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    704 Lincoln Ave Melbourne, FL 32901

    For Sale
    $795,000

    Four-unit turnkey rental, prime location.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    366
    This meticulously maintained 1926 Spanish Colonial-style quadraplex, located at 704 E Lincoln Avenue in Melbourne, Florida, presents a compelling investment opportunity. The property boasts four one-bedroom, one-bathroom apartments, each separately metered, and fully furnished with a blend of modern and classic Florida charm. Situated on an 8,712 square foot lot, this two-story building is ideally positioned just two blocks from Historic Downtown Melbourne, offering easy access to restaurants, bars, shops, and the beaches of Indialantic via the nearby causeway. The property's convenient location also provides quick access to US1 and A1A. Since 2018, this property has operated as a successful short-term rental (STR), generating consistent income through platforms such as Airbnb and VRBO, along with a direct website and mid-term rental channels. The established STR operation benefits from streamlined management, a robust software system for optimizing occupancy and rates, and a history of high occupancy. This turnkey property is perfect for a passive investor, a self-managed STR operator, or a 1031 exchange. The current professional management team, holding Superhost status, is available to continue managing the property. The asking price for this exceptional investment is $795,000. The property's zip code is 32901.

    Property Features for 704 Lincoln Ave

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1926
    Stories
    2
    Units
    4

    HighLights

    • $795,000 asking price.
    • Four‑unit multifamily apartment building.
    • Located at 704 E Lincoln Avenue, Melbourne, FL 32901.
    • Built in 1926, two stories on an 8,712 sq ft lot.
    • Turnkey vacation rental investment opportunity, professionally managed since 2018 with high occupancy.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Realty agency Restaurant Law Firm Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Daycare Center Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.6091897
    Latitude
    28.0811362

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    FAQs

    What type of property is this?
    Multifamily property - Four-unit turnkey rental, prime location.
    Where is this multifamily property located?
    The property is located at 704 Lincoln Ave Melbourne, FL.
    What is the asking price?
    The asking price for this property is $795,000.
    What are key features of this property?
    This property features: $795,000 asking price.; Four-unit multifamily apartment building.; Located at 704 E Lincoln Avenue, Melbourne, FL 32901.
    Request Owner's contact information
    704 Lincoln Ave Melbourne, FL 32901
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    Melbourne, FL 32901
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    704 Lincoln Ave Melbourne, FL 32901
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