Active

704 E LINCOLN AVE

MELBOURNE FL, 32901

$795,000


$303.55 per sqft

Active

2,619 sqft

Multi-family

Built in 1926

PRICE IMPROVEMENT! 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.

O6242336

MLS ID

September 19, 2024

Listed

November 22, 2024

Updated

Map

704 E LINCOLN AVE
MELBOURNE FL, 32901

Interior Features

Interior Features

Ceiling Fans(s), Window Treatments


Laundry Description

None


Floor Description

Ceramic Tile, Wood


Fireplace

Yes


Cooling

Yes


Cooling Description

Central Air, Zoned


Heating

Yes


Heating Description

Central, Zoned

Exterior/Building Features

Lot Size

0.2 Acres


Exterior Features

Sidewalk


Roof

Other


Sewer

Public Sewer

Other Property Details

Area Name

32901 - Melbourne


Taxes

$7,074


Tax Frequency

Annually


Days on Market

34


Association Fee Frequency

Monthly


Garage

No


View

No


County

Brevard


Municipality

28


Water Source

Public


Pool

No


Zoning

C1

Listing History

Date

Event

Price

10/22/2024

Price change

$795,000

-5%

10/15/2024

Price change

$835,000

-2%

Listed by PINEAPPLE PLACE REALTY, LLC
Listing Contact: 407-497-8563 

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Data last updated 11/22/2024, 7:53 AM UTC

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