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11450 Indian River Dr - ISLAND VIEW COTTAGES 1.5 Acres of Residential Land Offered at $2,995,000 in Sebastian, FL 32958
INVESTMENT HIGHLIGHTS
- RIVERFRONT
- 8 SLIP DOCK IN PLACE
- 1.61 ACRES MULTIFAMILY ZONING
EXECUTIVE SUMMARY
Riverfront 1.61 acres with RM - 6 zoning allowing 6-7 luxury multifamily units. End unit pricing in the $1.25-$1,750,000 range. Beautiful Old Florida feel with unobstructed river views and 8 slip dock in place. Short distance to the Sebastian Riverfront district for restaurants and retail. Current usage is 12 rental cottages recently renovated by local and out of area professional interior designers. Note, current usage is nonconforming.
DATA ROOM Click Here to Access
PROPERTY FACTS
1 LOT AVAILABLE
Lot 7
| Price | $2,995,000 | Lot Size | 1.50 AC |
| Price Per AC | $1,996,666.67 |
| Price | $2,995,000 |
| Price Per AC | $1,996,666.67 |
| Lot Size | 1.50 AC |
1.61 riverfront acres with RM-6 zoning allowing for 6-7 luxury multifamily units. Land dimensions of 187x514 with county water and sewer available. Unobstructed views of the intracoastal for all units.
DESCRIPTION
RIVERFRONT 1.61 ACRES WITH MULTIFAMILY ZONING FOR LUXURY UNITS IN THE $1.25-1.75 MILLION DOLLAR PRICE RANGE. UNOBSTRUCTED RIVER VIEWS FOR ALL UNITS. COUNTY WATER AND SEWER AVAILABLE. OLD FLORIDA OAK ENTRYWAY WITH OPEN AREA NEAR THE RIVER. CURRENTLY 12 UNIT RENTAL COTTAGES BUT IS NON CONFORMING.
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $227,537 | |
| Land Assessment | $577,606 | Total Assessment | $805,143 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$577,606
Improvements Assessment
$227,537
Total Assessment
$805,143
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11450 Indian River Dr - ISLAND VIEW COTTAGES
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