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    973 Harbor City Blvd Melbourne, FL 32935

    For Sale
    $1,900,000

    Historic 3-unit Airbnb, waterfront views.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This exceptional investment opportunity presents a beautifully maintained, three-unit multifamily property located at 973 N Harbor City Blvd, Melbourne, FL 32935. The Harbor House, built in 1916, offers 4,176 square feet of net rentable space across three stories, situated on a 0.52-acre lot. Boasting stunning views of Eau Gallie Harbor, this property includes a private 150-foot pier, perfect for boating and fishing enthusiasts. The home features five bedrooms and 4.5 bathrooms, providing ample space for large families or groups. A significant highlight is the expansive covered outdoor patio overlooking the water, ideal for entertaining. Currently operating as a highly successful Airbnb, this property presents significant value-add potential. The deep-water harbor is suitable for yachts exceeding 100 feet in length, and the property is privately gated, ensuring privacy and security. The asking price is $1,900,000, with a price per unit of $633,333.33. This unique property offers a blend of historic charm, modern amenities, and significant income potential, making it an attractive investment in the desirable Melbourne, Florida market. The property's location offers both residential and commercial possibilities, presenting a versatile investment opportunity for discerning buyers. The property's strong rental history and prime waterfront location make it a compelling investment in the thriving Florida real estate market.

    Property Features for 973 Harbor City Blvd

    General Information

    Property type
    Multifamily properties
    Lot Size
    22,651 SF

    Building Details

    Year Built
    1916
    Stories
    3
    Units
    3

    HighLights

    • 10' deep‑water harbor access.
    • Accommodates yachts exceeding 100 feet.
    • Private gated entry.
    • Currently operating as multiple short‑term rentals (Airbnb).
    • Potential for commercial use.
    • 4,176 square feet of net rentable space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.631011885351
    Latitude
    28.123042007468

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    FAQs

    What type of property is this?
    Multifamily property - Historic 3-unit Airbnb, waterfront views.
    Where is this multifamily property located?
    The property is located at 973 Harbor City Blvd Melbourne, FL.
    What is the asking price?
    The asking price for this property is $1,900,000.
    What are key features of this property?
    This property features: 10' deep-water harbor access.; Accommodates yachts exceeding 100 feet.; Private gated entry.
    Request Owner's contact information
    973 Harbor City Blvd Melbourne, FL 32935
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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
    973 Harbor City Blvd Melbourne, FL 32935
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