1832-1838 Pineapple Avenue, Melbourne, FL 32935
Description:
This is a rare opportunity to own 11 units in the sought-after Eau Gallie Arts District at the Libbyan Apartments.Built in 1925/1964, this historic property has been completely renovated, preserving its old-world charm while modernizing its amenities.Six of the 11 units have been fully updated, offering an excellent opportunity for a new owner to renovate the remaining five units and increase rents. The property requires minimal maintenance, featuring artificial grass throughout the grounds.The unit mix is highly attractive, consisting of six one-bedroom, one-bath units,two studios, and three two-bedroom, one-bath units.Currently, the property generates a gross income of $170,460, with one unit vacant. Significant upgrades have already been completed to the property (see list).
This is your chance to capitalize on a unique investment in a vibrant, up-and-coming area. Don't miss out on owning a fantastic asset with both historical significance and modern comforts.
Space Coast Association of REALTORS Listing Number: 1016048
1832-1838 Pineapple Avenue, Melbourne, FL 32935
8324 Sq.ft · 6 Bedrooms · 0.4 Acres
$1,790,000
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- 1832-1838 Pineapple Avenue
- 8324 Sq.ft.
- 6 Bedrooms
- $1,790,000
