813-345-5887
150 E University Blvd, Melbourne, FL for Sale
Apartments - FOR SALE
1/29
null | Request Cap Rate

150 E University Blvd
Melbourne, FL 32901
Downtown Melbourne


HIGHLIGHTS

  • Current Ownership has Spent Nearly $4.2MM in Capital Expenditures Limiting the Need for Future Expenditures from New Ownership
  • Ability to Upgrade Classic, Partially Upgraded Units, and Further Enhance Fully Upgraded Units to Obtain Additional Rent Premiums
  • Washer/Dryer Connections in Some Units with the Ability to Retrofit Remaining units with Connections and/or Appliances for Additional Upside
  • Diverse Mix of One, Two and Three-Bedroom Units Featuring Modern, Functional Floorplan Layouts
  • Located 0.3 Miles from FL Institute of Technology University Which Annually Enrolls Over 9,500 Students & Staff
  • Being Offered Free and Clear of Debt Encumbrances

OVERVIEW

***CALL FOR OFFERS DUE: AUGUST 12, 2025*** Franklin Street is proud to present an outstanding investment opportunity in a prime location adjacent to Florida Tech University and just minutes from historic downtown Melbourne. With nearly $4.2 million recently invested in capital improvements, the need for immediate expenditure is minimized, allowing investors to focus on future value enhancement. The property boasts a comprehensive range of amenities, including resort-style pools, a summer kitchen, and various recreational areas, which enhance its appeal. There is significant potential to increase rents; and the option to upgrade units and install washers/dryers offers additional revenue opportunities. This property is offered free and clear of debt encumbrances, providing investors with a clean slate for financial planning and investment growth. In summary, this property represents a compelling investment opportunity with substantial value-add potential, excellent location benefits, and a strong tenant demand driven by nearby educational and employment centers. It’s an ideal choice for investors seeking a high-growth asset in a dynamic and promising market.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

229

CAP RATE

Request Cap Rate

% LEASED

86%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Topaz Village Apartments and Townhomes

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1976

PARKING SPACES

-

LAND DETAILS

LAND ACRES

11.88 AC

LAND SF

517,493 SF

ZONING

R3

APN/PARCEL ID

28-37-10-00-00259.0-0000.00

ASK ABOUT THIS PROPERTY

Avery JordanFranklin StreetMore Info
813-345-5887

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Avery JordanFranklin StreetMore Info
813-345-5887

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.