215 Riverside Dr
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215 Riverside Dr
10 Unit Apartment Building $1,600,000 ($160,000/Unit) 6.86% Cap Rate Cocoa, FL 32922
Executive Summary
Own a piece of history! This amazing 12 unit complex right in Cocoa Village is a turn key income producing property, with 100' of water frontage. Each unit is unique, some with their own balconies, water views, and multi level rooms. From studios, 1 bed, 2 beds, and a 3 bed unit, there is unlimited opportunity. There is a front main entrance with interior stairs to access the units, as well as a rear access to the main parking area. With all parking in the rear of the building, you have a clear view to the Indian River from almost every unit.
Unit 1
1 bed
$1,100.00
Remodeled
Unit 2
Loft
$700.00
Same tenant 5 years
Unit 3
2 bed
$1200.00
2nd floor Rear view somewhat updated
Unit 4
1 bed
$1050.00
2nd floor river viewOpen concept large bedroom
Unit 5
Studio
$875.00
2nd floor small deck
Unit 6
1 bed
$875.00
3rd floor total remodel
Unit 7
Studio
$750.00
3rd floor Large studio
Unit 8
Studio
$925.00
3rd floor small deck
Unit 9
1 bed
$900.00
2nd floor large 1 bed
Unit 10
1 bed
$750.00
1st floor screen porch
Unit 11
1 bed
$950.00
1st floor large 1 bedroom
Unit 12
3 bed
$1900.00
1st floor largest
Unit 1
1 bed
$1,100.00
Remodeled
Unit 2
Loft
$700.00
Same tenant 5 years
Unit 3
2 bed
$1200.00
2nd floor Rear view somewhat updated
Unit 4
1 bed
$1050.00
2nd floor river viewOpen concept large bedroom
Unit 5
Studio
$875.00
2nd floor small deck
Unit 6
1 bed
$875.00
3rd floor total remodel
Unit 7
Studio
$750.00
3rd floor Large studio
Unit 8
Studio
$925.00
3rd floor small deck
Unit 9
1 bed
$900.00
2nd floor large 1 bed
Unit 10
1 bed
$750.00
1st floor screen porch
Unit 11
1 bed
$950.00
1st floor large 1 bedroom
Unit 12
3 bed
$1900.00
1st floor largest
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,600,000 | Building Class | C |
| Price Per Unit | $160,000 | Lot Size | 0.59 AC |
| Sale Type | Investment | Building Size | 5,963 SF |
| Cap Rate | 6.86% | Average Occupancy | 90% |
| No. Units | 10 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1922/2024 |
| Property Subtype | Apartment | Parking Ratio | 2.68/1,000 SF |
| Apartment Style | Low Rise |
| Price | $1,600,000 |
| Price Per Unit | $160,000 |
| Sale Type | Investment |
| Cap Rate | 6.86% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.59 AC |
| Building Size | 5,963 SF |
| Average Occupancy | 90% |
| No. Stories | 3 |
| Year Built/Renovated | 1922/2024 |
| Parking Ratio | 2.68/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Heating
- Security System
- Range
- Tub/Shower
- Views
- Wi-Fi
- Yard
- Dock
Site Amenities
- 24 Hour Access
- Waterfront
- Gas Range
- Trash Pickup - Curbside
- Vintage Building
- Dock
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | $700.00 | - |
| 1+1 | 6 | $925.00 | - |
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PROPERTY TAXES
| Parcel Number | 24-36-33-81-00000.0-0008.00 | Total Assessment | $903,650 |
| Land Assessment | $512,500 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $391,150 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
24-36-33-81-00000.0-0008.00
Land Assessment
$512,500
Improvements Assessment
$391,150
Total Assessment
$903,650
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
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215 Riverside Dr
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