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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.
| DAYS ON MARKET | 67 | LAST UPDATED | 10/22/2024 |
|---|---|---|---|
| TRACT | CAMPS PLAT OF MELBOURNE | YEAR BUILT | 1926 |
| COMMUNITY | 32901 - Melbourne | COUNTY | Brevard |
| STATUS | Active | PROPERTY TYPE(S) | Multi Family |
| PRICE HISTORY | |
| Prior to Oct 15, '24 | $850,000 |
|---|---|
| Oct 15, '24 - Oct 22, '24 | $835,000 |
| Oct 22, '24 - Today | $795,000 |
| ADDITIONAL DETAILS | |
| AIR | Central Air, Zoned |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | 32901 - Melbourne |
| CONSTRUCTION | Block, Stucco |
| FIREPLACE | Yes |
| HEAT | Central, Zoned |
| LOT | 8712 sq ft |
| SEWER | Public Sewer |
| SUBDIVISION | CAMPS PLAT OF MELBOURNE |
| TAXES | 7074 |
| UTILITIES | Cable Available |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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Listing provided by Andrea Aylett-Hosch, PINEAPPLE PLACE REALTY, LLC
The information contained herein has been provided by My Florida Regional MLS DBA Stellar MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. Listings last updated 11/22/24 5:29 PM PST.
This IDX solution is (c) Diverse Solutions 2024.