200 Buchanan Ave - Apartments FOR SALE


Cape Canaveral, FL 32920
$2,099,000 USD
321-626-0889
200 Buchanan Ave, Cape Canaveral, FL for Sale
$2,099,000 USD
Apartments - FOR SALE
1/33
null | 8.37% Cap Rate

200 Buchanan Ave
Cape Canaveral, FL 32920


HIGHLIGHTS

  • Short Term Friendly Location
  • Income Producing
  • Block from the Beach

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$2,099,000 USD

PRICE/SF

$323 USD /SF

# OF UNITS

13

PRICE/UNIT

$161,462

CAP RATE

8.37%

% LEASED

92%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1962

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.85 AC

LAND SF

36,861 SF

ZONING

-

APN/PARCEL ID

24-37-23-CG-00062.0-0001.00,24-37-23-CG-00062.0-0009.00,24-37-23-CG-00062.0-0011.00

ASK ABOUT THIS PROPERTY

Paige LaneKeller Williams RealtyMore Info
321-626-0889

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Paige LaneKeller Williams RealtyMore Info
321-626-0889

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