NOT LISTED FOR SALE

1838 Pineapple Ave Melbourne, FL 32935

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

Sale Details

Date Sold: August 19, 2023

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

2 Days on Market

Highlights

  • In a Historic District
  • No HOA
  • Wood Siding
  • Wood Flooring
  • Central Air

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

Waterman Real Estate Inc. License #3435883 Listed on: 07/25/2023

Waterman Real Estate Inc.

Co-Listed By

Rob Solito

JM Real Estate License #3346024

Last Buyer's Agent

David Curri

David Curri Real Estate Group License #3093601

David Curri Real Estate Group
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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

  • 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

8,712 Sq Ft Lot

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

Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Agents Specializing in Melbourne, FL

  • Eugene Crockett Real Estate Agent - EXP Realty LLC

    Eugene Crockett

    EXP Realty LLC

    (321) 450-3764

    249 Total Sales

    29 in Melbourne

    $70K - $767K Price Range

    Eugene Crockett
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  • Kellie Bowling Real Estate Agent - Compass Florida LLC

    Kellie Bowling

    Compass Florida LLC

    (321) 334-2801

    143 Total Sales

    17 in Melbourne

    $210K - $769K Price Range

    Kellie Bowling
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  • Brianne Heath Real Estate Agent - AML Real Estate Services

    Brianne Heath

    AML Real Estate Services

    (321) 336-5991

    48 Total Sales

    8 in Melbourne

    $126K - $624K Price Range

    Brianne Heath
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  • Marlynn Simmons Real Estate Agent - Real Broker LLC

    Marlynn Simmons

    Real Broker LLC

    (321) 541-4312

    101 Total Sales

    13 in Melbourne

    $175K - $1.1M Price Range

    Marlynn Simmons
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  • Andy Noel Real Estate Agent - Real Estate Direct of Florida

    Andy Noel

    Real Estate Direct of Florida

    (321) 616-8897

    39 Total Sales

    12 in Melbourne

    $140K - $600K Price Range

    Andy Noel
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  • Ana Leticia Dos Santos Real Estate Agent - LoKation

    Ana Leticia Dos Santos

    LoKation

    (424) 279-6140

    44 Total Sales

    4 in Melbourne

    $260K - $285K Price Range

    Ana Leticia Dos Santos
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Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 -- $73 / Sq Ft
Source: Space Coast MLS (Space Coast Association of REALTORS®)

Agents Affiliated with this Home

  • Shey Anderson Real Estate Agent - Waterman Real Estate Inc.

    Seller's Agent in 2023

    Shey Anderson

    Waterman Real Estate Inc.

    (321) 749-8921

    6 Total Sales

    Shey Anderson
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  • RS

    Seller Co-Listing Agent in 2023

    Rob Solito

    JM Real Estate

    Section Image
  • David Curri Real Estate Agent - David Curri Real Estate Group

    Buyer's Agent in 2023

    David Curri

    David Curri Real Estate Group

    (321) 462-1978

    135 Total Sales

    David Curri
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  • Steve Harrington Real Estate Agent - Florida Property Center

    Seller's Agent in 2020

    Steve Harrington

    Florida Property Center

    (321) 759-5533

    60 Total Sales

    Steve Harrington
    Section Image

  • PR

    Seller's Agent in 2018

    Phil Rooney

    Edwards Realty Inc.

    Section Image

  • SR

    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

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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