150 & 220 E University Blvd Melbourne, FL 32901

This investment opportunity is located adjacent to Florida Tech University and minutes from historic downtown Melbourne. The property has had nearly $4.2 million recently invested in capital improvements. The expansive amenity package includes two resort-style swimming pools with brick paver sun decks, poolside cabana beds and hammocks, a summer kitchen, a picnic area, an outdoor game area with ping pong and corn hole, and on-site laundry facilities. There is the ability to upgrade classic and partially upgraded units and further enhance fully upgraded units to obtain additional rent premiums. Some units have washer/dryer connections, with the ability to retrofit remaining units with connections and/or appliances for additional upside. The property features a diverse mix of one, two, and three-bedroom units with modern, functional floorplan layouts. It is surrounded by major employers, including Northrop Grumman (3,000 employees), Patrick Air Force Base (10,000 Employees), Kennedy Space Center (10,000 Employees), Orlando-Melbourne International Airport (6,000 Employees), and Health First Medical Group (500+ Employees). The property is located 0.3 miles from FL Institute of Technology University, which annually enrolls over 9,500 students & staff and is being offered free and clear of debt encumbrances.