Six-Unit Multifamily
For Sale
$1,050,000
7522 Magnolia Avenue, Cape Canaveral, FL 32920
MULTI_FAMILY - Cape Canaveral, FL
Property Size3,872 SF
Lot Size0.14 Acres
Price / SF$271.18
Days on Market92
Property Features for 7522 Magnolia Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
12
Rooms
Bedroom 1, Bedroom 4, Bedroom 2, Bedroom 6, Bedroom 5, Bedroom 12, Bedroom 7, Bedroom 3, Bedroom 10, Bedroom 8, Bedroom 9, Bedroom 11
Parking features
Parking Lot, Assigned
Exterior features
Balcony
Appliances
Electric Range, Electric Water Heater, Refrigerator
Subdivision
Avon By The Sea
Elementary school
Cape View
Middle school
Cocoa Beach
High school
Cocoa Beach
Directions
From A1A head north then turn right onto Taylor Ave. Then take a left onto Magnolia Ave. and the complex will be on right hand.
Standard status
Active
APN
24-37-23-Cg-00044.0-0008.00
Size
3,872 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
AVON BY THE SEA LOT 8 BLK 44
Tax Annual Amount
8452
Legal Description
AVON BY THE SEA LOT 8 BLK 44
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Wall/Window Unit(s), Central Air, Window Unit(s), Electric
Water source
Public
Building Details
Year built
1958
Floors in Building
2
Number of units
6
Flooring type
Tile
Building materials
Block, Concrete, Stucco
Listing Agency:
Vincent Keenan, REALTORS
(321) 784-6286
Listed By:
Vincent Keenan · License #359856
(321) 693-0187
Added: Apr 30
Changed: Jul 29
Last Checked: Jul 30 at 4:06PM
MLS# 1076055
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 six-unit multifamily property offers all units as 2 bedrooms and 1 bathroom, with approximately 650 square feet each and outdoor space in the form of backyards or balconies. The building is described as sturdy concrete construction. Ownership-reported updates include newer air conditioning installed less than 2 years ago, almost all units renovated within the last 5 years, and interior refreshes such as fresh paint. Exterior and systems maintenance noted in the remarks include a flat roof that is about 15 years old with continuous maintenance and joints flashed within the last 2 years, a newer gutter system installed within the last 2 years, and upgraded electrical.
Located at 7522 Magnolia Avenue in Cape Canaveral, the property is positioned on a corner. The listing notes easy access to major thoroughfares and proximity to Port Canaveral, SR 520, SR 528, Kennedy Space Center, and Patrick AFB, along with nearby shopping, dining, services, and entertainment, including downtown Cocoa Beach and Ron Jon surf shop.
For tenants seeking a consistent 2-bedroom format and usable outdoor space, this setup may be a practical fit. For investors and owner-operators, the current presentation highlights ongoing capital attention—particularly around mechanicals, roof maintenance, gutters, and electrical—as well as a reported zero vacancy rate and a largely renovated unit mix. The consistent unit type and maintenance history can simplify leasing and ongoing property management.
Located at 7522 Magnolia Avenue in Cape Canaveral, the property is positioned on a corner. The listing notes easy access to major thoroughfares and proximity to Port Canaveral, SR 520, SR 528, Kennedy Space Center, and Patrick AFB, along with nearby shopping, dining, services, and entertainment, including downtown Cocoa Beach and Ron Jon surf shop.
For tenants seeking a consistent 2-bedroom format and usable outdoor space, this setup may be a practical fit. For investors and owner-operators, the current presentation highlights ongoing capital attention—particularly around mechanicals, roof maintenance, gutters, and electrical—as well as a reported zero vacancy rate and a largely renovated unit mix. The consistent unit type and maintenance history can simplify leasing and ongoing property management.
Key Highlights
- 6‑unit multi‑family complex; all units are 2‑bedroom, 1‑bath and approximately 650 SF each (with backyards or balconies).
- Almost all units renovated within the last 5 years; complex reported with a zero vacancy rate.
- Newer AC reportedly less than 2 years old; HVAC includes central and electric options.
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 | $76.7k | $19.80 |
| − Vacancy | −$4.6k | −$1.19 |
| EGI | $72.1k | $18.61 |
| − OpEx | −$32.4k | −$8.38 |
| NOI | $39.6k | $10.24 |
3,872 SF · lease $19.80/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$566.2K
$495.5K – $660.6K
NOI $39,636 @ 7.0% cap · market cap 3.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$893.9K – $1.19M
NOI $71,508 @ 7.0% cap · market cap 6.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
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 - Well-kept six-unit complex with 2-bedroom layouts, outdoor space, and recent renovations alongside newer mechanicals.
Where is this apartment building located?
The property is located at 7522 Magnolia Avenue Cape Canaveral, FL.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 6‑unit multi‑family complex; all units are 2‑bedroom, 1‑bath and approximately 650 SF each (with backyards or balconies).; Almost all units renovated within the last 5 years; complex reported with a zero vacancy rate.; Newer AC reportedly less than 2 years old; HVAC includes central and electric options.
