208 Nieman Ave 201-202 Melbourne, FL 32901-1253

This exceptional investment opportunity presents a ten-unit multifamily property located at 208 Nieman Ave, Melbourne, Florida, 32901. The property, known as Kiera's Place, comprises two buildings totaling approximately 5,380 gross square feet on a 0.56-acre lot. Constructed in 1960 of concrete block with flat roofing, the complex features a mix of two studio units and eight one-bedroom, one-bathroom units. Each unit is equipped with wall air conditioning. Tenant responsibilities include electricity, while the owner covers water, sewer, and trash services. Adding to the property's appeal are eight on-site carports and two convenient storage units. The projected annual income for the first year is $175,920. Electricity is separately metered for each unit. This well-maintained property offers a solid return on investment with its established rental income and desirable features. The property's concrete block construction ensures durability and longevity. Its location in Melbourne, Florida provides access to a thriving rental market. This is a turnkey investment ready for immediate income generation.