1832-1838 Pineapple Avenue, Melbourne, FL 32935

$1,400,000

Virtual Tour

https://www.propertypanorama.com/instaview/spc/1016048

Property Type: Residential Income Bedrooms: 6 Square Footage: 8,971 Lot Size (sq. ft.): 17,424 Status: Closed

Current Price: $1,400,000 List Date: 12/10/2024 Last Modified: 9/30/2025

Overview

Description

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.

Listing Details MLS# 1016048

General Property Information

Number Of Buildings: 2
Number Of Units Total: 11
Bedrooms Total: 6
Living Area: 8324
Living Area Source: Assessor
Building Area Total: 8971
Accessibility Features YN: Yes
New Construction YN: No
Year Built: 1925
Garage YN: No
Carport YN: No
Parking Total: 14
Lot Size Acres: 0.4
Lot Size Square Feet: 17424
Association YN: No
Water Body Access YN: No
Stories Total: 2
Pool Private YN: No
List Price/SqFt: 215.04
Sold Price/SqFt: 168.19

Property Features

Construction Materials: Block; Frame; Stucco Cooling: Central Air; Wall/Window Unit(s) Current Use: Multi-Family Flooring: Tile; Vinyl; Wood Heating: Central; Separate Meters; Varies by Unit Laundry Features: Electric Dryer Hookup; In Unit; Washer Hookup Owner Pays: Gas; Insurance; Taxes; Trash Collection; Water Parking Features: Assigned Possession: Close Of Escrow Roof: Membrane; Shingle Sewer: Public Sewer Special Listing Conditions: Standard Tenant Pays: Cable TV; Electricity Utilities: Other Water Source: Public

Contract Information

Original List Price: 2350000
Listing Contract Date: 2024-06-06
Property Sub Type: Multi Family
Comp Sale YN: No

Location Tax and Legal

Street Number: 1832-1838
Street Name: Pineapple
Street Suffix: Avenue
County: Brevard
State: FL
Postal Code: 32935
MLS Area Major: 323 - Eau Gallie

Remarks and Miscellaneous

Public Remarks: 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.

Status Change Information

Major Change Timestamp: 2025-09-09T17:53:53Z
Major Change Type: Status Change
Price Change Timestamp: 2024-12-16T17:36:14Z
Status Change Timestamp: 2025-09-09
Purchase Contract Date: 2025-08-08
Close Date: 2025-09-09
Close Price: 1400000

More Information

Income and Expenses

Gross Scheduled Income: 170460

Unit 1 Details

Unit ID: Yes
Actual Rent: 1410
Unit SqFt: 550
Furnished: Unfurnished
Unit Remarks: SqFt estimated

Unit 2 Details

Unit ID: 2
Actual Rent: 1350
Unit SqFt: 550
Furnished: Unfurnished
Unit Remarks: Studio, SqFt estimated

Unit 3 Details

Unit ID: 3
Actual Rent: 1125
Unit SqFt: 700
Furnished: Unfurnished
Unit Remarks: SqFt estimated

Unit 4 Details

Unit ID: 4
Actual Rent: 1585
Unit SqFt: 750
Furnished: Unfurnished
Unit Remarks: Sqft Estimated

Unit 5 Details

Unit ID: 5
Actual Rent: 1200
Unit SqFt: 550
Furnished: Unfurnished
Unit Remarks: Sqft Estimated

Unit 6 Details

Unit ID: 6
Actual Rent: 1100
Unit SqFt: 550
Furnished: Unfurnished
Unit Remarks: Studio, Sqft estimated

Unit 7 Details

Unit ID: 7
Actual Rent: 1535
Unit SqFt: 700
Furnished: Unfurnished
Unit Remarks: Sqft Estimated

Unit 8 Details

Unit ID: 8
Actual Rent: 1125
Unit SqFt: 750
Furnished: Unfurnished
Unit Remarks: Sqft Estimated

Listing Office: One Sotheby's International

Last Updated: September - 30 - 2025

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