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.
Sold for $900,000 on 08/19/23
$900,000
1838 Pineapple Ave, Melbourne, FL 32935
--beds
--baths
5,924sqft
Multi Family
Built in 1925
-- sqft lot
$-- Zestimate®
$152/sqft
$1,943 Estimated rent
Home value
Not available
Estimated sales range
Not available
$1,943/mo
Zestimate® history
Loading...
Owner options
Explore your selling options
What's special
Zillow last checked: 8 hours ago
Listing updated: April 21, 2025 at 02:20pm
Listed by:
Shey Anderson 321-749-8921,
JM Real Estate
Bought with:
David Curri, 3093601
David Curri Real Estate Group
Source: Space Coast AOR,MLS#: 970834
Facts & features
Interior
Cooling
- Central Air, Wall/Window Unit(s)
Appliances
- Included: Gas Range, Refrigerator
Features
- Flooring: Tile, Wood
- Has fireplace: No
Interior area
- Total structure area: 5,956
- Total interior livable area: 5,924 sqft
Property
Parking
- Total spaces: 8
- Parking features: Assigned
Features
- Levels: Two
- Pool features: None
Lot
- Size: 8,712 sqft
- Features: Few Trees, Historic Area
Details
- Additional parcels included: 2717082
- Parcel number: 2737162500008.00014.00
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Frame, Stucco, Wood Siding
- Roof: Membrane
Condition
- Year built: 1925
Utilities & green energy
- Water: Public
- Utilities for property: Sewer Connected, Water Available, Propane, Separate Electric Meters
Community & neighborhood
Location
- Region: Melbourne
Other
Other facts
- Listing terms: Cash,Conventional
Price history
| Date | Event | Price |
|---|---|---|
| 10/19/2024 | Listing removed | $1,200 |
Source: Zillow Rentals | ||
| 10/7/2024 | Listed for rent | $1,200 |
Source: Zillow Rentals | ||
| 8/19/2023 | Sold | $900,000-8.6%$152/sqft |
Source: Space Coast AOR #970834 | ||
| 7/28/2023 | Contingent | $985,000$166/sqft |
Source: Space Coast AOR #970834 | ||
| 7/25/2023 | Listed for sale | $985,000+126.4%$166/sqft |
Source: Space Coast AOR #970834 | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $13,913 +64.3% | $777,600 +38.5% |
| 2023 | $8,467 +14.6% | $561,600 +12.6% |
| 2022 | $7,391 +16.4% | $498,780 +51.2% |
Find assessor info on the county website
Neighborhood: 32935
Nearby schools
GreatSchools rating
- 3/10Dr. W.J. Creel Elementary SchoolGrades: PK-6Distance: 1 mi
- 3/10Lyndon B. Johnson Middle SchoolGrades: 7-8Distance: 1.5 mi
- 4/10Eau Gallie High SchoolGrades: PK,9-12Distance: 1.2 mi
Schools provided by the listing agent
- Elementary: Creel
- Middle: Johnson
- High: Eau Gallie
Source: Space Coast AOR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
Get pre-qualified for a loan
At Zillow Home Loans, we can pre-qualify you in as little as 5 minutes with no impact to your credit score.An equal housing lender. NMLS #10287.