704 E LINCOLN AVE, MELBOURNE, FL, 32901
$784,500
Residential Income
|
Living Area
2,619 Sqft
|
Lot Size
8,712 Sqft
|
PRICE IMPROVEMENT! TURN-KEY vacation rental investment opportunity 2 blocks from Historic Downtown. Operated as a professionally managed STR since 2018, the Lincoln Guest House has broad appeal to vacationers, students and professionals. This Spanish Colonial quadraplex apartment offers four one-bedroom/one-bath apartments metered separately. The units are fully furnished and thoughtfully decorated with a mix of modern aesthetic and old-Florida charm. The quad is within walking distance of restaurants, bars, shops with Indialantic beaches just over the causeway and easy access to US1 and A1A. Established STR operation with high occupancy currently listed on Airbnb, VRBO, direct website and mid-term channels. Professionally managed, property has a long income history, streamlined operations and software stack to optimize occupancy and rates. This is a great passive investment opportunity, turnkey self-managed STR or 1031 exchange. Professional management with Superhost status can continue.
Improvements: new roof installed 2023 and 4 high-efficiency ductless AC systems also installed in 2023. Flexible C1 mixed-use zoning.
Gross income of $110,000 (3 yr avg) with very high occupancy and steady income.
Property Details
| Property Features | Property Features | |||
|---|---|---|---|---|
| MLS ID: | MFRO6242336 | Year Built: | 1926 | |
| Construction Materials: | Block, Stucco | Cooling: | Central Air, Zoned | |
| Country: | US | Disclosures: | Lead Paint | |
| Exterior Features: | Sidewalk | Flooring: | Ceramic Tile, Wood | |
| Foundation Details: | Slab | Heating: | Central, Zoned | |
| Laundry Features: | None | Listing Agreement: | Exclusive Right To Sell | |
| Listing Terms: | Cash, Conventional, VA Loan | Occupant Type: | Tenant | |
| Possession: | Close of Escrow | Property Sub Type: | Quadruplex | |
| Property Type: | Residential Income | Road Surface Type: | Asphalt | |
| Roof: | Other | Sewer: | Public Sewer | |
| Showing Requirements: | ShowingTime | Special Listing Conditions: | None | |
| Standard Status: | Active | State Or Province: | FL | |
| Utilities: | Cable Available | Water Source: | Public | |
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