1328 S Patrick Drive, Satellite Beach, FL 32937

$820,000

Virtual Tour

http://www.circlepix.com/tour/titan/?id=3684515&version=unbranded#.V2LejfkrKUk

Property Type: Residential Income Square Footage: 5,936 Lot Size (sq. ft.): 19,166 Status: Closed

Current Price: $820,000 List Date: 8/24/2016 Last Modified: 8/06/2026

Overview

Description

12 rental units located in an ideal part of Satellite Beach. The property is situated on .44 acres. Each unit is a 1 bedroom 1 bath with large closets. There is a huge demand for rentals like these in the area!!! Many of the tenants have been there a long, long time and the rents are WELL BELOW MARKET RATES. An 8% return is easily achievable. All railings have been replaced, the building has been painted, and a new permitted ROOF was installed in 2015. This is a most excellent property.

Listing Details MLS# 757144

General Property Information

Number Of Units Total: 12
Living Area: 5824
Living Area Source: Public Records
Building Area Total: 5936
Year Built: 1962
Garage YN: No
Lot Size Acres: 0.44
Lot Size Dimensions: 128.0 ft x 150.0 ft
Association YN: No
Water Body Access YN: No
Waterfront YN: No
Pool Private YN: No
List Price/SqFt: 171.53
Sold Price/SqFt: 140.8
Lot Size Square Feet: 19166
Carport YN: No

Property Features

Appliances: Other Construction Materials: Block; Concrete Cooling: Wall/Window Unit(s) Flooring: Carpet; Terrazzo Levels: Two Listing Terms: Cash; Conventional Owner Pays: Cable TV; Electricity; Insurance; Pest Control; Repairs; Sewer; Taxes; Trash Collection; Water Pool Features: None Possession: Close Of Escrow Roof: Membrane Special Listing Conditions: Standard Utilities: Cable Available; Electricity Connected; Separate Electric Meters; Sewer Connected; Water Available Water Source: Public Contingency Reason: Other Showing Requirements: Appointment Only; Call Listing Office

Contract Information

OriginalListPrice: 1100000
Listing Contract Date: 2016-06-13
Property Sub Type: Multi Family

Location Tax and Legal

Street Number: 1328
Street Direction Prefix: S
Street Name: Patrick
Street Suffix: Drive
County: Brevard
State: FL
Postal Code: 32937
MLS Area Major: 382-Satellite Bch/Indian Harbour Bch
Subdivision Name: Satellite Beach Isles

Remarks and Miscellaneous

Public Remarks: 12 rental units located in an ideal part of Satellite Beach. The property is situated on .44 acres. Each unit is a 1 bedroom 1 bath with large closets. There is a huge demand for rentals like these in the area!!! Many of the tenants have been there a long, long time and the rents are WELL BELOW MARKET RATES. An 8% return is easily achievable. All railings have been replaced, the building has been painted, and a new permitted ROOF was installed in 2015. This is a most excellent property.

Status Change Information

Major Change Timestamp: 2023-11-11T03:44:26Z
Major Change Type: Price Reduced
Price Change Timestamp: 2016-09-08T19:46:32Z
StatusChangeDate: 2016-12-13
Contingency: Active Under Contract
Purchase Contract Date: 2016-10-14
Close Date: 2016-12-13
Close Price: 820000

More Information

Income and Expenses

Gross Scheduled Income: 69900
Net Operating Income: 46704
Operating Expense: 23196

Historical Information

Public Historical Remarks 3: Number of Buildings: 1 Building

Location, Tax, and Legal

Tax Account: 2612062
Directions: Located at the intersection of South Patrick Drive and Island Drive which is just north of the Satellite Beach Fire Department.

Listing Office: RE/MAX Aerospace Realty

Last Updated: August - 06 - 2026

Information is deemed to be reliable, but is not guaranteed.