Melbourne FL Multi Family for Sale
$1,850,000
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 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 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, 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.
Andrea Conner, License #BK3437731, Xome Inc., License #1043756, [email protected], 844-400-9663, 750 State Highway 121 Bypass, Suite 100, Lewisville, TX 75067
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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.