Apartment Investment Near Florida
150 & 220 E University Blvd Melbourne, FL 32901
150 & 220 E University Blvd, Melbourne, FL, 32901
$30,000,000
For Sale
$30,000,000
Value-add property near Florida Tech with significant capital improvements.
Days on Market113
Property Features for 150 & 220 E University Blvd
General Information
- Standard status
- Active
- Property subtype
- Multifamily
Building Details
- Year Built
- 1983
Listing agency
(813) 288-6676
Listed by
Zach Ames · License #FL #SL3254509
Source
Franklinst
Added: Apr 1 Updated: Jul 10 at 1:15PM Checked: Jul 10 at 1:15PM
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
Investment Insights
Based on property information with market context.
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.
Key Highlights
- 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.
Property Analytics
Property Profile
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
Academic Department
Geospace Physics Laboratory
University
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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.**
