Here is a Multi-Family cash-flow less than a mile from the Indian River and a quick ride to Indialantic Beach. This is one long parcel with five units. There are Four 2/1’s and One – 1/1. The 2/1’s have been renting for $600 and the 1/1 was renting for $400. However, current rental rates show that the 2/1’s could be raised to $650-$700 per month.
Each unit has central AC and are between 4-5 years old. The 5 units are on individual meters for electrical. The electrical was inspected and had no issues. The roof is about 3 years old, The bathrooms just need minor updating, kitchen appliances are about 5 years old, all 2/1 units have ceramic tile and the 1/1 is title and concrete.