$895,000
Melbourne Beach, FL 32951
MLS# 1075526
1 / 25
Open House (08/08/2026 - 12:00 pm - 2:00 pm)
Property Description
Located just 1.5 blocks from the ocean and only 3 blocks from Ocean Avenue, this rare .59-acre property offers exceptional flexibility and investment potential. Keep it as a proven income-producing property, live in the main home while renting the cottage, or build your dream custom estate on one of the area's hard-to-find oversized lots. The property features a 3-bedroom, 2-bath main home (approx. 1,552 SF) plus a separate 1-bedroom cottage. Major updates to the Main Home include a 2019 roof with peel-and-stick underlayment and Owens Corning Duration shingles, 2024 A/C and ductwork, partial impact windows, 2022 exterior sewer line replacement, remodeled guest bath (2021), and primary bath (2008). The Cottage features updated sewer and water lines (2023), 2008 cabinets, appliances, and ceramic flooring, making this an outstanding opportunity for homeowners and investors alike. This home is Being sold as-is. Vacant and easy to show.
Details
Maps
Documents
Location, Tax, and Legal
Tax Account: 2847250
Parcel Number: 28-38-06-78-00000.0-0048.00
General County Location: South
Elementary School: Gemini
Middle School: Hoover
High School: Melbourne
Tax Annual Amount: 13256.3
Tax Year: 2025
Tax Legal Description: SUNSET BAY SUBD LOTS 48,49,50
Directions: From US Highway 1. Head west on US-192/E New Haven Ave, turn left onto Oak St, and continue to 702 Oak St which will be on your right at the corner of Sunset & Oak.
General Property Information
Number Of Buildings: 2
Bathrooms Half: 0
Living Area: 2212
Living Area Source: Public Records
Lot Size Acres: 0.59
Lot Size Square Feet: 25700
Association YN: No
New Construction YN: No
Garage YN: Yes
Garage Spaces: 2
Carport YN: No
Waterfront YN: No
Water Body Access YN: Yes
List Price/SqFt: 404.61
Year Built: 1950
Remarks and Miscellaneous
Public Remarks: Located just 1.5 blocks from the ocean and only 3 blocks from Ocean Avenue, this rare .59-acre property offers exceptional flexibility and investment potential. Keep it as a proven income-producing property, live in the main home while renting the cottage, or build your dream custom estate on one of the area's hard-to-find oversized lots. The property features a 3-bedroom, 2-bath main home (approx. 1,552 SF) plus a separate 1-bedroom cottage. Major updates to the Main Home include a 2019 roof with peel-and-stick underlayment and Owens Corning Duration shingles, 2024 A/C and ductwork, partial impact windows, 2022 exterior sewer line replacement, remodeled guest bath (2021), and primary bath (2008). The Cottage features updated sewer and water lines (2023), 2008 cabinets, appliances, and ceramic flooring, making this an outstanding opportunity for homeowners and investors alike. This home is Being sold as-is. Vacant and easy to show.
Appliances
Dishwasher: 1
Electric Cooktop: 1
Electric Oven: 1
Refrigerator: 1
Association Amenities
Beach Access: 1
Construction Materials
Concrete: 1
Stucco: 1
Cooling
Central Air: 1
Current Use
Investment: 1
Multi-Family: 1
Residential: 1
DPR Eligible
DPR Eligible: No
Fireplace Features
Fireplaces Total: 1
Flooring
Tile: 1
Vinyl: 1
Heating
Electric: 1
Levels
One: 1
Listing Terms
Cash: 1
Conventional: 1
Lot Features
Corner Lot: 1
Parking Features
Garage: 1
Possession
Close Of Escrow: 1
Subject To Tenant Rights: 1
Water Body Access Type
Public Accessible: 1
Owner Pays
Grounds Care: 1
Roof
Shingle: 1
Sewer
Public Sewer: 1
Special Listing Conditions
Standard: 1
Utilities
Electricity Available: 1
Sewer Available: 1
Water Available: 1
Water Source
Public: 1
Showing Requirements
24 Hour Notice: 1
Showing Service: 1
Showing Considerations
Occupied: 1
Contract Information
Current Price: $895,000
Original List Price: 920000
List Price: $895,000
Status: Active
Listing Contract Date: 2026-04-22
Property Sub Type: Multi Family
Location Tax and Legal
Street Number: 702
Street Name: Oak
Street Suffix: Street
County: Brevard
State: FL
Postal Code: 32951
MLS Area Major: 384-Indialantic/Melbourne Beach
Subdivision Name: Sunset Bay Subd
Status Change Information
Major Change Timestamp: 2026-07-08T19:19:32Z
Major Change Type: Price Reduced
Price Change Timestamp: 2026-07-08T19:19:32Z
Status Change Timestamp: 2026-04-23
Property Features
Appliances: Dishwasher; Electric Cooktop; Electric Oven; Refrigerator
Association Amenities: Beach Access
Construction Materials: Concrete; Stucco
Cooling: Central Air
Current Use: Investment; Multi-Family; Residential
Flooring: Tile; Vinyl
Heating: Electric
Levels: One
Listing Terms: Cash; Conventional
Lot Features: Corner Lot
Owner Pays: Grounds Care
Parking Features: Garage
Possession: Close Of Escrow; Subject To Tenant Rights
Roof: Shingle
Sewer: Public Sewer
Special Listing Conditions: Standard
Utilities: Electricity Available; Sewer Available; Water Available
Water Body Access Type: Public Accessible
Water Source: Public
Showing Considerations: Occupied
Showing Requirements: 24 Hour Notice; Showing Service
Flood Disclosure 
Listing Office: Golden Group Realty LLC
Last Updated: August - 07 - 2026
Information is deemed to be reliable, but is not guaranteed.