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Selena Peterson

myagentselena@gmail.com +1(321) 946-8158

$ 795,000

Est. payment -/mo

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Price Dropped by $40K

704 E LINCOLN AVE Melbourne, FL 32901

2,619 SqFt

UPDATED:

10/23/2024 02:52 PM

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 2,619 sqft

Price per Sqft $303

Subdivision Camps Plat Of Melbourne

MLS Listing ID O6242336

HOA Y/N No

Originating Board Stellar MLS

Year Built 1926

Annual Tax Amount $7,074

Lot Size 8,712 Sqft

Acres 0.2

Property Description

PRICE IMPROVEMENT! TURN-KEY vacation rental investment opportunity 2 blocks from Historic Downtown. Operated as a professionally managed STR since 2018, the Lincoln Guest House has broad appeal to vacationers, students and professionals. This Spanish Colonial quadraplex apartment offers four one-bedroom/one-bath apartments metered separately. The units are fully furnished and thoughtfully decorated with a mix of modern aesthetic and old-Florida charm. The quad is within walking distance of restaurants, bars, shops with Indialantic beaches just over the causeway and easy access to US1 and A1A. Established STR operation with high occupancy currently listed on Airbnb, VRBO, direct website and mid-term channels. Professionally managed, property has a long income history, streamlined operations and software stack to optimize occupancy and rates. This is a great passive investment opportunity, turnkey self-managed STR or 1031 exchange. Professional management with Superhost status can continue.
Improvements: new roof installed 2023 and 4 high-efficiency ductless AC systems also installed in 2023. Flexible C1 mixed-use zoning.
Gross income of $110,000 (3 yr avg) with very high occupancy and steady income.

Location

State FL

County Brevard

Community Camps Plat Of Melbourne

Zoning C1

Interior

Interior Features Ceiling Fans(s), Window Treatments

Heating Central, Zoned

Cooling Central Air, Zoned

Flooring Ceramic Tile, Wood

Fireplace true

Laundry None

Exterior

Exterior Feature Sidewalk

Utilities Available Cable Available

Waterfront false

Roof Type Other

Garage false

Private Pool No

Building

Foundation Slab

Lot Size Range 0 to less than 1/4

Sewer Public Sewer

Water Public

Structure Type Block,Stucco

New Construction false

Others

Senior Community No

Ownership Fee Simple

Acceptable Financing Cash, Conventional, VA Loan

Listing Terms Cash, Conventional, VA Loan

Special Listing Condition None

Listed by PINEAPPLE PLACE REALTY, LLC

Selena Peterson

+1(321) 946-8158

Selena Peterson

704 E LINCOLN AVE Melbourne, FL 32901

Key Details

Location

Interior

Exterior

Building

Others

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704 E LINCOLN AVE