6-Unit Apartment Building
For Sale
$999,000
1656 Sunny Brook Ln, Palm Bay, FL 32905
Fully leased condos feature updated interiors, private laundry rooms, and extensive association-maintained amenities.
Property Size5,484 SF
Price / SF$182.17
Days on Market173
Property Features for 1656 Sunny Brook Ln
General Information
Standard status
Active
Size
5,484 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
6 x 3BR/2BA
Multifamily Units
6
Amenities
pool
in-unit laundry
Building Details
Year Built
1984
Listing Agency:
Dale Sorensen Real Estate Inc.
Listed By:
Deborah Ann Harris-Caldwell
(321) 427-4497
Source:
Viewfloridabeachhouses
Added: Apr 27
Changed: Oct 1
Last Checked: Oct 16 at 9:12AM
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 Dale Sorensen Real Estate Inc.
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Investment Insights
Based on property information with market context.
This apartment portfolio contains 6 fully rented, 3-bedroom, 2-bath condos totaling 5,484 square feet. Each unit includes an interior laundry room with a stacked washer and dryer. Improvements include appliance replacements throughout, new bathroom tile, luxury vinyl plank flooring in five units, and porcelain tile in the sixth. Five A/C systems were replaced between 2020 and 2022, while the remaining system has been inspected and is functioning well.
The association provides water, sewer, master insurance, cable, internet, grounds maintenance, and pool maintenance. A new roof was completed in 2025, with exterior painting scheduled for May 2026. Unit 201 also received new appliances and fresh interior paint in May 2026. The property is located at 1656 Sunny Brook Lane, Palm Bay, FL 32905, with unit effective dates ranging from 2022-2023.
The association provides water, sewer, master insurance, cable, internet, grounds maintenance, and pool maintenance. A new roof was completed in 2025, with exterior painting scheduled for May 2026. Unit 201 also received new appliances and fresh interior paint in May 2026. The property is located at 1656 Sunny Brook Lane, Palm Bay, FL 32905, with unit effective dates ranging from 2022-2023.
Key Highlights
- 6 fully rented 3‑bedroom, 2‑bath condos totaling 5,484 SF
- Interior laundry rooms with stacked washer/dryers in every unit
- Appliances replaced throughout; updated tile and flooring across all 6 units
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
Property Analytics
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
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully leased condos feature updated interiors, private laundry rooms, and extensive association-maintained amenities.
Where is this apartment building located?
The property is located at 1656 Sunny Brook Ln 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: 6 fully rented 3‑bedroom, 2‑bath condos totaling 5,484 SF; Interior laundry rooms with stacked washer/dryers in every unit; Appliances replaced throughout; updated tile and flooring across all 6 units
