12-Unit Multifamily with Central
For Sale
$2,195,000
404 HARRISON Avenue, Cape Canaveral, FL 32920
MULTI_FAMILY - CAPE CANAVERAL, FL
Property Size8,143 SF
Lot Size0.29 Acres
Price / SF$269.56
Days on Market538
Property Features for 404 HARRISON Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
24
Bathrooms
12
Full bathrooms
12
Rooms
Bedroom 1, Bedroom 14, Bathroom 9, Bedroom 21, Bedroom 10, Bedroom 12, Bedroom 19, Bathroom 12, Bedroom 20, Bathroom 10, Bedroom 23, Bedroom 17, Bedroom 3, Bedroom 13, Bathroom 8, Bathroom 7, Bedroom 5, Bathroom 5, Bedroom 15, Bedroom 8, Bathroom 3, Bathroom 4, Bathroom 11, Bathroom 6, Bedroom 18, Bedroom 11, Bedroom 4, Bedroom 24, Bedroom 6, Bathroom 1, Bedroom 7, Bedroom 2, Bedroom 9, Bedroom 22, Bathroom 2, Bedroom 16
Interior features
Ceiling Fans(s)
Subdivision
AVON BY SEA
Directions
South on Magnolia Ave then East onto Harrison Ave
Standard status
Active
APN
24 3723-CG-34-12
Size
8,143 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
AVON BY THE SEA LOTS 12,13 BLK 34
Tax Annual Amount
19816
Legal Description
AVON BY THE SEA LOTS 12,13 BLK 34
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1964
Number of units
12
Building materials
Concrete
Roof type
Membrane
Listing Agency:
FLORIDA REALTY INVESTMENTS
(407) 207-2220
Listed By:
Tito Urbano Perez · License #3470017
(407) 907-0350
Added: Feb 7, 2025
Changed: Jul 29
Last Checked: Jul 30 at 4:06PM
MLS# TB8347938
Copyright © 2026 Stellar MLS. 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.
Harrison Apartments is a 12-unit multifamily property offering spacious 2-bedroom, 1-bath layouts in each unit. The building includes central air conditioning for year-round comfort. Operating expenses are structured so tenants cover their own electricity, while the owner is responsible for water. The property sits on a 0.29-acre lot and includes 8,143 square feet of total building area.
Located in Cape Canaveral, the property is approximately two blocks from the ocean and adjacent to Sandpiper Park. It is also conveniently close to Port Canaveral, aligning the asset with the area’s cruise and tourism activity.
Zoned R2, Harrison Apartments presents an income-producing residential opportunity within a beachside community, with predictable utility responsibility split between tenants and the owner.
Located in Cape Canaveral, the property is approximately two blocks from the ocean and adjacent to Sandpiper Park. It is also conveniently close to Port Canaveral, aligning the asset with the area’s cruise and tourism activity.
Zoned R2, Harrison Apartments presents an income-producing residential opportunity within a beachside community, with predictable utility responsibility split between tenants and the owner.
Key Highlights
- 12‑unit multifamily property with each unit featuring a 2‑bedroom, 1‑bath layout
- Central air conditioning and central heating in each unit; includes ceiling fans
- Concrete construction with a membrane roof; built in 1964
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $161.2k | $19.80 |
| − Vacancy | −$9.7k | −$1.19 |
| EGI | $151.6k | $18.61 |
| − OpEx | −$68.2k | −$8.38 |
| NOI | $83.4k | $10.24 |
8,143 SF · lease $19.80/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.19M
$1.04M – $1.39M
NOI $83,357 @ 7.0% cap · market cap 3.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.15M
$1.88M – $2.51M
NOI $150,385 @ 7.0% cap · market cap 6.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
713
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Twelve 2-bedroom/1-bath units with central air; tenants pay electricity and owner pays water.
Where is this apartment building located?
The property is located at 404 HARRISON Avenue Cape Canaveral, FL.
What is the asking price?
The asking price for this property is $2,195,000.
What are key features of this property?
This property features: 12‑unit multifamily property with each unit featuring a 2‑bedroom, 1‑bath layout; Central air conditioning and central heating in each unit; includes ceiling fans; Concrete construction with a membrane roof; built in 1964
