$375,000
Cape Canaveral, FL 32920
MLS# 834314
Status: Closed
4906 sqft
1 / 31
Property 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
Maps
Location, Tax, and Legal
Tax Account: 2434102
Parcel Number: 24-37-23-Cg-00043.0-0015.01
General County Location: Central
Elementary School: Cape View
Middle School: Cocoa Beach
High School: Cocoa Beach
Tax Annual Amount: 5196.4
Tax Year: 2018
Tax Legal Description: AVON BY THE SEA LOT 15 EX N 50 FT & LOT 16 EX N 50 FT BLK 43
Directions: From Hwy A1A, go 3 blocks south on Tyler Avenue, and make a right on Magnolia. Property is on the corner of Magnolia and Polk.
General Property Information
Number Of Units Total: 8
Living Area: 4906
Living Area Source: Public Records
Building Area Total: 4906
Lot Size Acres: 0.16
Lot Size Square Feet: 6970
Association YN: No
Garage YN: No
Garage Spaces: 0
Carport YN: No
Carport Spaces: 0
Waterfront YN: No
Parking Total: 14
Water Body Access YN: No
Pool Private YN: No
List Price/SqFt: 76.44
Sold Price/SqFt: 76.44
Year Built: 1962
Remarks and Miscellaneous
Public Remarks: 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.
Appliances
Other: 1
Construction Materials
Block: 1
Concrete: 1
Stucco: 1
Flooring
Other: 1
Listing Terms
Cash: 1
Conventional: 1
Pool Features
None: 1
Income and Expenses
Gross Income: 0
Gross Scheduled Income: 0
Net Operating Income: 0
Operating Expense: 0
Owner Pays
Other: 1
Road Surface Type
Paved: 1
Roof
Membrane: 1
Shingle: 1
Special Listing Conditions
Standard: 1
Utilities
Electricity Connected: 1
Sewer Connected: 1
Water Available: 1
Showing Requirements
Call Listing Office: 1
Historical Information
Public Historical Remarks 3: Style-Other - Call Agent: Y, Number of Buildings: 2 Buildings
Contract Information
Current Price: $375,000
Original List Price: 399000
Sold Price: $375,000
Status: Closed
Listing Contract Date: 2019-01-16
Property Sub Type: Multi Family
Location Tax and Legal
Street Number: 7521
Street Name: Magnolia
Street Suffix: Avenue
County: Brevard
State: FL
Postal Code: 32920
MLS Area Major: 271 - Cape Canaveral
Subdivision Name: Avon By The Sea
Status Change Information
Major Change Timestamp: 2023-11-11T03:44:59Z
Major Change Type: Price Reduced
Price Change Timestamp: 2019-04-02T13:48:58Z
Status Change Timestamp: 2019-04-02
Purchase Contract Date: 2019-02-19
Close Date: 2019-03-27
Close Price: 375000
Property Features
Appliances: Other
Construction Materials: Block; Concrete; Stucco
Flooring: Other
Listing Terms: Cash; Conventional
Owner Pays: Other
Pool Features: None
Road Surface Type: Paved
Roof: Membrane; Shingle
Special Listing Conditions: Standard
Utilities: Electricity Connected; Sewer Connected; Water Available
Showing Requirements: Call Listing Office
Listing Office: Housing Market LLC
Last Updated: May - 10 - 2026
Information is deemed to be reliable, but is not guaranteed.