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.
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.
Features
Building and Construction
Covered Spaces: 0.00
Exterior Features: Other
Flooring: Other
Living Area: 2607.00
Roof: Other
Garage and Parking
Garage Spaces: 0.00
Open Parking Spaces: 0.00
Eco-Communities
Water Source: Public
Utilities
Carport Spaces: 0.00
Cooling: Other
Heating: Other
Sewer: Public Sewer
Utilities: Other
Finance and Tax Information
Home Owners Association Fee: 0.00
Insurance Expense: 0.00
Net Operating Income: 0.00
Other Expense: 0.00
Tax Year: 2025
Other Features
Appliances: Other
Country: US
Furnished: Unfurnished
Interior Features: Other
Legal Description: HOPKINS PLAT PART OF LOT 12 BLK 3 AS DESC IN ORB 1313 PG 1028 EXC RD R/W
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