Price: $1,955,000

89 NW Irwin AvenueMelbourne, FL 32904


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7,728

Square Foot

N/A

Bedrooms

0.00

Full Baths

N/A

½ Baths

No

Pool

No

Waterfront

1973

Year Built

MLS # 1028572


Type: Multi Family

List Date: 11-01-2024

Homestead: N/A

Zoning: N/A

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.

Exterior Features

N/A


Interior Features:

N/A


Equipment / Appliances:

N/A


Utilities:

N/A

Property Details


Street Name:

County:

Brevard

Listing Status:

Active

Tax Year:

2024

Pool:

No

Waterfront:

No

Zip Code:

Tax Amount:

$10,134

HOA Dues:

$0.00

Broker Reciprocity
89 NW Irwin Avenue Melbourne, FL 32904

This listing is courtesy of Florida Homes Rlty. & Mtg. LLC.

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