Description
This recently renovated mixed use downtown building contains five apartments and two retail spaces. A profitable, performing rental property with fresh tenants is rare on this coveted downtown strip. This is your chance to purchase a property with good economic performance today and a huge future value potential as Downtown Melbourne continues to flourish. Renovations included roof replacement, paint, new impact rated windows, a new front patio, landscaping, parking lot replacement, new air conditioning units and many other improvements. Building has been designed and set up for a long, profitable holding for a party seeking passive income. ~5% CAP Rate at current levels, can be increased by new owners.
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0BEDS
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0.19ACRES
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0BATHS
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01/2 BATHS
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4,002SQFT
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$570$/SQFT
School Ratings & Info
Description
This recently renovated mixed use downtown building contains five apartments and two retail spaces. A profitable, performing rental property with fresh tenants is rare on this coveted downtown strip. This is your chance to purchase a property with good economic performance today and a huge future value potential as Downtown Melbourne continues to flourish. Renovations included roof replacement, paint, new impact rated windows, a new front patio, landscaping, parking lot replacement, new air conditioning units and many other improvements. Building has been designed and set up for a long, profitable holding for a party seeking passive income. ~5% CAP Rate at current levels, can be increased by new owners.
© 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 Dale Sorensen Real Estate 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 Dale Sorensen Real Estate.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: 2022-08-17T00:10:32.453.