This property presents an outstanding investment opportunity in a prime location adjacent to Florida Tech University and just minutes from historic downtown Melbourne. With nearly $4.2 million recently invested in capital improvements, the need for immediate expenditures is minimized, allowing investors to focus on future value enhancement.
The property boasts a comprehensive range of amenities, including resort-style pools, a summer kitchen, and various recreational areas, which enhance its appeal. There is significant potential to increase rents, as current rates are $363 below market comps, and the option to upgrade units and install washers/dryers offers additional revenue opportunities. This property is offered free and clear of debt encumbrances, providing investors with a clean slate for financial planning and investment growth.
In summary, this property represents a compelling investment opportunity with substantial value-add potential, excellent location benefits, and a strong tenant demand driven by nearby educational and employment centers. It’s an ideal choice for investors seeking a high-growth asset in a dynamic and promising market.