Two-Unit Duplex Near
For Sale
$610,000
148 OCEAN VIEW LANE, Melbourne, FL 32903
Income-producing duplex with two leased residences and a recently replaced roof.
Property Size1,768 SF
Price / SF$345.02
Days on Market58
Property Features for 148 OCEAN VIEW LANE
General Information
Standard status
Active
Size
1,768 SF
Property subtype
Half Duplex
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1979
Buildings
1
Tenancy
Multi
Listing Agency:
SUCCESS PROPERTY MANAGEMENT IN
(352) 610-4369
Listed By:
Jill Lancon · License #3290429
(352) 817-8422
Source:
Dennisrealty
Added: Sep 9
Changed: Nov 3
Last Checked: Nov 4 at 4:27PM
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 SUCCESS PROPERTY MANAGEMENT IN
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-unit duplex contains two residences, each configured with two bedrooms and one bathroom. The property was built in 1979 and has a total size of 1,768 square feet, with both units currently rented to monthly-paying tenants.
Located one block from the beach in Melbourne, the property offers a compact residential income configuration with an updated roof installed in 2018. Tenant privacy is requested during visits.
Located one block from the beach in Melbourne, the property offers a compact residential income configuration with an updated roof installed in 2018. Tenant privacy is requested during visits.
Key Highlights
- Two‑unit duplex with 1,768 square feet
- Each unit offers 2 bedrooms and 1 bathroom
- Both units are currently rented to monthly‑paying tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,135
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$402,700
$402.7K
Cap Rate 7%
$287,643
$287.6K
Cap Rate 9%
$223,722
$223.7K
Market Conditions
NOI Build-Up for 1,768 SF
Gross rent
$30.8K $17.40/SF
− Vacancy
−$2.0K −$1.13/SF
EGI
$28.8K $16.27/SF
− OpEx
−$8.6K −$4.88/SF
NOI
$20.1K $11.39/SF
Area
Brevard County, FL
Vacancy
6.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$402,700
Cap Rate 7%
$287,643
Cap Rate 9%
$223,722
Alternative Uses
Best Use
Multifamily LT 5
$287.6K
$251.7K – $335.6K
NOI $20,135 @ 7.0% cap · market cap 3.30%
Second Best
Apartment 5plus
$258.5K
$226.2K – $301.6K
NOI $18,098 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office A
$466.4K
$408.1K – $544.2K
NOI $32,651 @ 7.0% cap · market cap 5.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
183
Businesses Nearby
Explore this area
Business Placement
Demographics for 32903, FL
13,880
Population
7,469
Households
1.9
Avg Household Size
52
Median Age
51%
College-Educated
97%
High-School Grad
3.6 sq mi
ZIP Area
3,856
Density / Sq Mi
$101,549
Median Household Income
$55,718
Median Earnings
$1,700
Median Rent
$495,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Income-producing duplex with two leased residences and a recently replaced roof.
Where is this duplex located?
The property is located at 148 OCEAN VIEW LANE Melbourne, FL.
What is the asking price?
The asking price for this property is $610,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,768 square feet; Each unit offers 2 bedrooms and 1 bathroom; Both units are currently rented to monthly‑paying tenants
