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Description
Prime Investment Opportunity in Melbourne!This unique property offers strong upside for investors and builders alike. The rear home (2513) is already cash flowing, featuring 2 bedrooms and 2 bathrooms with an in-place tenant paying $1,475/month, providing immediate income.The front home (2511) offers significant value-add potential and is being sold primarily for land value, with options to renovate using existing plans for a 3/2 layout or redevelop the site. Full permits and plans have been submitted to the city for improvements to the rear property.Whether you choose to hold for income, renovate, or explore future redevelopment, this property presents a rare opportunity just under one mile from the ocean in a highly desirable area. A versatile investment with both current returns and long-term potential.
Property Highlights
Property Type: Residential - Single Family
Cooling: Other
Heating: Other
Lot Size: 0.18 Acres
Roof Type: Other
Stories: 1.0
Taxes: $1,319
Year Built: 1930
General Information
Bedrooms: 5
Bathrooms: 4 Full 1 Half
Sqft: 2,607
County: Brevard
Subdivision: TOWN/HOPARKINS
Listed By:
Laura Auten
ELEVATE REALTY LLC
561-427-3923
MLS ID: A4684029
Amenities
Other
Other
Room Information
Primary Bedroom: 12x14
Living Room: 16x14
Kitchen: 10x8
Property Features
Appliances: Other
Days on Site: 6
Directions: Turn right onto Malabar Rd SE/FL-514 toward Malabar, Turn left onto Babcock St NE/FL-507/County Hwy-507, Follow Babcock St NE/FL-507/County Hwy-507, Turn right onto E University Blvd, Turn left onto Lipscomb St
Exterior: Stucco
Flood Zone Code: X
Flooring: Other
Foundation: Crawlspace, Other
Home Warranty Y/N: No
Listing Terms: Cash, Conventional, VA Loan
Lot Dimensions: 0.18
Ownership: Fee Simple
Property Attached Y/N: No
Property Sub-Type: Single Family Residence
Sewer: Public Sewer
Showing Instructions: ShowingTime
Special Sale Provisions: None
Utilities: Other
Water: Public
Water Access Y/N: No
Zoning: C1
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2513 Lipscomb Street , Melbourne, FL 32901.
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Estimated Payment
$ 797.01 per month $632.41 Principal & Interest $109.92 Property Tax $54.69 Homeowner's InsuranceChange Payment Information
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