152 Crescent Beach Dr Cocoa Beach, FL 32931
- Small apartment buildings
Current Use by Public Records
- Small apartment buildings
Property Details for 152 Crescent Beach Dr
- Year built
- 1964
- Property type
- Small apartment buildings
Description
This exceptional investment opportunity presents a nine-unit multifamily property located at 152 Crescent Beach Drive, Cocoa Beach, Florida, 32931. The property, built in 1964, consists of eight one-bedroom, one-bathroom apartments and a separate four-bedroom, 2.5-bathroom house, all situated on a substantial 0.66-acre lot (28,749.6 sq ft). The two-story building enjoys a coveted beachfront location, directly across from the beach and adjacent to the river, offering unparalleled coastal views and access. The asking price is $2,800,000. This property presents significant potential for various development strategies. Investors could capitalize on the prime location by converting the units into hotel-branded residences, catering to the high demand for Cocoa Beach accommodations. Alternatively, a renovation project could create larger, more luxurious units, appealing to both residents and vacationers. The property's size and location make it an attractive proposition for those seeking a high-return coastal investment. The existing structure provides a solid foundation for immediate income generation while offering considerable upside potential through strategic improvements and repositioning. This is a rare chance to acquire a substantial multifamily property in a highly desirable beachfront location.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cocoa Beach
- County
- Brevard
- State
- Florida
- Longitude
- -80.6087975
- Latitude
- 28.2828658
