825 E University Blvd | Melbourne, FL 32901
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- LoopNet Team
825 E University Blvd
Melbourne, FL 32901
Jasmine Cove · Multifamily Property For Sale · 42 Units
Investment Highlights
- 42-Unit Value-Add Asset Centrally Located in the Heart of the Space Coast (Melbourne MSA)
- Ability to Burn Off $83k or 14% in Loss-to-Lease by Marking Rents to Market
- Average Rent: $1,032; Market Rent Being Achieved: $1,200; Proforma Rent: $1,500
- Features 2-Story Concrete Block Construction with All Roofs Replaced in the Last 6 Years
- 468+ or 45% Average Monthly Rental Upside Through a Light Value-Add Strategy
- Ability to Install Laundry Connections/Machines & Implement a Water/Sewer/Trash Reimbursement Program
PROPERTY FACTS
| No. Units | 42 | Lot Size | 2.08 AC |
| Property Type | Multifamily | Building Size | 35,724 SF |
| Property Subtype | Apartment | Average Occupancy | 98% |
| Apartment Style | Garden | No. Stories | 2 |
| Building Class | C | Year Built | 1964 |
| No. Units | 42 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.08 AC |
| Building Size | 35,724 SF |
| Average Occupancy | 98% |
| No. Stories | 2 |
| Year Built | 1964 |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 42 | - | 900 |
PROPERTY TAXES
| Parcel Number | 28-37-10-79-00001.0-0000.00 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,039,740 |
PROPERTY TAXES
Parcel Number
28-37-10-79-00001.0-0000.00
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,039,740
zoning
| Zoning Code | R2 |
| R2 |
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