704 Lincoln Ave Melbourne, FL 32901

Property Details for 704 Lincoln Ave

Year built

1926

Property type

Small apartment buildings

Description

This meticulously maintained 1926 Spanish Colonial-style quadraplex, located at 704 E Lincoln Avenue in Melbourne, Florida, presents a compelling investment opportunity. The property boasts four one-bedroom, one-bathroom apartments, each separately metered, and fully furnished with a blend of modern and classic Florida charm. Situated on an 8,712 square foot lot, this two-story building is ideally positioned just two blocks from Historic Downtown Melbourne, offering easy access to restaurants, bars, shops, and the beaches of Indialantic via the nearby causeway. The property's convenient location also provides quick access to US1 and A1A. Since 2018, this property has operated as a successful short-term rental (STR), generating consistent income through platforms such as Airbnb and VRBO, along with a direct website and mid-term rental channels. The established STR operation benefits from streamlined management, a robust software system for optimizing occupancy and rates, and a history of high occupancy. This turnkey property is perfect for a passive investor, a self-managed STR operator, or a 1031 exchange. The current professional management team, holding Superhost status, is available to continue managing the property. The asking price for this exceptional investment is $795,000. The property's zip code is 32901.