Investment Opportunity: 13-Unit Multi-Family Portfolio in Cape Canaveral, Florida
This portfolio consists of 13 apartments/duplexes, strategically located across several prime addresses in Cape Canaveral, Florida:
201 Pierce Ave
203 Pierce Ave
205 Pierce Ave
7108 Poinsettia Ave
7110 Poinsettia Ave (A, B, and C units, with B currently vacant)
200 Buchanan Ave
204 Buchanan Ave
7104 Poinsettia Ave (A and B units)
208 Buchanan Ave
212 Buchanan Ave
Key Financial Highlights:
Current Gross Income: $177,600
Proforma Market Rate Gross Income: $228,200 (a potential increase of over 28%)
Property Features & Investment Potential:
This is a rare opportunity to acquire a 13-unit multi-family property in Cape Canaveral, a thriving and highly desirable area. With only one unit currently vacant, this property offers immediate cash flow and an attractive return on investment.
The units are presently rented below the current market rates for the region, presenting a significant upside potential for rental income once rents are brought up to market levels. Additionally, the area is known for being short-term rental friendly, opening the door for potential increased revenue through vacation rentals or long-term leases.
Prime Location:
The property is just minutes from the pristine beaches of Cape Canaveral and the Cocoa Beach area, making it highly desirable to both long-term tenants and short-term vacationers. This highly sought-after location continues to experience growth and appreciation, ensuring long-term investment stability.
Take advantage of this opportunity to secure a well-located, cash-flowing asset with immediate upside potential.