620 E New Haven Avenue, Melbourne, FL 32901

Property Details:

This recently renovated mixed use downtown building contains five apartments and two retail spaces. A profitable, performing rental property with fresh tenants is rare on this coveted downtown strip. This is your chance to purchase a property with good economic performance today and a huge future value potential as Downtown Melbourne continues to flourish. Renovations included roof replacement, paint, new impact rated windows, a new front patio, landscaping, parking lot replacement, new air conditioning units and many other improvements. Building has been designed and set up for a long, profitable holding for a party seeking passive income. ~6% CAP Rate at current levels, can be increased by new owners.

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• Acres0.19 acres
• Area330 - Melbourne
• Available InfoCopies of Lease,Survey
• CityMelbourne
• Clear Ceiling Height4002.00
• ConstructionBlock, CBS, CBS, Concrete and Mixed
• CoolingCeiling Fan(s), Central Air and Electric
• CountyBrevard
• Cumulative DOM260
• Current Lease1 - 3 Years
• Days On Market260
• DirectionsLocated beside post office on E. New Haven in downtown Melbourne.
• Expenses: Maintenance & Repair$5,000
• Fire ProtectionSmoke Alarm and Smoke Detector
• FlooringCarpet, Concrete, Other and Tile
• General County LocationCentral
• Gross Operating Income130800.00
• HeatingElectric and Gas
• Legal DescriptionCAMPS PLAT OF MELBOURNE LOT 7 BLK 40
• Listing DateThursday, July 14th, 2022
• Listing ID940091
• Listing StatusActive
• LocationCentral Business Dst
• Net Operating Income119114.20
• Number of Stories2.0
• Percent AC/Heated100%
• PossessionAt Closing and Subject to Lease
• Property TypeCommercial
• Property UseC-MULTIPLE LIVING UNITS - 5 TO 9 UNITS (0850)
• Real Estate Taxes$5,936.96
• RoofComp Rolled
• Roof: OtherYES
• Sale IncludesBuilding & Land
• Special InformationCity Jurisdiction, Corporate Owned and Presently Leased
• SqFt - Total4,002 sqft
• State/ProvinceFL
• StatusActive
• Street DirectionE
• Street NameNew Haven
• Street Number620
• Street SuffixAvenue
• Tax Year2020
• Tenant PaysAC Main, Common Area Maint., Electric, Gas, Repairs, Sewer, Trash and Water
• Terms ConsideredCash and Conventional
• Total Building Area4002.00
• Total Units7
• TypeMulti Family
• Unit 1: Annual Rent21000.00
• Unit 1: Half Baths1
• Unit 1: Number Units (This Type)2
• Unit 1: Unit DescriptionRetail Shop
• Unit 2: Annual Rent32400.00
• Unit 2: Half Baths1
• Unit 2: Number Units (This Type)2
• Unit 2: Unit DescriptionRetail Shop
• Unit 3: Annual Rent12000.00
• Unit 3: Full Baths1
• Unit 3: Number Units (This Type)3
• Unit 3: Unit DescriptionOne Bedroom Apt
• Unit 4: Annual Rent16800.00
• Unit 4: Full Baths1
• Unit 4: Number Units (This Type)3
• Unit 4: Unit DescriptionOne Bedroom Apt
• Unit 5: Annual Rent7800.00
• Unit 5: Full Baths1
• Unit 5: Number Units (This Type)3
• Unit 5: Unit DescriptionOne Bedroom
• Unit 6: Annual Rent20400.00
• Unit 6: Full Baths1
• Unit 6: Number Units (This Type)2
• Unit 6: Unit DescriptionTwo Bedroom Apt
• Unit 7: Annual Rent20400.00
• Unit 7: Full Baths1
• Unit 7: Number Units (This Type)2
• Unit 7: Unit DescriptionTwo Bedroom Apt
• Unit Number20102
• Use Code12 / COMMERCIAL, MIXED USE
• UtilitiesGas - Natural Gas, Municipal Water and Public Sewer
• Year Built1954
• Zip Code32901