7521 Magnolia Avenue
Cape Canaveral, FL 32920

Description

Incredible concrete block multifamily investment opportunity only 2 blocks from the beach, 1 mile from Port Canaveral, and 1 mile to the Cocoa Beach Pier. High demand rental area with several new developments in the planning and construction stages nearby. Next to the city park, and 1 block from the library. Building is currently gutted and boarded, with level 3 rehab required to bring it up to code. Two new roofs complete, but a new permit must be issued. One smaller shingle section still needs repair. $167,261.00 code enforcement judgement, and 5 years back-taxes in the amount of $26,810.42 will be paid from proceeds at closing. Repair estimates range from $150,000 - $300,000. Gross potential rent - approximately $90,000. After repair value - approximately $900,000.

Details

MLS#834314
Sub-TypeResale
StatusContingent
Days On Site69

Features

SQ Feet4,906
Units8
Building(s)2

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Area Information

StateFL
CountyBrevard
CityCape Canaveral
Zip Code32920
Area271 - Cape Canaveral
Listing VS Median (in 32920)
Price:
$399,000
low | high
Med:
$122,500
100% of Average
SqFt:
4,906
low | high
Med:
523
100% of Average
$ / SqFt:
$81
low | high
Med:
$234
100% of Average
On Site:
69
low | high
Med:
112
61.607142857143% of Average
Listing Updated: 03/25/2019
MLS Number: 834314
Listing Provided By:
James Flint  of  Fischer Realty

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