505 Fillmore Ave Cape Canaveral, FL 32920
- Apartment buildings
- 13,568 SF
- 0.58 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 505 Fillmore Ave
- Year built
- 1967
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.58 lot acres
- Property size
- 13,568 SF
- Zone code
- R3
- Property type
- Apartment buildings
- APN
- 24-37-23-CG-00060.0-0001.00
- APU
- 243723CG000600000100
Description
This exceptional 15-unit apartment building, Fillmore Palms, presents a lucrative investment opportunity in Cape Canaveral, Florida. Situated on a 0.58-acre lot just 300 feet from the beach, this concrete block building with a pitched shingle roof (new in 2021) offers approximately 11,904 gross square feet across two stories. The property boasts a desirable unit mix: five one-bedroom/one-bathroom units, nine two-bedroom/one-bathroom units, and one four-bedroom/two-bathroom unit, making it ideal for both long-term and short-term rentals. Amenities include a sparkling swimming pool and central air conditioning. Utilities are efficiently managed with separately metered electricity, while water, sewer, and trash are covered by the landlord. Its prime location offers easy access to Cocoa Beach Pier (5 minutes away) and Kennedy Space Center (under 20 minutes). The property's projected annual income is $529,200, presenting significant potential for short-term rental (STR) and Airbnb operations. The property is zoned R-3. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a highly sought-after coastal location. The building was renovated in 2023.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cape Canaveral
- County
- Brevard
- State
- Florida
- Longitude
- -80.6004
- Latitude
- 28.383
- CBSA code
- 37340
- CBSA name
- PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA
