Listing Address:
89 NW Irwin Avenue, Melbourne, FL 32904
Active
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Price: $1,955,000
MLS # 1028572
Property Type: Multifamily
This property is Active. Please contact us for similar properties.
Property Description:
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.
Property Listing Details for 89 NW Irwin Avenue, Melbourne, FL 32904
Exterior Features
Interior Features
Equipment / Appliances
Pool
No
Pool Description
Utilities
Additional Rooms
None
Waterfront
No
Parking
Split Floorplan
HOA
HOA Dues
0.00
Construction
Floor
Exterior Finish
Roof Type
D. Basile Real Estate, LLC lists and sells Real Estate and Luxury homes in Melbourne Beach, Merritt Island, Cocoa Beach, Lansing Island, Tortoise Island, Barefoot Bay, Cape Canaveral, Cocoa, Grant Valkaria, Indialantic, Indian Harbour Beach, Malabar, Melbourne, Palm Bay, Rockledge, Satellite Beach, Titusville, West Melbourne and surrounding areas in Brevard.
This listing is courtesy of Florida Homes Rlty. & Mtg. LLC. Property Listing Data contained within the D Basile Real Estate website is the property of Brevard MLS and is provided for consumers looking to purchase real estate. Any other use is prohibited. We are not responsible for errors and omissions on this web site. All information contained herein should be deemed reliable but not guaranteed, all representations are approximate, and individual verification is recommended.
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