Melbourne Court, FL homes for sale & real estate

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89 NW Irwin Ave, Melbourne, FL 32904

ABOUT THIS HOME
Melbourne Court, FL Homes for Sale
11 Units in a Prime Location! New Roof & Windows! Multi-unit complex perfectly situated in the heart of town, surrounded by major employers, stunning beaches, the Melbourne Mall, and the airport. The offering includes three properties at 89, 87, and 85 NW Irwin Avenue, consisting of: 8-unit apartment building (each 1 bed/1 bath) Duplex (each 2 bed/1 bath) Single-family home (3 bed/2 bath) Currently generating $15,350 in monthly rental income, with the opportunity to increase to $17,000 monthly as 9 of the 11 tenants are on month-to-month leases. With rents optimized, this property could yield an impressive $204,000 in annual income, equating to a gross cap rate of appro

$1,850,000

8 beds8 baths7,728 sq ft

89 NW Irwin Ave, Melbourne, FL 32904

0.58 acre lot • Somewhat walkable

Average home prices near Melbourne Court, FL

Cities

Neighborhoods

Melbourne Court, FL real estate trends

$375K

Sale price

$169

Sale $/sq ft

Under list price

3.8%

Days on market

14

Down payment

—

Total homes sold

1

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