$1,900,000
Melbourne, FL 32935
MLS# 1068578
10 baths
1 / 17
Property Description
Exceptional opportunity to own a rare 8-unit riverfront multifamily in the historic Eau Gallie Arts District. Located at 2179 Pineapple Ave, this income-producing property sits directly on the Indian River, offering long-term value, steady cash flow, and lifestyle appeal. The asset features a mix of long-term tenants and short-term rentals, allowing flexibility to optimize income while diversifying risk. All roofs have been replaced, and the main house HVAC system has been recently updated, reducing near-term capital expenditure concerns. Waterfront units and STR components benefit from strong rental demand driven by river views, sunsets, and proximity to downtown Eau Gallie, galleries, dining, and events. Ideal for investors seeking a stabilized asset with upside through rent optimization, STR expansion, or future appreciation in one of the Space Coast's most walkable and culturally vibrant corridors. A rare combination of location, condition, and income potential on the Indian River
Details
Maps
Documents
Location, Tax, and Legal
Tax Account: 2716968
Parcel Number: 27-37-16-25-0000a.0-0022.00
General County Location: South
Tax Annual Amount: 16970
Tax Year: 2025
Tax Legal Description: EAU GALLIE, VILLAGE PLAT OF LOT 22 BLK A EXC RD R/W
Directions: North on Pineapple from Eau Gallie, 1 mile on the right
General Property Information
Number Of Units Total: 8
Stories Total: 1
Building Area Total: 4185
Lot Size Acres: 0.5
Accessibility Features YN: No
Water Body Access YN: No
Waterfront YN: Yes
Water Body Name: Indian River
Senior Community YN: No
List Price/SqFt: 454
Bathrooms Total: 10
Year Built: 1958
Remarks and Miscellaneous
Public Remarks: Exceptional opportunity to own a rare 8-unit riverfront multifamily in the historic Eau Gallie Arts District. Located at 2179 Pineapple Ave, this income-producing property sits directly on the Indian River, offering long-term value, steady cash flow, and lifestyle appeal. The asset features a mix of long-term tenants and short-term rentals, allowing flexibility to optimize income while diversifying risk. All roofs have been replaced, and the main house HVAC system has been recently updated, reducing near-term capital expenditure concerns. Waterfront units and STR components benefit from strong rental demand driven by river views, sunsets, and proximity to downtown Eau Gallie, galleries, dining, and events. Ideal for investors seeking a stabilized asset with upside through rent optimization, STR expansion, or future appreciation in one of the Space Coast's most walkable and culturally vibrant corridors. A rare combination of location, condition, and income potential on the Indian River
Construction Materials
Block: 1
Frame: 1
Vinyl Siding: 1
Cooling
Electric: 1
Multi Units: 1
Wall/Window Unit(s): 1
Current Use
Commercial: 1
Multi-Family: 1
Fencing
Wood: 1
Heating
Central: 1
Electric: 1
Lot Features
Other: 1
Parking Features
Assigned: 1
Possession
Close Of Escrow: 1
Income and Expenses
Gross Income: 144000
Operating Expense: 35000
Road Frontage Type
City Street: 1
Roof
Shingle: 1
Sewer
Public Sewer: 1
Special Listing Conditions
Standard: 1
Unit 1 Details
Unit ID: 1
Annual Rent: 1500
Unit SqFt: 300
# Units (This Type): 4
Baths Total: 1
Furnished: Furnished
Unit Remarks: Annual
Unit 2 Details
Unit ID: 2
Annual Rent: 1700
Unit SqFt: 300
# Units (This Type): 4
Baths Total: 1
Furnished: Furnished
Unit Remarks: Annual
Unit 3 Details
Unit ID: 3
Annual Rent: 1400
Unit SqFt: 300
# Units (This Type): 4
Baths Total: 1
Furnished: Furnished
Unit Remarks: Annual
Unit 4 Details
Unit ID: 4
Annual Rent: 2200
Unit SqFt: 300
# Units (This Type): 2
Baths Total: 1
Furnished: Furnished
Unit Remarks: Airbnb
Unit 5 Details
Unit ID: 5
Annual Rent: 1800
Unit SqFt: 300
# Units (This Type): 2
Baths Total: 1
Furnished: Furnished
Unit Remarks: Airbnb
Unit 6 Details
Unit ID: 6
Annual Rent: 1500
Unit SqFt: 300
# Units (This Type): 4
Baths Total: 1
Furnished: Furnished
Unit Remarks: Annual
Unit 7 Details
Unit ID: 7
Annual Rent: 1000
Unit SqFt: 250
# Units (This Type): 1
Baths Total: 1
Furnished: Furnished
Unit Remarks: M2M
Unit 8 Details
Unit ID: House
Annual Rent: 2500
Unit SqFt: 3000
# Units (This Type): 1
Baths Total: 25
Furnished: Partially
Unit Remarks: Annual
Utilities
Cable Available: 1
Electricity Connected: 1
Sewer Connected: 1
Water Connected: 1
Water Source
Public: 1
Waterfront Features
Intracoastal: 1
Sale Includes
Building & Land: 1
Contract Information
Current Price: $1,900,000
Original List Price: 1900000
List Price: $1,900,000
Status: Active
Listing Contract Date: 2026-02-05
Property Sub Type: Multi Family
Location Tax and Legal
Street Number: 2179
Street Name: Pineapple
Street Suffix: Avenue
County: Brevard
State: FL
Postal Code: 32935
MLS Area Major: 323 - Eau Gallie
Subdivision Name: Eau Gallie Village Plat of
Status Change Information
Major Change Timestamp: 2026-02-05T15:21:02Z
Major Change Type: New Listing
Status Change Timestamp: 2026-02-05
Property Features
Construction Materials: Block; Frame; Vinyl Siding
Cooling: Electric; Multi Units; Wall/Window Unit(s)
Current Use: Commercial; Multi-Family
Fencing: Wood
Heating: Central; Electric
Lot Features: Other
Parking Features: Assigned
Possession: Close Of Escrow
Road Frontage Type: City Street
Roof: Shingle
Sale Includes: Building & Land
Sewer: Public Sewer
Special Listing Conditions: Standard
Utilities: Cable Available; Electricity Connected; Sewer Connected; Water Connected
Water Source: Public
Waterfront Features: Intracoastal
OM 
Listing Office: Real Broker LLC
Last Updated: February - 12 - 2026
Information is deemed to be reliable, but is not guaranteed.