630 Adams Ave Cape Canaveral, FL 32920

This exceptional investment opportunity presents an 18-unit multifamily property located at 630 Adams Avenue, Cape Canaveral, Florida, 32920. The property, boasting 10,910 square feet, is situated on a 0.29-acre lot and enjoys a prime location just one lot away from direct beach access. The two-story building, constructed in 1962 of solid concrete block, comprises seventeen one-bedroom, one-bathroom units ranging from 400 to 600 square feet, many offering captivating ocean views. A unique feature is a spacious two-story primary suite with panoramic ocean vistas from every room. Currently configured as rental units, the property's R-3 zoning allows for diverse usage, including long-term or short-term rentals. The asking price is $5,400,000. Significant upside potential exists through renovation and potential conversion to condominiums or a boutique luxury apartment complex. The property's proximity to restaurants, parks, and Port Canaveral attractions further enhances its appeal and rental income prospects. Showings are by appointment only. This is a rare chance to acquire a well-located, income-producing asset with substantial redevelopment possibilities in a thriving coastal community.