Jasmine Cove 825 E University Blvd 42 Unit Apartment Building $5,750,000 ($136,905/Unit) 7.87% Cap Rate Melbourne, FL 32901

42 Unit, townhome property located in Melbourne, FL (Space Coast). Renovations: The property has undergone significant upgrades including but not limited to 60% of the units having been fully renovated, 60% of the units having been completely repiped, all electrical wiring and panels replaced, all windows and doors replaced and 85% of the HVACs replaced in the last five years. Unit Mix: Attractive unit mix of all two-bedroom townhome units with 900 square feet. Proven Upside: Renovated units at Jasmine are commanding a $150 unit premium with a defendable pathway to an additional $145 increase within the next two years. Property Location: Jasmine is situated just minutes from multiple primary, secondary, and higher education schools including the Florida Institute of Technology which is just one mile away. Entertainment and Employment: Jasmine is located within a short drive to multiple malls, shopping centers, hospitals, golf courses and Melbourne Orlando International Airport. Explosive Growth: Brevard County has the highest growth rate amongst 100 midsized communities across the country measured by GDP (Kenan Institute of Private Enterprise). Diverse Job Sectors: Brevard County has significant job diversification across multiple sectors, insulating the economy from any downturn of a particular sector. Space Race 2.0: Looking ahead, SpaceX seeks FAA approval to boost annual Falcon rocket launches to 120 launches a year with the company bringing the mighty Starship to the Space Coast, generating at least $1.8 billion in estimated capital investment and 600 new full-time jobs by 2030. Tech & High-Tech Job Growth: High-tech industries (aerospace, defense, manufacturing and software) have seen 41.6% employment growth over a five-year span, ranking among the fastest in the U.S. in the past decade (Space Coast Daily)