Listing Courtesy of: Guy Newman - Florida Homes Rlty. & Mtg. LLC
904-996-9115
$1,850,000
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89 NW Irwin Avenue Melbourne, FL 32904
Other
Residence
8
Beds
8
Baths
...
Bed/Bath
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
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11 Units in a Prime Location! New Roof & Windows! 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 apart...ment 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, equating to a gross cap rate of approximately 11.03%! Now offered at $1,850,000, this property is not just a solid investment but a strategic opportunity to add value in a high-demand market. Don't miss out! Properties like this, with location, potential, and value, don't stay available for long.
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MLS#
1028572
Property Type
Other
Bedrooms
8
Bathrooms
8 Full
Year Built
1973
Price per Sq. Ft.
$239.39
Lot Size
0.58
Sewer
Public Sewer
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