middle School:
High School:

Description

IN HISTORIC DOWNTOWN MELBOURNE walking distance to 288 businesses, 39 bars and restaurants. This property is a perfect value add opportunity. Room for rents to be doubled OR units can be flipped to STR where you can create serious ROI. C3 (mixed-use) property is currently comprised of 8 units. Four 2/1's, and Four 1/1. What a great 1031 Exchange Opportunity. 100% occupied. Current proforma (NOI) $54K a year (3.9% CAP). HOWEVER - If turned into STR (NOI) $192K a year (11.19% CAP). This site sits in a CRA, which allows 100 units per acre, and a height of 8 stories. Potential to build something else on this site in the future.

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© 2022 Space Coast Association of REALTORS®, Inc. The data relating to real estate for sale or lease on this web site comes in part from the Brevard County Broker Reciprocity Database. Real estate listings held by brokerage firms other than Engel & Voelkers Melbourne Central are marked with the IDX logo and detailed information about them includes the name of the listing broker. Information is deemed reliable but is not guaranteed accurate by the MLS or Engel & Voelkers Melbourne Central.IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2022-06-27T19:10:54.773.
www.homesinmelbournefl.com/homes/129975128
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1219 E Strawbridge Avenue Melbourne, FL 32901

  • Price: $1,500,000
  • Status: Active
  • On Site: 9 Days
  • Updated: 80 min ago
  • MLS #: 938072
0
Beds
0
Baths
0
½ Baths
0.26
Acres
5,852
SQFT
$256
$/SQFT
1910
Built
Neighborhood:
330 - Melbourne
County:
Brevard
Area:
330 - Melbourne
Elementary School:
University Park
Middle School:
Hoover
High School:
Melbourne
Property Description
IN HISTORIC DOWNTOWN MELBOURNE walking distance to 288 businesses, 39 bars and restaurants. This property is a perfect value add opportunity. Room for rents to be doubled OR units can be flipped to STR where you can create serious ROI. C3 (mixed-use) property is currently comprised of 8 units. Four 2/1's, and Four 1/1. What a great 1031 Exchange Opportunity. 100% occupied. Current proforma (NOI) $54K a year (3.9% CAP). HOWEVER - If turned into STR (NOI) $192K a year (11.19% CAP). This site sits in a CRA, which allows 100 units per acre, and a height of 8 stories. Potential to build something else on this site in the future.
Exterior Features

Community Pool No Construction Frame - Wood Exterior Finish Stucco Lot Description Sidewalks Parking Open Parking Parking Total 8.00 Pool No Private Pool No Roof Membrane Style Efficiency/StudioTwo Story Waterfront Present No

Interior Features

Equipment And Appliances Other Floor Wood Split Bedroom No Sq Ft Total 5852.00

Property Features

Expenses Include Other - Call Agent Financing CashConventional Fixer Upper Yes Multifamily Subtype 5 - 10 Units Property Status Standard Rent Includes Pest ControlRe TaxesSewer Source Of Measurement Tax Rolls Tax Amount 7507.59 Tax Year 2021 Utilities City Water

Listing provided courtesy of Curri Kirschner R.E. Group Llc.
© 2022 Space Coast Association of REALTORS®, Inc. All Rights Reserved.


© 2022 Space Coast Association of REALTORS®, Inc. The data relating to real estate for sale or lease on this web site comes in part from the Brevard County Broker Reciprocity Database. Real estate listings held by brokerage firms other than Engel & Voelkers Melbourne Central are marked with the IDX logo and detailed information about them includes the name of the listing broker. Information is deemed reliable but is not guaranteed accurate by the MLS or Engel & Voelkers Melbourne Central.IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2022-06-27T19:10:54.773.
 
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Engel & Voelkers Melbourne Central
524 N. Habor City Blvd.
Melbourne FL, 32935