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704 E LINCOLN AVENUE

Multi-family For Sale
$795,000

BTC: 8.07926829

ETH: 237.31343284

-$55K (2024/10/22)
62 days
0 room(s)
2,619 sqft
Est. Estimated sales range: $0 - $0
$0

Overview

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

Florida • MELBOURNE • 32901 • Multi-family • For Sale

Facts and features

Type:
Residential Income
Parking:
No Data
Year Built:
1926
Lot:
0.20 Acres
Heating:
Central / Zoned
Price/sqft:
$304
Cooling:
Central Air / Zoned
HOA:
No Data
All facts and features

  • Flooring

    • Ceramic Tile

    • Hardwood

    Heating

    • Central

    • Zoned

    Cooling

    • Central Air

    • Zoned

    Other interior features

    • Ceiling Fan(s)

    • Window Treatments

  • Property

    • Exterior Features: Sidewalk

    Lot

    • Lot: 0.20 Acres

    Other Property Information

    • Parcel Number: 28 3703FC3614

    • Zoning: C1

  • Type and style

    • Property Type: Residential Income

    • Property Sub Type: Quadruplex

  • Utility

    • Cable Available

  • Other financial information

    • Annual tax amount: $7,074

  • Source details

    • MLS ID: O6242336

    Other facts

    • Construction Materials: Block / Stucco

    • Foundation Details: Slab

    • Laundry Features: None

    • Fireplace: Yes

    • Living Area: 2619

    • Water Source: Public

    • Subdivision Name: CAMPS PLAT OF MELBOURNE

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The multiple listing information is provided by the Stellar MLS from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024-present Stellar MLS. All Rights Reserved. The information provided is for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Listing courtesy of: PINEAPPLE PLACE REALTY, LLC