Historic 4-Unit
For Sale
$600,000
658 Young Street, Melbourne, FL 32935
Each residence includes a bonus room, separate living and dining areas, and a full kitchen.
Property Size3,144 SF
Price / SF$190.84
Days on Market23
Property Features for 658 Young Street
General Information
Standard status
Active
Size
3,144 SF
Property subtype
Quadruplex
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,093
Amenities
ductless mini-split systems
stackable washer/dryers
Building Details
Building Size
3,144 SF
Year Built
1926
Listing Agency:
Space Coast Realty & Inv. LLC
Listed By:
Donna A Gianotti-Kelley
(321) 783-5000
Source:
Inthehomezonerealty
Added: Oct 6
Changed: Oct 26
Last Checked: Oct 26 at 2:49PM
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 Space Coast Realty & Inv. LLC
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Investment Insights
Based on property information with market context.
Built in 1926, this 3,144-square-foot quadplex contains four one-bedroom, one-bathroom apartments. Each residence has living and dining areas, a full kitchen, and an additional bonus room. Interior renovations retain historic character while updating key building systems and finishes.
Improvements include a 2022 roof, new plumbing, some new electrical work, tankless water heaters, and impact windows in most areas. Each apartment is equipped with two ductless mini-split systems and a stackable washer and dryer. The property is in Melbourne’s Eau Gallie Arts District, near the Eau Gallie Marina and within walking distance of shops, restaurants, and nightlife, with access to US-1 and the beach.
Improvements include a 2022 roof, new plumbing, some new electrical work, tankless water heaters, and impact windows in most areas. Each apartment is equipped with two ductless mini-split systems and a stackable washer and dryer. The property is in Melbourne’s Eau Gallie Arts District, near the Eau Gallie Marina and within walking distance of shops, restaurants, and nightlife, with access to US-1 and the beach.
Key Highlights
- Four apartments, each with 1 bedroom and 1 bathroom
- 3,144 square feet; built in 1926
- Each unit includes two ductless mini‑split systems and a stackable washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,805
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$716,100
$716.1K
Cap Rate 7%
$511,500
$511.5K
Cap Rate 9%
$397,833
$397.8K
Market Conditions
NOI Build-Up for 3,144 SF
Gross rent
$54.7K $17.40/SF
− Vacancy
−$3.6K −$1.13/SF
EGI
$51.1K $16.27/SF
− OpEx
−$15.3K −$4.88/SF
NOI
$35.8K $11.39/SF
Area
Brevard County, FL
Vacancy
6.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$716,100
Cap Rate 7%
$511,500
Cap Rate 9%
$397,833
Alternative Uses
Best Use
Multifamily LT 5
$511.5K
$447.6K – $596.8K
NOI $35,805 @ 7.0% cap · market cap 5.97%
Second Best
Apartment 5plus
$459.8K
$402.3K – $536.4K
NOI $32,184 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$829.5K
$725.8K – $967.7K
NOI $58,063 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
970
Businesses Nearby
Explore this area
Business Placement
Demographics for 32935, FL
41,837
Population
20,338
Households
2.1
Avg Household Size
44
Median Age
28%
College-Educated
94%
High-School Grad
13.1 sq mi
ZIP Area
3,194
Density / Sq Mi
$63,841
Median Household Income
$38,094
Median Earnings
$1,404
Median Rent
$240,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Each residence includes a bonus room, separate living and dining areas, and a full kitchen.
Where is this quadplex located?
The property is located at 658 Young Street Melbourne, FL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Four apartments, each with 1 bedroom and 1 bathroom; 3,144 square feet; built in 1926; Each unit includes two ductless mini‑split systems and a stackable washer and dryer
