1832-1838 Pineapple Ave Melbourne, FL 32935
Estimated payment $11,198/month
Highlights
- 0.4 Acre Lot
- No HOA
- Central Heating and Cooling System
- Wood Flooring
- Cooling System Mounted To A Wall/Window
About This Home
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.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $14,484
Year Built
- Built in 1925
Lot Details
- 0.4 Acre Lot
Home Design
- Frame Construction
- Shingle Roof
- Membrane Roofing
- Block Exterior
- Stucco
Interior Spaces
- 6 Bedrooms
- 8,324 Sq Ft Home
- 2-Story Property
Flooring
- Wood
- Tile
- Vinyl
Laundry
- Laundry in unit
- Washer and Electric Dryer Hookup
Parking
- 14 Parking Spaces
- Assigned Parking
Schools
- Creel Elementary School
- Johnson Middle School
- Eau Gallie High School
Utilities
- Cooling System Mounted To A Wall/Window
- Central Heating and Cooling System
- Separate Meters
Listing and Financial Details
- The owner pays for gas, insurance, taxes, trash collection, water
Community Details
Overview
- No Home Owners Association
- 2 Buildings
- 11 Units
Building Details
- Gross Income $170,460
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 12/16/2024 12/16/24 | Price Changed | $1,790,000 | -5.3% | $215 / Sq Ft |
| 12/10/2024 12/10/24 | For Sale | $1,890,000 | 0.0% | $227 / Sq Ft |
| 12/06/2024 12/06/24 | Off Market | $1,890,000 | -- | -- |
| 10/15/2024 10/15/24 | Price Changed | $1,890,000 | -5.5% | $227 / Sq Ft |
| 07/17/2024 07/17/24 | Price Changed | $1,999,999 | -4.8% | $240 / Sq Ft |
| 07/02/2024 07/02/24 | Price Changed | $2,100,000 | -10.6% | $252 / Sq Ft |
| 06/06/2024 06/06/24 | For Sale | $2,350,000 | -- | $282 / Sq Ft |
Source: Space Coast MLS (Space Coast Association of REALTORS®)
MLS Number: 1016048
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