NOT LISTED FOR SALE

1838 Pineapple Ave Melbourne, FL 32935

Studio
1 Bath
5,924 Sq Ft
8,712 Sq Ft Lot

Last Sold August 19, 2023

Last sale price $900,000 $152 Per Sq Ft

2 Days on Market

Highlights

  • The property is located in a historic district
  • No HOA
  • Wood Siding
  • Wood Flooring
  • Cooling System Mounted To A Wall/Window

About This Home

As of August 2023

Discover an incredible investment opportunity with this 8-unit property! Nestled in the heart of the historic Eau Gallie Arts District, this gem of a building once known as The Libbyan in the 1920s is now ready to be a lucrative addition to your real estate portfolio. Recent renovations, including Electric in 2022, Sewer Lateral Line in 2021, and Roof in 2014, provide peace of mind for a savvy investor seeking a well-maintained property. Spanning across 5,956 SF, this investment property offers a mix of One Bedroom and Studio Units, appealing to a wide range of potential tenants. With Gross Rents totaling over $81,000 annually, and rental rates with room to grow this property offers a solid investment with increased potential.

Last Agent to Sell the Property

Shey Anderson

JM Real Estate License #3435883 Listed on: 07/25/2023

JM Real Estate

Co-Listed By

Rob Solito

JM Real Estate License #3346024

Last Buyer's Agent

David Curri

David Curri Real Estate Group License #3093601

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,391

Year Built

  • Built in 1925

Lot Details

  • 8,712 Sq Ft Lot
  • Few Trees

Home Design

  • Frame Construction
  • Membrane Roofing
  • Wood Siding
  • Stucco

Interior Spaces

  • 5,924 Sq Ft Home
  • 2-Story Property
  • Gas Range

Flooring

  • Wood
  • Tile

Parking

  • 8 Open Parking Spaces
  • 8 Parking Spaces
  • Assigned Parking

Location

  • The property is located in a historic district

Schools

  • Creel Elementary School
  • Johnson Middle School
  • Eau Gallie High School

Utilities

  • Cooling System Mounted To A Wall/Window
  • Central Air
  • Separate Meters
  • Propane

Listing and Financial Details

  • The owner pays for electricity, gas, grounds care, insurance, management, pest control, sewer, taxes, trash collection, water
  • Assessor Parcel Number 27-37-16-25-00008.0-0014.00

Community Details

Overview

  • No Home Owners Association
  • 8 Units

Building Details

  • Operating Expense $24,675
  • Gross Income $81,240
  • Net Operating Income $56,565

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,391

Year Built

Built in 1925

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Year Built: 1925
  • Reso Property Sub Type: Multi Family
  • ResoLotFeatures: Few Trees, Historic Area
  • Co List Office Mls Id: jmre0
  • Co List Office Phone: 321-242-2882
  • ResoSpecialListingConditions: Standard
  • Carport Y N: No
  • Garage Yn: No
  • Unit Levels: Two
  • Location Tax and Legal Parcel Number2: 27-37-16-25-00008.0-0014.00
  • Location Tax and Legal Elementary School: Creel
  • Location Tax and Legal Middle School2: Johnson
  • Location Tax and Legal High School: Eau Gallie
  • Location Tax and Legal Tax Annual Amount: 7390.99
  • Location Tax and Legal Tax Year2: 2022
  • General Property Information Living Area2: 5924.0
  • General Property Information Building Area Total3: 5956.0
  • General Property Information Lot Size Acres: 0.2
  • General Property Information Lot Size Square Feet2: 8712.0
  • General Property Information Waterfront YN: No
  • Appliances Refrigerators: Yes
  • Cooling Central Air: Yes
  • Flooring Tile: Yes
  • Flooring Wood: Yes
  • Levels Two: Yes
  • Water Source Public: Yes
  • General Property Information Carport YN2: No
  • Utilities Water Available: Yes
  • Utilities Propane3: Yes
  • Lot Features Historic Area: Yes
  • General Property Information Number Of Units Total2: 8.0
  • Gross Scheduled Income: 81240.0
  • Income And Expenses Operating Expense: 24675.0
  • Cooling WallWindow Unit(s): Yes
  • Utilities Sewer Connected: Yes
  • Owner Pays:Sewer2: Yes
  • Utilities Separate Electric Meters: Yes
  • General Property Information:Pool Private YN: No
  • Special Features: VirtualTour
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Tile, Wood
  • Appliances: Gas Range, Refrigerator
  • ResoLivingAreaSource: Other
  • Appliances:Gas Range: Yes

