4-Unit Condominium
For Sale
$900,000
238 CHANDLER STREET #101, Cape Canaveral, FL 32920
Individually parceled residences feature updated interiors and a short-term rental option with a 30-day minimum stay.
Property Size4,440 SF
Price / SF$202.70
Days on Market13
Property Features for 238 CHANDLER STREET #101
General Information
Standard status
Active
Size
4,440 SF
Property subtype
Quadruplex
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Additional Details
HOA Fee
$300
Building Details
Year Built
1981
Listing Agency:
FLORIDA REALTY INVESTMENTS
(407) 207-2220
Listed By:
Tito Urbano Perez · License #3470017
(407) 907-0350
Source:
Dennisrealty
Added: Oct 22
Changed: Nov 1
Last Checked: Nov 1 at 5:54AM
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 FLORIDA REALTY INVESTMENTS
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Investment Insights
Based on property information with market context.
This four-unit residential portfolio comprises two-bedroom, two-bathroom condominiums in a seven-unit community. Each residence measures 1,110 square feet, for 4,440 square feet across the portfolio. Kitchens, bathrooms, windows, sliding glass doors, A/C systems, and water heaters have been updated; Units 102 and 202 also have additional interior improvements. The condos were built in 1981 and are separately parceled, allowing individual sale or acquisition.
The property is in Cape Canaveral, minutes from Cocoa Beach and Port Canaveral. Short-term rentals are permitted with a 30-day minimum stay. Tenants pay their own utilities.
The property is in Cape Canaveral, minutes from Cocoa Beach and Port Canaveral. Short-term rentals are permitted with a 30-day minimum stay. Tenants pay their own utilities.
Key Highlights
- Four condominiums totaling 4,440 square feet; each unit is 1,110 square feet
- Each residence has 2 bedrooms and 2 bathrooms
- Separately parceled units may be purchased or sold individually
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,451
Cap Rate
5.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$909,020
$909.0K
Cap Rate 7%
$649,300
$649.3K
Cap Rate 9%
$505,011
$505.0K
Market Conditions
NOI Build-Up for 4,440 SF
Gross rent
$87.9K $19.80/SF
− Vacancy
−$5.3K −$1.19/SF
EGI
$82.6K $18.61/SF
− OpEx
−$37.2K −$8.38/SF
NOI
$45.5K $10.24/SF
Area
Brevard County, FL
Vacancy
6.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$909,020
Cap Rate 7%
$649,300
Cap Rate 9%
$505,011
Alternative Uses
Best Use
Apartment 5plus
$649.3K
$568.1K – $757.5K
NOI $45,451 @ 7.0% cap · market cap 5.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.17M
$1.02M – $1.37M
NOI $81,998 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
570
Businesses Nearby
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Business Placement
Demographics for 32920, FL
9,984
Population
8,872
Households
1.1
Avg Household Size
58
Median Age
39%
College-Educated
96%
High-School Grad
24.8 sq mi
ZIP Area
403
Density / Sq Mi
$70,734
Median Household Income
$41,264
Median Earnings
$1,161
Median Rent
$323,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Individually parceled residences feature updated interiors and a short-term rental option with a 30-day minimum stay.
Where is this residential income property located?
The property is located at 238 CHANDLER STREET #101 Cape Canaveral, FL.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Four condominiums totaling 4,440 square feet; each unit is 1,110 square feet; Each residence has 2 bedrooms and 2 bathrooms; Separately parceled units may be purchased or sold individually
