89 Northwest Irwin Avenue

Melbourne, FL 32904

$1,955,000
Price
—
Beds
7,728 Sq. Ft.
$253 / Sq. Ft.
7,728
Sq. Ft.
$253
per Sq. Ft.
3 buildings
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Description

This exceptional investment opportunity includes 89, 87, and 85 NW Irwin Avenue--a fully renovated, fully occupied complex bringing in $16,000 monthly in rental income, with the potential to increase rents to $18,000 monthly. Listed at $1,955,000, the property currently yields an annual income of $192,000, which equates to approximately 9.82% of the listing price. With increased rents, this could rise to $216,000 annually, or about 11.05%. This complex is comprised of: 89 NW Irwin: A 2-story, 8-unit...This exceptional investment opportunity includes 89, 87, and 85 NW Irwin Avenue--a fully renovated, fully occupied complex bringing in $16,000 monthly in rental income, with the potential to increase rents to $18,000 monthly. Listed at $1,955,000, the property currently yields an annual income of $192,000, which equates to approximately 9.82% of the listing price. With increased rents, this could rise to $216,000 annually, or about 11.05%. This complex is comprised of: 89 NW Irwin: A 2-story, 8-unit apartment building, each unit with 1 bedroom and 1 bathroom. 87 NW Irwin: A single-family home with 3 bedrooms and 2 bathrooms. 85 NW Irwin: A duplex, each unit featuring 2 bedrooms and 1 bathroom. With solid current returns and room for growth, this is an ideal addition to any investment portfolio.
  1. Listed by Guy Newman • Relentless Real Estate Co.

Property Details for 89 Northwest Irwin Avenue

Directions
From 192, turn North on to NW Irwin Avenue. Property will be on the left.
LISTING UPDATED: 11/03/2024 08:13 PM

Property Details for 89 Northwest Irwin Avenue

StatusActive
MLS #1028572
Days on Market4
Taxes$10,134 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Multi Family
Year Built1973
Lot Size0.58 AC / 25,264 SF
CountyBrevard County

