Active
89 NW Irwin Avenue
Melbourne FL, 32904
$1,955,000
$252.98 per sqft
Active
8 Beds
8 Baths
7,728 sqft
Multi-family
Built in 1973
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.
1028572
MLSⓇ ID
December 10, 2024
Listed
December 19, 2024
Updated
Map
89 NW Irwin Avenue
Melbourne FL, 32904
Interior Features
Total Stories
2
Bedrooms
8
Total Bathrooms
8
Full Bathrooms
8
Appliances
Electric Range, Refrigerator
Floor Description
Tile
Fireplace
No
Cooling
Yes
Cooling Description
Central Air
Heating
Yes
Heating Description
Central
Exterior/Building Features
Lot Size
0.58 Acres
Exterior Features
Impact Windows, Storm Shutters
Lot Features
Few Trees
Roof
Membrane, Shingle
Sewer
Public Sewer
School Information
High School
Melbourne
Elementary School
University Park
Other Property Details
Area Name
331 - West Melbourne
Taxes
$10,134
Tax Frequency
Annually
Garage
No
Parking
Parking Lot
Parking Total
18
View
Yes
View Description
Other
County
Brevard
Water Source
Public
Pool
No
Listing History
Date | Event | Price |
---|---|---|
12/10/2024 | Active | — |
11/27/2024 | Pending | — |
Courtesy of Florida Homes Rlty. & Mtg. LLC, Guy Newman,
Listing Contact: 904-996-9115
All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Island Pineapple Realty shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 FL - MLS of South Brevard & the Space Coast Association of REALTORS (SPACE). All rights reserved.