6-Unit Condo
For Sale
$999,000
1656 Sunny Brook Lane NE, Palm Bay, FL 32905
Residential Income, Palm Bay, FL
Property Size5,484 SF
Lot Size0.06 Acres
Price / SF$182.17
Days on Market157
Property Features for 1656 Sunny Brook Lane NE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi Family
Bedrooms
18
Bathrooms
12
Full bathrooms
12
Rooms
Bedroom 16, Bedroom 6, Bathroom 7, Bathroom 9, Bedroom 12, Bathroom 8, Bathroom 11, Bedroom 5, Bedroom 13, Bedroom 8, Bathroom 4, Bedroom 9, Bedroom 15, Bathroom 1, Bathroom 10, Bedroom 4, Bedroom 14, Bathroom 3, Bedroom 7, Bedroom 1, Bedroom 2, Bedroom 18, Bedroom 10, Bathroom 5, Bathroom 2, Bathroom 6, Bedroom 3, Bedroom 17, Bedroom 11, Bathroom 12
Parking
12
Parking features
Assigned
Pool private
1
Appliances
Dishwasher, Electric Range, Electric Water Heater, Refrigerator, Washer/Dryer Stacked
Subdivision
Country Gardens II Condo
Elementary school
Rivieria
Middle school
Stone
High school
Palm Bay
Directions
From Babcock St turn onto Sunny Brook Lane Make first left into Counrty Gardens , Block l will be on your left handside .
Standard status
Active
Size
5,484 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
COUNTRY GARDENS II CONDO UNIT L-101 COUNTRY GARDENS II CONDO AS DESC IN ORB 2516 PG 816 AND ALL AMENDMENTS THERETO. Addl units L103,104,201,203,204
Tax Annual Amount
2257
HOA Fee
$367 Monthly
Legal Description
COUNTRY GARDENS II CONDO UNIT L-101 COUNTRY GARDENS II CONDO AS DESC IN ORB 2516 PG 816 AND ALL AMENDMENTS THERETO. Addl units L103,104,201,203,204
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1984
Floors in Building
2
Number of units
6
Flooring type
Tile
Building materials
Block, Concrete, Stucco
Roof type
Shingle
Listing Agency:
Dale Sorensen Real Estate Inc.
(321) 723-9990
Listed By:
Deborah Ann Harris-Caldwell
(321) 427-4497
Added: May 11
Changed: Oct 14
Last Checked: Oct 14 at 4:06PM
MLS# 1076991
Copyright © 2026 Space Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily portfolio comprises six leased condos, each configured with three bedrooms and two bathrooms, for a combined 5,484 square feet. Every residence has an interior laundry room with a stacked washer and dryer. Appliances have been replaced throughout, and flooring updates include luxury vinyl plank in five condos and porcelain tile in the sixth, alongside new bathroom tile. Five air-conditioning systems were replaced from 2020 to 2022; the remaining system was inspected and is operating well.
The property received a roof replacement in 2025, with exterior painting scheduled for May 2026. Association services cover water, sewer, master insurance, cable, internet, landscaping, and pool upkeep. Unit 201 also received appliances and interior paint in May 2026.
The property received a roof replacement in 2025, with exterior painting scheduled for May 2026. Association services cover water, sewer, master insurance, cable, internet, landscaping, and pool upkeep. Unit 201 also received appliances and interior paint in May 2026.
Key Highlights
- Six leased condos, each with 3 bedrooms and 2 bathrooms
- Combined building area of 5,484 square feet
- Stacked washer and dryer in each condo
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,158
Cap Rate
5.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,143,160
$1.1M
Cap Rate 7%
$816,543
$816.5K
Cap Rate 9%
$635,089
$635.1K
Market Conditions
NOI Build-Up for 5,484 SF
Gross rent
$110.6K $20.16/SF
− Vacancy
−$6.6K −$1.21/SF
EGI
$103.9K $18.95/SF
− OpEx
−$46.8K −$8.53/SF
NOI
$57.2K $10.42/SF
Area
Palm Bay, FL
Vacancy
6.00%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,143,160
Cap Rate 7%
$816,543
Cap Rate 9%
$635,089
Alternative Uses
Best Use
Apartment 5plus
$816.5K
$714.5K – $952.6K
NOI $57,158 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,279 @ 7.0% cap · market cap 10.14%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
537
Businesses Nearby
Explore this area
Business Placement
Demographics for 32905, FL
26,064
Population
12,635
Households
2.1
Avg Household Size
45
Median Age
27%
College-Educated
91%
High-School Grad
9.7 sq mi
ZIP Area
2,687
Density / Sq Mi
$56,671
Median Household Income
$31,688
Median Earnings
$1,361
Median Rent
$206,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Six occupied residences combine in-unit laundry with recent appliance, flooring, and mechanical updates.
Where is this multifamily property located?
The property is located at 1656 Sunny Brook Lane NE Palm Bay, FL.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Six leased condos, each with 3 bedrooms and 2 bathrooms; Combined building area of 5,484 square feet; Stacked washer and dryer in each condo
