505 Fillmore Ave Cape Canaveral, FL 32920-3130

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.