7521 Magnolia Ave
Cape Canaveral, FL 32920
Multifamily Property For Sale
·
8 Units
Property Facts
| No. Units | 8 | Building Size | 4,906 SF |
| Property Type | Multifamily | Average Occupancy | 87% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1962 |
| Building Class | C | Parking Ratio | 2.85/1,000 SF |
| Lot Size | 0.16 AC | ||
| Zoning | R2 | ||
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 4,906 SF |
| Average Occupancy | 87% |
| No. Stories | 3 |
| Year Built | 1962 |
| Parking Ratio | 2.85/1,000 SF |
| Zoning | R2 |
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Pet Play Area
- Walk-Up
- Smoke Detector
About 7521 MAGNOLIA AVE , CAPE CANAVERAL, FL 32920
Incredible concrete block multifamily investment opportunity only 2 blocks from the beach, 1 mile from Port Canaveral, and 1 mile to the Cocoa Beach Pier. High demand rental area with several new developments in the planning and construction stages nearby. Next to the city park, and 1 block from the library. Building is currently gutted and boarded, with level 3 rehab required to bring it up to code. Two new roofs complete, but a new permit must be issued. One smaller shingle section still needs repair. $167,261.00 code enforcement judgement, and 5 years back-taxes in the amount of $26,810.42 will be paid from proceeds at closing. Repair estimates range from $150,000 - $300,000. Gross potential rent - approximately $90,000. After repair value - approximately $900,000. Drive by OK, but please do not enter the property. Walk-thru's permitted during buyer's due-diligence period.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | $725.00 | 302 - 500 |
| 2+1 | 3 | $900.00 | 543 - 714 |
| 3+1 | 2 | $1,200 | 835 |
Property Taxes
| Parcel Number | 24-37-23-CG-00043.0-0015.01 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,057,320 |
Property Taxes
