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150 & 220 E University Blvd Melbourne, FL 32901

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For Sale
$30,000,000

Value-add property near Florida Tech with significant capital improvements.

Type:Multifamily
Added:
Apr 1, 2026
Days on Market:
22
Last Refresh:
Apr 1 at 11:52 am

Property Features for 150 & 220 E University Blvd

General Information

Standard status
Active
Property subtype
Multifamily

Building Details

Year Built
1983

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Listing Contact
Zach Ames

Listing agent Zach Ames License #FL #SL3254509

Listing office

Listing date Apr 1, 2026

Source Franklinst

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Zach Ames


Overview

Apartment Investment Near Florida Tech

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.
Location Intelligence

Current Use by Public Records

Van Sickle Kristi ... Physician Gleason Performing Arts ... Theater & Performing Art Venue Dr. Mylissa Fraser Physician College of Science School Geospace Physics Laboratory University

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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  • Local Demand
City
Melbourne
County
Brevard
State
Florida
Longitude
-80.6187097
Latitude
28.0647555

FAQs

What type of property is this?
Apartment building - Value-add property near Florida Tech with significant capital improvements.
Where is this apartment building located?
The property is located at 150 & 220 E University Blvd Melbourne, FL.
What is the asking price?
The asking price for this property is $30,000,000.
What are key features of this property?
This property features: Prime location adjacent to Florida Tech University and minutes from downtown Melbourne.; Nearly $4.2 million in recent capital improvements minimizes immediate expenditure needs.; Expansive amenity package including **two resort‑style pools, cabana beds, summer kitchen, and game area.**
More about this property
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