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

This exceptional investment opportunity includes 89, 87, and 85 NW Irwin Avenue--a fully renovated, fully occupied complex bringing in $16,000 monthly in rental income, with the potential to increase rents to $18,000 monthly. Listed at $1,955,000, the property currently yields an annual income of $192,000, which equates to approximately 9.82% of the listing price. With increased rents, this could rise to $216,000 annually, or about 11.05%. This complex is comprised of: 89 NW Irwin: A 2-story, 8-unit apartment building, each unit with 1 bedroom and 1 bathroom. 87 NW Irwin: A single-family home with 3 bedrooms and 2 bathrooms. 85 NW Irwin: A duplex, each unit featuring 2 bedrooms and 1 bathroom. With solid current returns and room for growth, this is an ideal addition to any investment portfolio.

1028572

MLS ID

November 1, 2024

Listed

November 20, 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

Courtesy of Relentless Real Estate Co., Guy Newman,
Listing Contact: 321-302-0763 

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.

 

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