NOT LISTED FOR SALE

1501 S Shannon Ave Indialantic, FL 32903

-- Bed
2 Baths
6,500 Sq Ft
0.41 Acres

Last Sold October 21, 2016

Last sale price $880,000 $135 Per Sq Ft

115 Days on Market

Highlights

  • Wood Flooring
  • Corner Lot
  • Central Air
  • Indialantic Elementary School Rated A-
  • No HOA
  • Wood Siding

About This Home

As of October 2016

The Palms Condo is one of the only multi-family properties located in the ''South of 5th'' area of Indialantic. 8 beautiful 2BR units that are fully condominiumized!!
Great income forever or sell them individually. Four units can be sold as a package for $500,000 or single units ranging in price from $159,500 to $175,000 depending on the unit.

Last Agent to Sell the Property

Rick Bertel

Treasure Coast Sotheby's Intl Listed on: 07/29/2016

Treasure Coast Sotheby's Intl

Last Buyer's Agent

Tami Leliuga Shriver

Mutter Realty License #686160

Mutter Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,258

Year Built

  • Built in 1928

Lot Details

  • Corner Lot

Home Design

  • Quadruplex
  • Frame Construction
  • Metal Roof
  • Wood Siding
  • Stucco

Interior Spaces

  • 6,500 Sq Ft Home
  • 2-Story Property

Kitchen

  • Electric Range
  • Disposal

Flooring

  • Wood
  • Tile

Parking

  • 16 Open Parking Spaces
  • 16 Parking Spaces
  • Additional Parking

Schools

  • Indialantic Elementary School
  • Hoover Middle School
  • Melbourne High School

Utilities

  • Central Air
  • Cable TV Available

Listing and Financial Details

  • The owner pays for electricity, exterior maintenance, grounds care, insurance, pest control, sewer, taxes, trash collection, water
  • Assessor Parcel Number 28-38-06-25-00096.0-0017.01

Community Details

Overview

  • No Home Owners Association
  • 84 Units

Building Details

  • Operating Expense $16,400
  • Gross Income $86,400
  • Net Operating Income $70,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,258

Year Built

Built in 1928

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Year Built: 1928
  • Reso Property Sub Type: Quadruplex
  • ResoLotFeatures: Corner Lot
  • ResoSpecialListingConditions: Standard
  • Carport Y N: No
  • Garage Yn: No
  • Unit Levels: Two
  • Location Tax and Legal Parcel Number2: 28-38-06-25-00096.0-0017.01
  • Location Tax and Legal Elementary School: Indialantic
  • Location Tax and Legal Middle School2: Hoover
  • Location Tax and Legal High School: Melbourne
  • Location Tax and Legal Tax Annual Amount: 1258.04
  • Location Tax and Legal Tax Year2: 2015
  • General Property Information Living Area2: 6500.0
  • General Property Information Building Area Total3: 5600.0
  • General Property Information Waterfront YN: No
  • Cooling Central Air: Yes
  • Cooling:Electric: Yes
  • Flooring Tile: Yes
  • Flooring Wood: Yes
  • Utilities Cable Available: Yes
  • Utilities Electricity Connected: Yes
  • Levels Two: Yes
  • Water Source Public: Yes
  • General Property Information Carport YN2: No
  • Utilities Water Available: Yes
  • General Property Information Number Of Units Total2: 84.0
  • Gross Scheduled Income: 86400.0
  • Income And Expenses Operating Expense: 16400.0
  • Utilities Sewer Connected: Yes
  • Owner Pays:Sewer2: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Tile, Wood
  • Appliances: Disposal, Electric Range
  • ResoLivingAreaSource: PublicRecords
  • Appliances:Electric Range: Yes

Exterior Features

  • Pool Features: None
  • Roof: Metal
  • Waterfront: No
  • Construction Type: Frame, Stucco, Wood Siding
  • Construction Materials:Stucco: Yes
  • Construction Materials:Frame: Yes
  • Construction Materials:Wood Siding: Yes
  • ConstructionSiding:Roof Metal: Yes
  • Lot Features:Corner Lot: Yes

Garage/Parking

  • Attached Garage: No
  • Parking Features: Additional Parking
  • Total Parking Spaces: 16.0
  • General Property Information:Garage YN: No
  • Parking Features:Additional Parking: Yes
  • General Property Information:Parking Total: 16.0
  • General Property Information:Open Parking Spaces2: 16.0

Utilities

  • Cooling: Central Air, Electric
  • Utilities: Cable Available, Electricity Connected, Sewer Connected, Water Available
  • Cooling Y N: Yes
  • Water Source: Public

Condo/Co-op/Association

  • Association: No

Association/Amenities

  • General Property Information:Association YN: No

Schools

  • Middle Or Junior School: Hoover

Lot Info

  • Parcel #: 28-38-06-25-00096.0-0017.01

Rental Info

  • Owner Pays: Electricity, Exterior Maintenance, Grounds Care, Insurance, Pest Control, Sewer, Taxes, Trash Collection, Water

Tax Info

  • Tax Year: 2015
  • Tax Annual Amount: 1258.04

Multi Family

  • Number Of Units Total: 84
  • Annual Operating Expense: 16400.0
  • Income And Expenses Net Operating Income: 70000.0

MLS Schools

  • Elementary School: Indialantic
  • High School: Melbourne

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/21/2016 10/21/16 Sold $880,000 -2.2% $135 / Sq Ft
08/16/2016 08/16/16 Pending -- -- --
04/22/2016 04/22/16 For Sale $900,000 -- $138 / Sq Ft
Source: Space Coast MLS (Space Coast Association of REALTORS®)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • R

    Seller's Agent in 2016

    Rick Bertel

    Treasure Coast Sotheby's Intl

    Section Image

  • T

    Buyer's Agent in 2016

    Tami Leliuga Shriver

    Mutter Realty

    Section Image

  • O

    Buyer's Agent in 2016

    Out Of Area Non-Member

    Out of Area

  • T

    Buyer's Agent in 2016

    Tami Leliuga

    Real Living Mutter Real Estate Group

  • S

    Buyer's Agent in 2016

    S. Renee Wiebelt

    SouthStar Realty Assoc. Inc.

See All Agents

Map

Source: Space Coast MLS (Space Coast Association of REALTORS®)

MLS Number: 752686

Space Coast MLS (Space Coast Association of REALTORS®)

APN: 28-38-06-25-00096.0-0017.00

Florida Brevard County Indialantic 32903

1501 S Shannon Ave, Indialantic, FL

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Space Coast MLS (Space Coast Association of REALTORS®) IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.

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