Exterior Features

  • Pool Features: None
  • Roof: Membrane
  • Acres: 0.2
  • Pool Private: No
  • Waterfront: No
  • Construction Type: Frame, Stucco, Wood Siding
  • Construction Materials:Stucco: Yes
  • Construction Materials:Frame: Yes
  • Construction Materials:Wood Siding: Yes
  • ConstructionSiding:Roof Membrane: Yes
  • Lot Features:Few Trees: Yes

Garage/Parking

  • Attached Garage: No
  • Parking Features: Assigned
  • Total Parking Spaces: 8.0
  • General Property Information:Garage YN: No
  • Parking Features:Assigned: Yes
  • General Property Information:Parking Total: 8.0
  • General Property Information:Open Parking Spaces2: 8.0

Utilities

  • Cooling: Central Air, Wall/Window Unit(s)
  • Utilities: Sewer Connected, Water Available, Propane, Separate Electric Meters
  • 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: Johnson

Lot Info

  • Lot Size Sq Ft: 8712.0
  • ResoLotSizeUnits: Acres
  • Parcel #: 27-37-16-25-00008.0-0014.00
  • ResoLotSizeUnits: Acres

Rental Info

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

Tax Info

  • Tax Year: 2022
  • Tax Annual Amount: 7390.99

Multi Family

  • Number Of Units Total: 8
  • Annual Operating Expense: 24675.0
  • Income And Expenses Net Operating Income: 56565.0

MLS Schools

  • Elementary School: Creel
  • High School: Eau Gallie

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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 Prior Sale
08/19/2023 08/19/23 Sold $900,000 -8.6% $152 / Sq Ft
07/28/2023 07/28/23 Pending -- -- --
07/25/2023 07/25/23 For Sale $985,000 +126.4% $166 / Sq Ft
12/04/2020 12/04/20 Sold $435,000 -12.1% $73 / Sq Ft View Prior Sale
10/31/2020 10/31/20 Pending -- -- --
10/26/2020 10/26/20 For Sale $495,000 +37.5% $84 / Sq Ft
04/12/2018 04/12/18 Sold $360,000 -16.3% $61 / Sq Ft View Prior Sale
03/12/2018 03/12/18 Pending -- -- --
03/09/2018 03/09/18 For Sale $429,900 0.0% $73 / Sq Ft
02/26/2018 02/26/18 Pending -- -- --
02/23/2018 02/23/18 For Sale $429,900 0.0% $73 / Sq Ft
12/22/2012 12/22/12 Rented $475 0.0% --
12/13/2012 12/13/12 Under Contract -- -- --
12/03/2012 12/03/12 For Rent $475 -5.0% --
02/01/2012 02/01/12 Rented $500 +11.1% --
01/24/2012 01/24/12 Under Contract -- -- --
11/18/2011 11/18/11 For Rent $450 -- --
Source: Space Coast MLS (Space Coast Association of REALTORS®)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Shey Anderson

    Seller's Agent in 2023

    Shey Anderson

    JM Real Estate

    (321) 749-8921

    5 in this area

    8 Total Sales

    Shey Anderson
    Section Image

  • R

    Seller Co-Listing Agent in 2023

    Rob Solito

    JM Real Estate

    Section Image
  • David Curri

    Buyer's Agent in 2023

    David Curri

    David Curri Real Estate Group

    (321) 300-5409

    7 in this area

    72 Total Sales

    David Curri
    Section Image
  • Steve Harrington

    Seller's Agent in 2020

    Steve Harrington

    Florida Property Center

    (321) 759-5533

    69 Total Sales

    Steve Harrington
    Section Image

  • P

    Seller's Agent in 2018

    Phil Rooney

    Edwards Realty Inc.

    Section Image

  • S

    Seller Co-Listing Agent in 2018

    Sandra Rodriguez

    Edwards Realty Inc.

See All Agents

Map

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

MLS Number: 970834

Space Coast MLS (Space Coast Association of REALTORS®)
Florida Brevard County Melbourne 32935

1838 Pineapple Ave, Melbourne, FL

Not Listed for Sale

MultiFamily

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