955 Knox McRae Dr - Apartments FOR SALE


Titusville, FL 32780
$2,500,000 USD
321-388-4394
955 Knox McRae Dr, Titusville, FL for Sale
$2,500,000 USD
Apartments - FOR SALE
1/9
null | 7.4% Cap Rate

955 Knox McRae Dr
Titusville, FL 32780


HIGHLIGHTS

  • Minutes from the Indian River
  • Updated Units
  • Professionally Managed
  • 75% of Units Have New ACs
  • $30,000 Roof Coating Completed
  • Concrete Block Construction

OVERVIEW

Coquina Court Apartments is a 20-unit multifamily community located in Titusville, Florida. The property features a single concrete block building constructed in 1969 and offers a mix of 12 two-bedroom/one-bath units and 8 one-bedroom/one-bath units. Recent ownership improvements include $30,000 in roof work. Tenants pay their own electric, while the owner covers water, resulting in a simplified utility structure for investors. Titusville, in Brevard County, is known as “Space City, USA” due to its strong ties to the aerospace industry. The city is experiencing significant economic growth, with a new aerospace company bringing 1,347 jobs over the next four years, plus an estimated 900 additional jobs in spinoff or related work for former space shuttle program employees. This expansion represents nearly $96 million in payroll and an economic impact of approximately $48 million, fueling continued demand for housing in the area.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$156 USD /SF

# OF UNITS

20

PRICE/UNIT

$125,000

CAP RATE

7.4%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Coquina Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Manufactured Housing/Mobile Housing, Dormitory

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1969

PARKING SPACES

34

LAND DETAILS

LAND ACRES

0.91 AC

LAND SF

39,640 SF

ZONING

R-3, County

APN/PARCEL ID

22-35-22-00-00254.0-0000.00

ASK ABOUT THIS PROPERTY

Johnny PullmanThe APT Brokers.comMore Info
321-388-4394

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Johnny PullmanThe APT Brokers.comMore Info
321-388-4394

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