704 E LINCOLN AVENUE MELBOURNE FL 32901 MLS #O6242336

704 E LINCOLN AVENUE
MELBOURNE, FL, 32901
$850,000
Beds
0 Baths
2,619 SqFt
0.2 Acres
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TURN-KEY vacation rental investment opportunity 2 blocks from Historic Downtown. Operated as a professionally managed STR since 2018, the Lincoln Guest House has broad appeal to vacationers, students and professionals. This Spanish Colonial quadraplex apartment offers four one-bedroom/one-bath apartments metered separately. The units are fully furnished and thoughtfully decorated with a mix of modern aesthetic and old-Florida charm. The quad is within walking distance of restaurants, bars, shops with Indialantic beaches just over the causeway and easy access to US1 and A1A. Established STR operation with high occupancy currently listed on Airbnb, VRBO, direct website and mid-term channels. Professionally managed, property has a long income history, streamlined operations and software stack to optimize occupancy and rates. This is a great passive investment opportunity, turnkey self-managed STR or 1031 exchange. Professional management with Superhost status can continue.
Improvements: new roof installed 2023 and 4 high-efficiency ductless AC systems also installed in 2023. Flexible C1 mixed-use zoning.
Gross income of $110,000 (3 yr avg) with very high occupancy and steady income.

Property Details

Price:
$850,000
MLS #:
O6242336
Status:
Active
Beds:
0
Baths:
0
Address:
704 E LINCOLN AVENUE
Type:
Multi Family
Subtype:
Quadruplex
Subdivision:
CAMPS PLAT OF MELBOURNE
Neighborhood:
32901 – Melbourne
City:
MELBOURNE
Listed Date:
Sep 19, 2024
State:
FL
Finished Sq Ft:
2,619
ZIP:
32901
Lot Size:
8,712 sqft / 0.20 acres (approx)
Year Built:
1926
Units:
4
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Schools

Interior

Cooling
Central Air, Zoned
Flooring
Ceramic Tile, Hardwood
Heating
Central, Zoned
Laundry Features
None

Exterior

Construction Materials
Block, Stucco
Exterior Features
Sidewalk
Roof
Other

Financial

Tax Year
2023
Taxes
$7,074

Map

Community

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704 E LINCOLN AVENUE
MELBOURNE, FL