$184,000
Merritt Island, FL 32953
MLS# 842938
Status: Closed
3100 sqft
1 / 16
Property Description
INCOME GENERATING! Where else can you make over 13%* annually on your cash investment? HOA is $174.00 per unit which includes: Roof Replacement, Insurance, Water & Sewer, Common Electric, Pool Maintenance, Lawn, Trash/Garbage. Tenant pays Electric. Taxes are about $700 per unit. All units have a pool view, two units on the ground floor and two units on the top floor. Laundry Facility available onsite for your tenants convenience. Centrally located in Merritt Island. Within walking distance to schools & shopping! Minutes to 520/528, about 45 minutes to Orlando and about 10 minutes to the Beach! Put this in your portfolio today! Cash only sale! *at current under market rent rates
Details
Maps
Location, Tax, and Legal
Unit Number: 115, 116, 213, 215
Tax Account: 2420415
Parcel Number: 24-36-26-58-00000.0-0004.15
General County Location: Central
Elementary School: Mila
Middle School: Jefferson
High School: Merritt Island
Tax Annual Amount: 681.53
Tax Year: 2018
Tax Legal Description: COLONIAL ARMS CONDO UNIT 115 COLONIAL ARMS CONDO AS DESC IN ORB 2356 PG 2182 AND ALL AMENDMENTS THERETO.
Directions: Minna Lane west to the end, first building in Colonial Arms on the right. Building with the pool.
General Property Information
Number Of Units Total: 4
Living Area Source: Public Records
Building Area Total: 3100
Lot Size Acres: 0.03
Lot Size Square Feet: 1307
Association YN: No
Garage YN: No
Garage Spaces: 0
Carport YN: No
Carport Spaces: 0
Waterfront YN: No
Water Body Access YN: No
Year Built: 1964
Remarks and Miscellaneous
Public Remarks: INCOME GENERATING!
Where else can you make over 13%* annually on your cash investment?
HOA is $174.00 per unit which includes: Roof Replacement, Insurance, Water & Sewer, Common Electric, Pool Maintenance, Lawn, Trash/Garbage.
Tenant pays Electric. Taxes are about $700 per unit.
All units have a pool view, two units on the ground floor and two units on the top floor. Laundry Facility available onsite for your tenants convenience. Centrally located in Merritt Island. Within walking distance to schools & shopping! Minutes to 520/528, about 45 minutes to Orlando and about 10 minutes to the Beach! Put this in your portfolio today!
Cash only sale!
*at current under market rent rates
Appliances
Electric Range: 1
Refrigerator: 1
Association Amenities
Pool: 1
Construction Materials
Block: 1
Concrete: 1
Flooring
Tile: 1
Listing Terms
Cash: 1
Pool Features
Other: 1
Possession
Close Of Escrow: 1
Income and Expenses
Gross Income: 0
Gross Scheduled Income: 33300
Net Operating Income: 21864
Operating Expense: 11136
Owner Pays
Electricity: 1
Exterior Maintenance: 1
Grounds Care: 1
Insurance: 1
Pool Maintenance: 1
Sewer: 1
Taxes: 1
Trash Collection: 1
Water: 1
Roof
Shingle: 1
Special Listing Conditions
Standard: 1
Utilities
Cable Available: 1
Showing Requirements
Appointment Only: 1
Historical Information
Public Historical Remarks 3: Style-Other - Call Agent: Y, Parking-1 Space Per Unit: Y
Contract Information
Current Price: $184,000
Original List Price: 187700
Sold Price: $184,000
Status: Closed
Listing Contract Date: 2019-04-20
Property Sub Type: Multi Family
Location Tax and Legal
Street Number: 140
Street Name: Minna
Street Suffix: Lane
County: Brevard
State: FL
Postal Code: 32953
MLS Area Major: 251 - Central Merritt Island
Subdivision Name: Colonial Arms Condo
Status Change Information
Major Change Timestamp: 2019-07-28T02:06:43Z
Major Change Type: Status Change
Status Change Timestamp: 2019-07-27
Purchase Contract Date: 2019-07-05
Close Date: 2019-07-26
Close Price: 184000
Property Features
Appliances: Electric Range; Refrigerator
Association Amenities: Pool
Construction Materials: Block; Concrete
Flooring: Tile
Listing Terms: Cash
Owner Pays: Electricity; Exterior Maintenance; Grounds Care; Insurance; Pool Maintenance; Sewer; Taxes; Trash Collection; Water
Pool Features: Other
Possession: Close Of Escrow
Roof: Shingle
Special Listing Conditions: Standard
Utilities: Cable Available
Showing Requirements: Appointment Only
Listing Office: LoKation
Last Updated: May - 22 - 2026
Information is deemed to be reliable, but is not guaranteed.