Melbourne FL Multi Family for Sale
$1,900,000
89 NW Irwin Avenue Melbourne, FL 32904
- Type:
- Other
- Sq.Ft.:
- n/a
- Status:
- Active
- Beds:
- 8
- Lot size:
- 0.58 Acres
- Year built:
- 1973
- Baths:
- 8.00
- MLS#:
- 1028572
View additional info
Courtesy: Florida Homes Rlty. & Mtg. LLC
904-996-9115
ADDITIONAL INFORMATION
11 Units For Sale! This exceptional investment opportunity includes 89, 87, and 85 NW Irwin Avenue—a fully renovated, fully occupied complex generating $15,350 monthly in rental income, with the potential to increase rents to $17,000 monthly immediately, as 9 out of 11 tenants are on month-to-month leases. Listed at $1,955,000, the property currently yields an annual income of $184,200, which equates to approximately 9.42%. With increased rents, this could rise to $204,000 annually, or about 10.44%. The complex consists of an 8-unit apartment building at 89 NW Irwin, with each unit featuring 1 bedroom and 1 bathroom; a single-family home at 87 NW Irwin, offering 3 bedrooms and 2 bathrooms; and a duplex at 85 NW Irwin, with each unit providing 2 bedrooms and 1 bathroom. With solid current returns and the flexibility for immediate rental growth, this property presents an ideal addition to any investment portfolio.
Andrea Conner, License #BK3437731, Xome Inc., License #1043756, [email protected], 844-400-9663, 750 State Highway 121 Bypass, Suite 100, Lewisville, TX 75067
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) Program of the Space Coast Association of REALTORS®, Inc. Real estate listings held by brokerage firms other than the owner of this site are marked with the Space Coast Association of REALTORS®, Inc. logo and detailed information about them includes the name of the listing brokers. Copyright 2024 Space Coast Association of REALTORS®, Inc. All rights reserved.
Melbourne Real Estate
The median home value in Melbourne, FL is $411,200. This is higher than the county median home value of $357,500. The national median home value is $338,100. The average price of homes sold in Melbourne, FL is $411,200. Approximately 75.15% of Melbourne homes are owned, compared to 17.61% rented, while 7.24% are vacant. Melbourne real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Melbourne real estate agent to arrange a tour today!
Melbourne, Florida 32904 has a population of 25,768. Melbourne 32904 is more family-centric than the surrounding county with 36.44% of the households containing married families with children. The county average for households married with children is 24.34%.
The median household income in Melbourne, Florida 32904 is $76,848. The median household income for the surrounding county is $63,632 compared to the national median of $69,021. The median age of people living in Melbourne 32904 is 41.5 years.
Melbourne Weather
The average high temperature in July is 90.8 degrees, with an average low temperature in January of 49.2 degrees. The average rainfall is approximately 53.9 inches per year, with 0 inches of snow per year.