5001 Malabar Boulevard 101, 102, 103, 104, Melbourne Beach, FL 32951
$1,700,000
Property Type:
Residential Income
Square Footage:
4,900
Lot Size (sq. ft.):
21,344
Status:
Closed
Current Price:
$1,700,000
List Date:
6/14/2023
Last Modified:
10/23/2024
Description
RARE INCOME PRODUCING OPPORTUNITY!!! Welcome to Water Lily- FOUR 2/2 UNITS, elegantly renovated, with the option to maximize returns through PERMITTED SHORT TERM RENTALS! Located in the quaint coastal town of Melbourne Beach, FL, this block constructed quad was built in 1987 and is nestled on a .49 acre lot, across from the Atlantic Ocean with A1A frontage for advertising, there is room to add outdoor amenities, or expand revenue streams with RV rentals. ONE BLOCK serene walk to BEACH ACCESS with private feeling, untouched beaches. Vacationers and tenants alike will enjoy 1 car garages, fully fenced back yards, vaulted ceilings, walk in closets, full size washers and dryers, and huge screened porches. Some big ticket upgrades other than the full cosmetic interior/exterior, are
Supplements: hurricane impact windows, water heaters, matching new Whirlpool appliances, and commercial water system offering clean, odorless water with no staining (see docs for full list). Separately metered electric, shared Artesian well with oversized septic, block wall between units and firebreak in attic, offers option to split units and sell individually. Newer AC's, all have been serviced, and 2013 roof in excellent condition. Smart locks on every front door, makes for easy access for all. Minutes to daily needs and local attractions such as Sebastian Inlet and Cocoa Beach, 1.5 hours to Orlando, 3 hours to Tampa and Miami Beach. Whether using a 1031 exchange or hedging against inflation, these well appointed, sophisticated, quality built units create a rare and perfect opportunity for a savvy investor to take advantage of the booming beachside rental market in FL, while gaining appreciation, virtually maintenance free for many years to come!
More Information MLS# 967532
Location, Tax, and Legal
Unit Number: 101, 102, 103, 104
Tax Account: 2953275
Parcel Number: 29-38-03-75-00000.0-0001.00
General County Location: South
Elementary School: Gemini
Middle School: Hoover
High School: Melbourne
Tax Annual Amount: 8595.82
Tax Year: 2022
Tax Legal Description: BEACH TOWNHOUSES LOTS 1 THUR 4 AND TRACT A
Directions: From A1A head south passed the Publix Plaza. Turn Right onto Spoonbill, make your first Left onto Malabar- property is on Left.
General Property Information
Number Of Units Total: 4
Living Area: 3722
Living Area Source: Public Records
Building Area Total: 4900
Lot Size Acres: 0.49
Lot Size Square Feet: 21344
Association YN: No
Garage YN: No
Garage Spaces: 0
Carport YN: No
Carport Spaces: 0
Waterfront YN: No
Use Code: 08 / QUADRUPLEX
Water Body Access YN: No
Pool Private YN: No
List Price/SqFt: 470.18
Sold Price/SqFt: 456.74
Year Built: 1987
Remarks and Miscellaneous
Public Remarks: RARE INCOME PRODUCING OPPORTUNITY!!! Welcome to Water Lily- FOUR 2/2 UNITS, elegantly renovated, with the option to maximize returns through PERMITTED SHORT TERM RENTALS! Located in the quaint coastal town of Melbourne Beach, FL, this block constructed quad was built in 1987 and is nestled on a .49 acre lot, across from the Atlantic Ocean with A1A frontage for advertising, there is room to add outdoor amenities, or expand revenue streams with RV rentals. ONE BLOCK serene walk to BEACH ACCESS with private feeling, untouched beaches. Vacationers and tenants alike will enjoy 1 car garages, fully fenced back yards, vaulted ceilings, walk in closets, full size washers and dryers, and huge screened porches. Some big ticket upgrades other than the full cosmetic interior/exterior, are
Appliances
Dishwasher: 1
Disposal: 1
Dryer: 1
Electric Range: 1
Microwave: 1
Refrigerator: 1
Washer: 1
Water Softener Owned: 1
Closing Company Details
Closing Company Name: Jeremy Rannings- Prestige Title of Brevard
Closing Company Address: 2150 Highway US1 Palm Shores, FL 32940
Construction Materials
Block: 1
Concrete: 1
Stucco: 1
Cooling
Central Air: 1
Flooring
Vinyl: 1
Levels
One: 1
Listing Terms
Cash: 1
Conventional: 1
FHA: 1
VA Loan: 1
Parking Features
Attached: 1
RV Access/Parking: 1
Pool Features
None: 1
Possession
Close Of Escrow: 1
Owner Pays
Other: 1
Road Surface Type
Paved: 1
Roof
Shingle: 1
Sewer
Septic Tank: 1
Special Listing Conditions
Standard: 1
Utilities
Electricity Connected: 1
Separate Electric Meters: 1
Water Available: 1
Water Source
Well: 1
Showing Requirements
Lockbox: 1
Showing Service: 1
Historical Information
Public Historical Remarks 3: Possible Financing-1031 Exchange: Y, Number of Buildings: 1 Building
Contract Information
Current Price: $1,700,000
Original List Price: 1880000
Sold Price: $1,700,000
Status: Closed
Listing Contract Date: 2023-06-14
Property Sub Type: Quadruplex
Location Tax and Legal
Street Number: 5001
Street Name: Malabar
Street Suffix: Boulevard
County: Brevard
State: FL
Postal Code: 32951
MLS Area Major: 385 - South Beaches
Status Change Information
Major Change Timestamp: 2023-11-11T03:50:04Z
Major Change Type: Price Reduced
Price Change Timestamp: 2023-07-07T18:25:19Z
Status Change Timestamp: 2023-08-21
Purchase Contract Date: 2023-07-22
Close Date: 2023-08-21
Close Price: 1700000
Property Features
Appliances: Dishwasher; Disposal; Dryer; Electric Range; Microwave; Refrigerator; Washer; Water Softener Owned
Construction Materials: Block; Concrete; Stucco
Cooling: Central Air
Flooring: Vinyl
Levels: One
Listing Terms: Cash; Conventional; FHA; VA Loan
Owner Pays: Other
Parking Features: Attached; RV Access/Parking
Pool Features: None
Possession: Close Of Escrow
Road Surface Type: Paved
Roof: Shingle
Sewer: Septic Tank
Special Listing Conditions: Standard
Utilities: Electricity Connected; Separate Electric Meters; Water Available
Water Source: Well
Showing Requirements: Lockbox; Showing Service
Listing Office:
Florida Homes Rlty. & Mtg. LLC
Last Updated: October - 23 - 2024
Information is deemed to be reliable, but is not guaranteed.