89 NW Irwin Avenue, Melbourne, FL 32904

Price: $1,955,000

MLS # 1028572

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Type: Multifamily

Bedrooms: N/A

Full Baths: N/A

Half Baths: N/A

List Date: 11-01-2024

Year Built: 1973

Homestead: N/A

7,728 Sq. Ft.

Zoning: N/A

Property Images:

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Property Description:

This exceptional investment opportunity includes 89, 87, and 85 NW Irwin Avenue--a fully renovated, fully occupied complex bringing in $16, 000 monthly in rental income, with the potential to increase rents to $18, 000 monthly. Listed at $1, 955, 000, the property currently yields an annual income of $192, 000, which equates to approximately 9.82% of the listing price. With increased rents, this could rise to $216, 000 annually, or about 11.05%. This complex is comprised of: 89 NW Irwin: A 2-story, 8-unit apartment building, each unit with 1 bedroom and 1 bathroom. 87 NW Irwin: A single-family home with 3 bedrooms and 2 bathrooms. 85 NW Irwin: A duplex, each unit featuring 2 bedrooms and 1 bathroom. With solid current returns and room for growth, this is 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

ZipCode

Tax Amount

$10,134

HOA Dues

$0.00

89 NW Irwin Avenue Melbourne, FL 32904

This listing is courtesy of Relentless Real Estate Co..

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