1473 S Atlantic Avenue, Cocoa Beach, FL 32931
$1,600,000
Property Type:
Residential Income
Square Footage:
4,320
Lot Size (sq. ft.):
12,632
Status:
Closed
Current Price:
$1,600,000
List Date:
1/09/2018
Last Modified:
10/23/2024
Description
Coco Sands Cottages is an ocean front complex in South Cocoa Beach that consists of three buildings, currently operating as a combined long-term multifamily income property, and a short-term vacation rental. However, current zoning would allow a change in use to 100% vacation rental, which would dramatically increase the income.
Offering includes a completely remodeled and impeccably maintained 3/3 oceanfront vacation rental, plus 6 long-term rentals.
Oceanfront home can be rented simultaneously as a 2/2 with a full kitchen, and a 1/1 with a kitchenette. Some recent updates include granite countertops, new appliances, gas stove, and oversized high impact glass windows overlooking the Ocean. Over 1000 square foot patio and deck.
See pro forma with financial details in attachments.
Supplements: attachments.
More Information MLS# 802044
Location, Tax, and Legal
Tax Account: 2519740
Parcel Number: 25-37-23-Dd-00015.0-0010.00
General County Location: Central
Elementary School: Roosevelt
Middle School: Cocoa Beach
High School: Cocoa Beach
Tax Annual Amount: 20701.4
Tax Year: 2017
Tax Legal Description: COCOA BEACH LOT 10 BLK 15
Directions: Atlantic Avenue (oceanfront) between 14th & 15th Streets South in Cocoa Beach. Coco Sands Cottages sign is on street side apartment building. There are 3 buildings on the property.
General Property Information
Number Of Units Total: 8
Living Area: 3928
Living Area Source: Other
Building Area Total: 4320
Lot Size Acres: 0.29
Lot Size Dimensions: 50x250
Lot Size Square Feet: 12632
Association YN: No
Garage YN: No
Garage Spaces: 0
Carport YN: Yes
Carport Spaces: 2
Waterfront YN: Yes
Open Parking Spaces: 10
Parking Total: 12
Use Code: 08/MULTI-FAMILY
Water Body Access YN: No
Pool Private YN: No
List Price/SqFt: 420.06
Sold Price/SqFt: 407.33
Year Built: 1961
Remarks and Miscellaneous
Public Remarks: Coco Sands Cottages is an ocean front complex in South Cocoa Beach that consists of three buildings, currently operating as a combined long-term multifamily income property, and a short-term vacation rental. However, current zoning would allow a change in use to 100% vacation rental, which would dramatically increase the income.
Offering includes a completely remodeled and impeccably maintained 3/3 oceanfront vacation rental, plus 6 long-term rentals.
Oceanfront home can be rented simultaneously as a 2/2 with a full kitchen, and a 1/1 with a kitchenette. Some recent updates include granite countertops, new appliances, gas stove, and oversized high impact glass windows overlooking the Ocean. Over 1000 square foot patio and deck.
See pro forma with financial details in attachments.
Appliances
Dishwasher: 1
Dryer: 1
Electric Range: 1
Microwave: 1
Washer: 1
Construction Materials
Block: 1
Concrete: 1
Stucco: 1
Cooling
Central Air: 1
Wall/Window Unit(s): 1
Flooring
Carpet: 1
Laminate: 1
Tile: 1
Laundry Features
Electric Dryer Hookup: 1
Levels
Two: 1
Listing Terms
Cash: 1
Conventional: 1
Private Financing Available: 1
Parking Features
Carport: 1
Pool Features
None: 1
Possession
Close Of Escrow: 1
Income and Expenses
Gross Income: 0
Gross Scheduled Income: 102000
Net Operating Income: 30000
Operating Expense: 72000
Owner Pays
Cable TV: 1
Electricity: 1
Grounds Care: 1
Insurance: 1
Management: 1
Pest Control: 1
Repairs: 1
Sewer: 1
Taxes: 1
Trash Collection: 1
Water: 1
Roof
Concrete: 1
Membrane: 1
Shingle: 1
Wood: 1
Special Listing Conditions
Standard: 1
Utilities
Cable Available: 1
Electricity Connected: 1
Natural Gas Connected: 1
Separate Electric Meters: 1
Separate Gas Meters: 1
Separate Water Meters: 1
Water Available: 1
Water Source
Public: 1
Waterfront Features
Ocean Front: 1
Showing Requirements
Appointment Only: 1
Historical Information
Public Historical Remarks 3: Site Location-Major Roadway: Y, Possible Financing-Contract for Deed: Y, Expenses Include-Supplies: Y, Expenses Include-License Permits: Y, Expenses Include-Advertising: Y, Parking-> 1 Space Per Unit: Y, Equipment/Appliances-Range: Y, Number of Buildings: 3 Buildings
Contract Information
Current Price: $1,600,000
Original List Price: 1750000
Sold Price: $1,600,000
Status: Closed
Listing Contract Date: 2018-01-09
Property Sub Type: Duplex
Location Tax and Legal
Street Number: 1473
Street Direction Prefix: S
Street Name: Atlantic
Street Suffix: Avenue
County: Brevard
State: FL
Postal Code: 32931
MLS Area Major: 272 - Cocoa Beach
Status Change Information
Major Change Timestamp: 2023-11-11T03:44:51Z
Major Change Type: Price Reduced
Price Change Timestamp: 2018-04-16T17:02:05Z
Status Change Timestamp: 2018-07-21
Purchase Contract Date: 2018-06-03
Close Date: 2018-07-19
Close Price: 1600000
Property Features
Appliances: Dishwasher; Dryer; Electric Range; Microwave; Washer
Construction Materials: Block; Concrete; Stucco
Cooling: Central Air; Wall/Window Unit(s)
Flooring: Carpet; Laminate; Tile
Laundry Features: Electric Dryer Hookup
Levels: Two
Listing Terms: Cash; Conventional; Private Financing Available
Owner Pays: Cable TV; Electricity; Grounds Care; Insurance; Management; Pest Control; Repairs; Sewer; Taxes; Trash Collection; Water
Parking Features: Carport
Pool Features: None
Possession: Close Of Escrow
Roof: Concrete; Membrane; Shingle; Wood
Special Listing Conditions: Standard
Utilities: Cable Available; Electricity Connected; Natural Gas Connected; Separate Electric Meters; Separate Gas Meters; Separate Water Meters; Water Available
Water Source: Public
Waterfront Features: Ocean Front
Showing Requirements: Appointment Only
Listing Office:
Housing Market LLC
Last Updated: October - 23 - 2024
Information is deemed to be reliable, but is not guaranteed.