Melbourne

PENDING – Magnolia Park, Melbourne, FL 32901

Beds: 15    Baths: 11     SqFt: 5621

ARV: $760,000     Repairs: $60k   Rent: $5000/mo

$562,500+cc 

Rare opportunity to acquire 6 cash-flowing houses in a great neighborhood in Melbourne. All homes are side by side on the same street and are on city water and sewer. Each concrete block house is currently tenant occupied on month to month agreements and generating around $5000 per month. There are very strong comps in the area with average sold prices upwards of $139 per square foot giving this package a total retail value of $750,000 to $780,000. We recommend holding these as rentals and then fixing and selling them as they become vacant.

-House #1 – 3 beds, 2 baths, 1311 square feet
-House #2 – 2 beds, 2 bath, 744 square feet
-House #3 – 2 beds, 1 bath, 884 square feet
-House #4 – 2 beds, 2 bath, 814 square feet
-House #5 – 3 beds, 2 bath, 744 square feet
-House #6 – 3 beds, 2 bath, 1124 square feet

For Additional Photos Click Here

PENDING – Leewood Blvd., Melbourne, FL 32935

Beds: 4    Baths: 2    SqFt: 1352

ARV: $170k    Repairs: $500 (Rent) or $20k-25k (Flip)     Rent: $1250/mo

$109,900+cc 

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This is a solid turnkey rental located in beautiful Melbourne, Florida. The home has 3 bedrooms, 2 bathrooms and an in-ground pool. All pool systems have been kept in good working order. Currently, the home is tenant occupied through January (being verified) and generating $1250 per month. Similar updated homes in the neighborhood have sold for over $165,000.

SOLD – Roberts St, Melbourne, FL 32901

Beds: 3    Baths: 1    SqFt: 1014

Rent: $1200/mo

$111,900+cc 

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This one is all about that rent return.  How about adding a fully updated single-family home to your rental portfolio for under $115k?   This is the best priced property in the Booker Heights area.  Features a long list of updates, and all that’s missing is the renter.  This property represents a strong rent return, in a low tax/no HOA area.  Close proximity to Florid Institute of Technology, Stone Junior High School, Melbourne Central Catholic High School, and the Indian River.  This is a strong addition to anyone’s rental portfolio. Block construction, brand new kitchen with all appliances, brand new central AC system, new bathroom vanities, tile and hardwood flooring throughout, new drywall and paint, new driveway, interior laundry hook ups,

Property is updated and rent ready immediately

SOLD – Quadruplex – Shady Ln, Melbourne, FL 32935

Beds: 4    Baths: 4     SqFt: 2,392

ROI: 12%    Repairs: $15k

$228,000+cc

Off Market Multi-Family in Melbourne! Come quick because you don’t see a lot of these multi-family opportunities come around. This property is a concrete block Quadplex built in 1952 in Melbourne, FL two blocks away from Million Dollar homes on the Indian River. Each unit is a 1 bedroom 1 bath with 598 sqft of living space and is currently occupied at rents of $450/mo each month to month status. Seller has never increased rents, buyer should turn over units and seek new tenants at market rents of $750/mo for each unit. Each unit is in very good condition, all have wall unit A/C, some can use minor touch up , such as painting cabinets, changing the hardware. One units bedroom needs ceiling on the drywall as seller did not finish after adding insulation. Each unit has 50 amp service and I had allocated $12k in repairs (Electrician’s highest estimate) to upgrade to 100 amp service. Taxes $2,800, Insurance $2,400. After Taxes, Insurance, $15k in repairs, and closing costs if you are all in at $250k, ROI with each unit brining in $750/mo is 12.32%. This will make a great addition to anyone’s portfolio, so don’t let miss out.

Comps:

  • 600 Creel St – 4/4, 1,992 sqft, built in 1959 – Sold for $280k – Clean but Dated
  • More comps available in the link below!

For additional comps & photos Click Here

SOLD – Thomas Dr, Melbourne, FL 32935

Beds: 3    Baths: 2    Sq.Ft: 1444

ARV: $140k    Repairs: $20k  

$105,000+cc

Great area just minutes to beautiful beaches. Would make a great rental or flip opportunity in Melbourne where inventory is very low, especially in this neighborhood. This property is a 2/1 with a carport conversion into a family room and a concrete addition of a Florida Room which could easily be converted to a master suite making it a 3/2. Property features a detached concrete garage in the rear, an open layout and a dining area. Electrical, plumbing, AC and roof is all in good condition. The kitchen, bathroom and flooring will all need to be updated. Interior and exterior paint must be applied. Doors should be replaced throughout and a closet to the Florida room to make a 3rd bedroom. For max retail value, a 3rd bathroom should be added.

COMPS:

  • *Nothing in Melbourne available in this area – 1891 DAWN DR, MELBOURNE – 3/2 – Bought for 95k cash and sold in 2 months for 127k Cash outdated with no rehab

For additional photos Click Here

SOLD – Kefauver St, Melbourne, Florida 32935

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Beds: 4   Baths: 2   Sq. Ft: 1,520

ARV: $150k   Repairs: $60k

$50,000+cc

This concrete block pool home has 4 bedrooms, 2 bathrooms, 1 car carport and is 1,520 square feet. This home is going to need a complete renovation. Most of the electric has been removed from the house and it will need drywall repair. There is a big pool in the backyard. It will need to be redone as well. Most of the windows are broken. you may be able to replace the glass in some of them. I figured the repairs to be around $60k and the after repair value to be $150,000. Please call, text or email form more information. Contact me at 407-404-3225 or email me at Alex@VaultVentures.net

Comps:

  • 1050 Holland – 4/2/carport – 1,560 sq. ft. – NO pool – rehabbed – sold 8 days – $140,000
  • 1026 Holland – 3/2/0 – 1,312 sq. ft. – no pool – clean dated – sold $130,000
  • 2619 Kefauver – 3/2/carport – 1,400 sq. ft. dated – pool – $125,000 cash
  • 2598 Trammel – 3/2/1 – 1,488 sq. ft. – cheap update – no pool – PENDING – 8 days – $149,000

For additional photos Click Here