$349,500
Melbourne, FL 32901
MLS# 853272
Status: Closed
1852 sqft
1 / 5
Property Description
Beautifully renovated and fully occupied downtown Melbourne quadplex. Excellent location with long term tenants in place. Each unit has been fully renovated with a designer touch to ensure a high demand for future rentability. This is a turn key opportunity with a cap rate of nearly 10%. Capital expenditures will be minimal as the building has a new roof, new electrical panels, impact windows, gas hot water heater and more. Owners provide water, hot water, common electricity and internet. Tenants pay their own electricity, coin laundry provides additional revenue! Owners are licensed Florida realtors
Details
Maps
Location, Tax, and Legal
Tax Account: 2818063
Parcel Number: 28-37-03-55-00008.0-0009.00
General County Location: South
Elementary School: University Park
Middle School: Hoover
High School: Melbourne
Tax Annual Amount: 2795.61
Tax Year: 2018
Tax Legal Description: PALM GARDENS LOT 9 BLK 8
Directions: 192 west, then south on Franklin St
General Property Information
Number Of Buildings: 1
Number Of Units Total: 4
Living Area: 1852
Living Area Source: Public Records
Building Area Total: 1852
Lot Size Acres: 0.16
Lot Size Square Feet: 6970
Association YN: No
Garage YN: No
Garage Spaces: 0
Carport YN: No
Carport Spaces: 0
Waterfront YN: No
Parking Total: 4
Water Frontage Feet: 0
Water Body Access YN: No
Pool Private YN: No
List Price/SqFt: 188.44
Sold Price/SqFt: 188.71
Year Built: 1925
Remarks and Miscellaneous
Public Remarks: Beautifully renovated and fully occupied downtown Melbourne quadplex. Excellent location with long term tenants in place. Each unit has been fully renovated with a designer touch to ensure a high demand for future rentability. This is a turn key opportunity with a cap rate of nearly 10%. Capital expenditures will be minimal as the building has a new roof, new electrical panels, impact windows, gas hot water heater and more. Owners provide water, hot water, common electricity and internet. Tenants pay their own electricity, coin laundry provides additional revenue! Owners are licensed Florida realtors
Appliances
Electric Range: 1
Instant Hot Water: 1
Refrigerator: 1
Construction Materials
Frame: 1
Wood Siding: 1
Flooring
Vinyl: 1
Levels
Two: 1
Listing Terms
Cash: 1
Pool Features
None: 1
Income and Expenses
Gross Income: 600
Gross Scheduled Income: 42300
Net Operating Income: 33444
Operating Expense: 8856
Owner Pays
Electricity: 1
Gas: 1
Grounds Care: 1
Insurance: 1
Other Tax: 1
Sewer: 1
Water: 1
Other: 1
Roof
Shingle: 1
Special Listing Conditions
Standard: 1
Utilities
Cable Available: 1
Showing Requirements
Appointment Only: 1
Call Listing Office: 1
Historical Information
Public Historical Remarks 3: Contact: List Agent, Parking-1 Space Per Unit: Y
Contract Information
Current Price: $349,500
Original List Price: 349000
Sold Price: $349,500
Status: Closed
Listing Contract Date: 2019-08-14
Property Sub Type: Quadruplex
Location Tax and Legal
Street Number: 2100
Street Name: Franklin
Street Suffix: Street
County: Brevard
State: FL
Postal Code: 32901
MLS Area Major: 330 - Melbourne - Central
Subdivision Name: None
Status Change Information
Major Change Timestamp: 2019-09-21T13:40:57Z
Major Change Type: Status Change
Status Change Timestamp: 2019-09-21
Purchase Contract Date: 2019-08-17
Close Date: 2019-09-16
Close Price: 349500
Property Features
Appliances: Electric Range; Instant Hot Water; Refrigerator
Construction Materials: Frame; Wood Siding
Flooring: Vinyl
Levels: Two
Listing Terms: Cash
Owner Pays: Electricity; Gas; Grounds Care; Insurance; Other Tax; Sewer; Water; Other
Pool Features: None
Roof: Shingle
Special Listing Conditions: Standard
Utilities: Cable Available
Showing Requirements: Appointment Only; Call Listing Office
Listing Office: Hoven Real Estate
Last Updated: June - 25 - 2026
Information is deemed to be reliable, but is not guaranteed.