704 E LINCOLN AVE Active Save Request In-Person Tour Request Virtual Tour
Melbourne,FL 32901
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,619 sqft
Price per Sqft $318
Subdivision Camps Plat Of Melbourne
MLS Listing ID O6242336
HOA Y/N No
Originating Board Stellar MLS
Year Built 1926
Annual Tax Amount $7,074
Lot Size 8,712 Sqft
Acres 0.2
Property Description
TURN-KEY vacation rental investment opportunity 2 blocks from Historic Downtown. Operated as a professionally managed STR since 2018, the Lincoln Guest House has broad appeal to vacationers, students and professionals. This Spanish Colonial quadraplex apartment offers four one-bedroom/one-bath apartments metered separately. The units are fully furnished and thoughtfully decorated with a mix of modern aesthetic and old-Florida charm. The quad is within walking distance of restaurants, bars, shops with Indialantic beaches just over the causeway and easy access to US1 and A1A. Established STR operation with high occupancy currently listed on Airbnb, VRBO, direct website and mid-term channels. Professionally managed, property has a long income history, streamlined operations and software stack to optimize occupancy and rates. This is a great passive investment opportunity, turnkey self-managed STR or 1031 exchange. Professional management with Superhost status can continue.
Improvements: new roof installed 2023 and 4 high-efficiency ductless AC systems also installed in 2023. Flexible C1 mixed-use zoning.
Gross income of $110,000 (3 yr avg) with very high occupancy and steady income.
Location
State FL
County Brevard
Community Camps Plat Of Melbourne
Zoning C1
Interior
Interior Features Ceiling Fans(s),Window Treatments
Heating Central,Zoned
Cooling Central Air,Zoned
Flooring Ceramic Tile,Wood
Fireplace true
Laundry None
Exterior
Exterior Feature Sidewalk
Utilities Available Cable Available
Waterfront false
Roof Type Other
Garage false
Private Pool No
Building
Foundation Slab
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Structure Type Block,Stucco
New Construction false
Others
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash,Conventional,VA Loan
Listing Terms Cash,Conventional,VA Loan
Special Listing Condition None