Building Information for 89 Northwest Irwin Avenue

Stories-Residences11Year Built1973Building Size-Lot Size0.58 AC / 25,264 SF

Property Information for 89 Northwest Irwin Avenue

Summary
Location and General Information
  • City: Melbourne
  • State/Province: FL
  • County: Brevard
  • Geo Lat: 28.080429
  • Geo Lon: -80.641567
  • Absolute Longitude: 80.641567
  • Schools: Elementary School: University Park
  • Schools: Middle School: Stone
  • Schools: High School: Melbourne
  • General County Loc: South
Taxes and HOA Information
  • Taxes: $10,134.00
  • Tax Year: 2024
  • Tax Acct: 2819901
  • Tax ID: 28-37-05-02-0000c.0-0006.00
Parking
  • Parking Spaces: 18.0
  • Parking: Parking Lot
  • Open Parking Spaces: 18.0
Property
Lot Information
  • SqFt - Living: 7728.0
  • Lot SqFt: 25265.0
  • Year Built: 1973
  • Picture Count: 36
  • Lot Description: Few Trees
  • Acreage: 0.58
  • Furnishings: Unfurnished
  • Road Surface: Asphalt
  • Current Adjacent Use: Investment, Multi-Family
Property and Assessments
  • Construction: Brick, Stucco
  • Docs on File: 0
  • Res Sub-Type: LLC
  • Legal/Misc: 55+ Community: No
  • MLS Approved: Y
  • Type of Service: Full Service
  • Prop Type: B
  • Sub Type: Multi Family
  • To Be Constructed: No
  • Security: Fire Alarm,Smoke Detector(s)
Utilities
  • Utilities: Sewer or Septic: Public Sewer
  • Utilities: Water Type: Public
  • Utilities: Cable Available, Electricity Connected, Sewer Connected, Water Available
Owner Name
  • Owner Name: Van Property Group Llc
Interior and Exterior Features
Exterior Features
  • Roof: Membrane, Shingle
  • Total Floors in Bldg: 2
  • # of Units: 11
  • Buildings: 3
  • Exterior Features: Impact Windows, Storm Shutters
  • Pool Features: None
  • Flooring: Tile
Interior Features
  • Cooling: Central Air
  • Heat: Central
  • Equipment/Appliances: Electric Range, Refrigerator
Multi Family
Income & Expenses
  • Income & Expenses: Annual Gross Income: $192,000.00
  • Income & Expenses: Annual Oper Expenses: $33,321.00
  • Income & Expenses: Annual Net Income: $158,679.00
Multi-Family Information
  • Unit 1 Details: Actual Rent: 1400.0
  • Unit 1 Details: Beds Total: 1.0
  • Unit 1 Details: Furnished: Unfurnished
  • Unit 1 Details: Unit ID: 1
  • Unit 1 Details: Unit Remarks: 1 Bed 1 Bath
  • Unit 1 Details: Unit SqFt: 700.0
  • Unit 2 Details: Actual Rent: 1400.0
  • Unit 2 Details: Beds Total: 1.0
  • Unit 2 Details: Furnished: Unfurnished
  • Unit 2 Details: Unit ID: 2
  • Unit 2 Details: Unit Remarks: 1 Bed 1 Bath
  • Unit 2 Details: Unit SqFt: 700.0
  • Unit 3 Details: Actual Rent: 1400.0
  • Unit 3 Details: Beds Total: 1.0
  • Unit 3 Details: Furnished: Unfurnished
  • Unit 3 Details: Unit ID: 3
  • Unit 3 Details: Unit Remarks: 1 Bed 1 Bath
  • Unit 3 Details: Unit SqFt: 700.0
  • Unit 4 Details: Actual Rent: 1400.0
  • Unit 4 Details: Beds Total: 1.0
  • Unit 4 Details: Furnished: Unfurnished
  • Unit 4 Details: Unit ID: 4
  • Unit 4 Details: Unit Remarks: 1 Bed 1 Bath
  • Unit 4 Details: Unit SqFt: 700.0
  • Unit 5 Details: Actual Rent: 1400.0
  • Unit 5 Details: Beds Total: 1.0
  • Unit 5 Details: Furnished: Unfurnished
  • Unit 5 Details: Unit ID: 5
  • Unit 5 Details: Unit Remarks: 1 Bed 1 Bath
  • Unit 5 Details: Unit SqFt: 700.0
  • Unit 6 Details: Actual Rent: 1400.0
  • Unit 6 Details: Beds Total: 1.0
  • Unit 6 Details: Furnished: Unfurnished
  • Unit 6 Details: Unit ID: 6
  • Unit 6 Details: Unit Remarks: 1 Bed 1 Bath
  • Unit 6 Details: Unit SqFt: 700.0
  • Unit 7 Details: Actual Rent: 1400.0
  • Unit 7 Details: Beds Total: 1.0
  • Unit 7 Details: Furnished: Unfurnished
  • Unit 7 Details: Unit ID: 7
  • Unit 7 Details: Unit Remarks: 1 Bed 1 Bath
  • Unit 7 Details: Unit SqFt: 700.0
  • Unit 8 Details: Actual Rent: 1400.0
  • Unit 8 Details: Beds Total: 1.0
  • Unit 8 Details: Furnished: Unfurnished
  • Unit 8 Details: Unit ID: 8
  • Unit 8 Details: Unit Remarks: 1 Bed 1 Bath
  • Unit 8 Details: Unit SqFt: 700.0
  • Selling Terms Code: Cash, Private Financing Available
Agent
Sale and Listing
  • Cumulative DOM: 2
  • Days On Market: 2
  • Possession: Subject To Tenant Rights
Showing and Remarks
  • Showing: 24 Hour Notice, Appointment Only, Call Listing Agent
  • Appointment Phone: 321-285-2855

Property History for 89 Northwest Irwin Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 89 Northwest Irwin Avenue

Taxable ValueLand$34,650Additions$504,110Total$538,760
Tax Record2023$9,155 ($763 / month)
Home Facts
Total Finished SqFt5,184 SqFtAbove Grade Finished SqFt5,184 SqFtStories2Lot Size25,265 SqFtStyleMulti-Family Res (5+ Units)Year Built1973Year Renovated1995ZoningR2CountyBREVARDAPN28-37-05-02-0000C.0-0006.00

Schools near 89 Northwest Irwin Avenue

This home is within Brevard Public Schools.
Rating
School
Type
Grades
Distance
University Park Elementary School
Public - PK to 6
Stone Magnet Middle School
Public - 7 to 8
Melbourne Senior High School
Public - 9 to 12
W. Melbourne Elementary School For Science
Public - PK to 6
Rating
School
Distance
University Park Elementary School
PublicPK to 6

Stone Magnet Middle School
Public7 to 8

Melbourne Senior High School
Public9 to 12

W. Melbourne Elementary School For Science
PublicPK to 6

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 89 Northwest Irwin Avenue, Melbourne, FL 32904

89 Northwest Irwin Avenue is a multi-family home for sale in Melbourne, FL 32904. This property was listed for sale on November 1, 2024 by Relentless Real Estate Co., it's currently listed at $1,955,000. It has been on the market for a total of 4 days and was last sold on April 7, 2021. This listing's school district is Brevard Public Schools. Nearby schools include University Park Elementary School, Stone Magnet Middle School and Melbourne Senior High School. 89 Northwest Irwin Avenue is a 0-bed, 0-bath, 7,728 sqft multi-family home built in 1973.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Relentless Real Estate Co., Guy Newman

The information being provided by MFRMLS and Daytona Multiple Listing Service is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumer may be interested in purchasing. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of MFRMLS or Daytona Multiple Listing Service. Real estate listings held by brokerage firms other than this site owner are marked with the IDX/MLS logo. Information deemed reliable but is not guaranteed accurate by MFRMLS or Daytona Multiple Listing Service. Last updated: 11/03/2024 08:13 PM