Remodeled Quadplex with Private
For Sale
$1,350,000
Pending
5001 Malabar Boulevard, Melbourne Beach, FL 32951
MULTI_FAMILY - Melbourne Beach, FL
Property Size3,722 SF
Lot Size0.49 Acres
Days on Market21
Property Features for 5001 Malabar Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 2, Bedroom 6, Bedroom 5, Bathroom 4, Bedroom 7, Bedroom 3, Bathroom 3, Bathroom 5, Bedroom 8, Bathroom 6, Bathroom 7, Bathroom 8, Bathroom 1
Parking features
Garage
Fencing
Fenced
Appliances
Dishwasher, Dryer, Electric Range, Electric Water Heater, Microwave, Refrigerator, Washer
Subdivision
Beach Townhouses
Elementary school
Gemini
Middle school
Hoover
High school
Melbourne
Directions
From A1A head south past the Publix Plaza. Turn Right onto Spoonbill, make your first Left onto Malabar- property is on Left.
Standard status
Pending
APN
29-38-03-75-00000.0-0001.00
Size
3,722 SF
Lot size
0.49 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BEACH TOWNHOUSES LOTS 1 THUR 4 AND TRACT A
Tax Annual Amount
12805
Legal Description
BEACH TOWNHOUSES LOTS 1 THUR 4 AND TRACT A
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Well
Building Details
Year built
1987
Floors in Building
1
Number of units
4
Flooring type
Vinyl
Building materials
Block, Concrete, Stucco
Roof type
Shingle
Listing Agency:
Vincent Keenan, REALTORS
(321) 784-6286
Listed By:
Vincent Keenan · License #359856
(321) 693-0187
Added: Jul 10
Changed: Jul 29
Last Checked: Jul 30 at 5:06PM
MLS# 1082255
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 fully remodeled quadplex includes four separate 2-bedroom, 2-bath units. Interiors feature vaulted ceilings in the kitchen/living area, recessed lighting, and an open floor plan with vinyl flooring throughout. Each unit includes a screened porch and a private, fenced backyard, along with modern fixtures, walk-in showers, walk-in closets, and double-sink vanities in the primary suites. Other reported improvements include stainless steel appliances, hurricane impact windows, newer air conditioning units, and a new hot water heater. Each unit also has a 1-car garage, and the property is served by a shared artesian well with an oversized septic system.
The property is located in Melbourne Beach and is described as being across from the Atlantic Ocean with A1A frontage, in a quiet neighborhood one block from beach access.
The site totals 0.49 acres, accommodating the four-unit configuration with outdoor space for each residence.
The property is located in Melbourne Beach and is described as being across from the Atlantic Ocean with A1A frontage, in a quiet neighborhood one block from beach access.
The site totals 0.49 acres, accommodating the four-unit configuration with outdoor space for each residence.
Key Highlights
- Fully remodeled quadplex with four 2/2 units (1 car garage for each unit)
- Vaulted ceilings with recessed lighting plus an open floor plan in the kitchen/living area
- Vinyl flooring throughout; stainless steel appliances and walk‑in showers
Financial Insights For Multifamily LT 5
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 | $64.8k | $17.40 |
| − Vacancy | −$4.2k | −$1.13 |
| EGI | $60.6k | $16.27 |
| − OpEx | −$18.2k | −$4.88 |
| NOI | $42.4k | $11.39 |
3,722 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$605.5K
$529.8K – $706.5K
NOI $42,387 @ 7.0% cap · market cap 3.14%
Second Best
Apartment 5plus
$544.3K
$476.3K – $635.0K
NOI $38,101 @ 7.0% cap · market cap 2.82%
Theoretical Best
Office A
$982.0K
$859.2K – $1.15M
NOI $68,738 @ 7.0% cap · market cap 5.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Fenced yard
Yes
Paved road access
Yes
Water rights
Location Intelligence
Trade Area within ½ mile
42
Businesses Nearby
Explore this area
Business Placement
Demographics for 32951, FL
11,525
Population
7,720
Households
1.5
Avg Household Size
61
Median Age
52%
College-Educated
97%
High-School Grad
8.1 sq mi
ZIP Area
1,423
Density / Sq Mi
$88,859
Median Household Income
$53,281
Median Earnings
$1,690
Median Rent
$495,700
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?
Quadplex - A fully remodeled quadplex offers four 2-bedroom, 2-bath units with screened porches and fenced backyards.
Where is this quadplex located?
The property is located at 5001 Malabar Boulevard Melbourne Beach, FL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Fully remodeled quadplex with four 2/2 units (1 car garage for each unit); Vaulted ceilings with recessed lighting plus an open floor plan in the kitchen/living area; Vinyl flooring throughout; stainless steel appliances and walk‑in showers
