$1,800,000
Melbourne, FL 32901
MLS# 1060500
8 baths
1 / 22
Property Description
Turnkey 8-Unit Multifamily Investment - Prime Melbourne, FL Location 5% CAP Discover a high-performing 8-unit multifamily CBS building offering stable income and modern upgrades in a strong Space Coast rental market. Each unit is a 1 bed / 1 bath layout with updated interiors and a consistent rental history. With 5,500 SF of rentable area on 0.36 acres, this property provides an ideal balance of density, parking convenience, and long-term tenant retention. The property features a new metal roof (2020), electrical panels, appliances, HVAC, resurfaced/striped parking lot, and freshly painted.
Details
Maps
Documents
Location, Tax, and Legal
Tax Account: 2729523
Parcel Number: 27-37-34-Ep-0000a.0-0056.00
General County Location: South
Tax Annual Amount: 10031
Tax Year: 2024
Additional Parcels YN: No
Zoning Description: Multi Family
Directions: Head north on I-95, take exit 182 toward Ellis Rd/St Johns Heritage Pkwy, continue onto W Nasa Blvd, Use the 2 left lanes to turn left to stay on W Nasa Blvd, turn left onto Hickory St, Turn right.
General Property Information
Number Of Units Total: 8
Stories Total: 2
Building Area Total: 5500
Building Area Source: Appraiser
Lot Size Acres: 0.36
Association YN: No
Water Body Access YN: No
Waterfront YN: No
Land Lease YN: No
Senior Community YN: No
List Price/SqFt: 327.27
Bathrooms Total: 8
Year Built: 1979
Remarks and Miscellaneous
Public Remarks: Turnkey 8-Unit Multifamily Investment - Prime Melbourne, FL Location 5% CAP
Discover a high-performing 8-unit multifamily CBS building offering stable income and modern upgrades in a strong Space Coast rental market. Each unit is a 1 bed / 1 bath layout with updated interiors and a consistent rental history. With 5,500 SF of rentable area on 0.36 acres, this property provides an ideal balance of density, parking convenience, and long-term tenant retention.
The property features a new metal roof (2020), electrical panels, appliances, HVAC, resurfaced/striped parking lot, and freshly painted.
Construction Materials
Concrete: 1
Stucco: 1
Cooling
Ceiling Fan(s): 1
Central Air: 1
Electric: 1
Current Use
Commercial: 1
Investment: 1
Multi-Family: 1
Residential: 1
Flooring
Tile: 1
Heating
Central: 1
Electric: 1
Listing Terms
Cash: 1
Conventional: 1
Lot Features
Other: 1
Parking Features
Additional Parking: 1
Guest: 1
Parking Lot: 1
Unassigned: 1
Possession
Close Of Escrow: 1
Income and Expenses
Gross Income: 119499
Gross Scheduled Income: 130500
Insurance Expense: 15450
Maintenance Expense: 2863
Net Operating Income: 86320
New Taxes Expense: 10031
Trash Expense: 1323.68
Owner Pays
Exterior Maintenance: 1
Grounds Care: 1
HVAC Maintenance: 1
Insurance: 1
Janitorial Service: 1
Other Tax: 1
Repairs: 1
Sewer: 1
Taxes: 1
Trash Collection: 1
Water: 1
Road Frontage Type
City Street: 1
Roof
Metal: 1
Security Features
Smoke Detector(s): 1
Sewer
Public Sewer: 1
Tenant Pays
Cable TV: 1
Electricity: 1
Insurance: 1
Pest Control: 1
Repairs: 1
Telephone: 1
Unit 1 Details
Unit ID: 837-1
Annual Rent: 1325
Unit SqFt: 687
# Units (This Type): 1
Baths Total: 1
Furnished: Unfurnished
Unit Remarks: sec deposit
Unit 2 Details
Unit ID: 837-2
Annual Rent: 1500
Unit SqFt: 687
# Units (This Type): 1
Baths Total: 1
Furnished: Unfurnished
Unit Remarks: sec deposit
Unit 3 Details
Unit ID: 837-3
Annual Rent: 1350
Unit SqFt: 687
# Units (This Type): 1
Baths Total: 1
Furnished: Unfurnished
Unit Remarks: sec deposit
Unit 4 Details
Unit ID: 837-4
Annual Rent: 1350
Unit SqFt: 687
# Units (This Type): 1
Baths Total: 1
Furnished: Unfurnished
Unit Remarks: sec deposit
Unit 5 Details
Unit ID: 837-5
Annual Rent: 1375
Unit SqFt: 687
# Units (This Type): 1
Baths Total: 1
Furnished: Unfurnished
Unit Remarks: sec deposit
Unit 6 Details
Unit ID: 837-6
Annual Rent: 1350
Unit SqFt: 687
# Units (This Type): 1
Baths Total: 1
Furnished: Unfurnished
Unit Remarks: sec deposit
Unit 7 Details
Unit ID: 837-7
Annual Rent: 1275
Unit SqFt: 687
# Units (This Type): 1
Baths Total: 1
Furnished: Unfurnished
Unit Remarks: sec deposit
Unit 8 Details
Unit ID: 837-8
Annual Rent: 1
Unit SqFt: 687
# Units (This Type): 1
Baths Total: 1
Furnished: Unfurnished
Unit Remarks: sec deposit
Utilities
Cable Available: 1
Electricity Connected: 1
Sewer Connected: 1
Water Source
Public: 1
Showing Requirements
Appointment Only: 1
Call Listing Office: 1
Location
City: 1
Subdivision: 1
Operating Expense Includes
Insurance: 1
Licenses: 1
Maintenance: 1
Trash: 1
Utilities: 1
Water/Sewer: 1
Showing Considerations
Occupied: 1
Sale Includes
Building & Land: 1
Contract Information
Current Price: $1,800,000
Original List Price: 1800000
List Price: $1,800,000
Status: Active
Listing Contract Date: 2025-10-24
Property Sub Type: Multi Family
Location Tax and Legal
Street Number: 837
Street Name: Hickory
Street Suffix: Street
County: Brevard
State: FL
Postal Code: 32901
MLS Area Major: 323 - Eau Gallie
Subdivision Name: Riverside Drive
Status Change Information
Major Change Timestamp: 2025-10-25T18:18:57Z
Major Change Type: New Listing
Status Change Timestamp: 2025-10-25
Property Features
Construction Materials: Concrete; Stucco
Cooling: Ceiling Fan(s); Central Air; Electric
Current Use: Commercial; Investment; Multi-Family; Residential
Flooring: Tile
Heating: Central; Electric
Listing Terms: Cash; Conventional
Location: Subdivision
Lot Features: Other
Operating Expense Includes: Insurance; Licenses; Maintenance; Trash; Water/Sewer
Owner Pays: Exterior Maintenance; Grounds Care; HVAC Maintenance; Insurance; Janitorial Service; Other Tax; Repairs; Sewer; Taxes; Trash Collection; Water
Parking Features: Additional Parking; Guest; Parking Lot; Unassigned
Possession: Close Of Escrow
Road Frontage Type: City Street
Roof: Metal
Sale Includes: Building & Land
Security Features: Smoke Detector(s)
Sewer: Public Sewer
Showing Considerations: Occupied
Showing Requirements: Appointment Only; Call Listing Office
Tenant Pays: Cable TV; Electricity; Insurance; Pest Control; Repairs; Telephone
Utilities: Cable Available; Electricity Connected; Sewer Connected
Water Source: Public
Investor Packet 
Listing Office: NeX-Gen Partners
Last Updated: October - 28 - 2025
Information is deemed to be reliable, but is not guaranteed.