704 E Lincoln Avenue Melbourne, FL 32901
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 TypeMulti-Family
- NeighborhoodCamps Plat of Melbourne
- CountyBrevard
- Taxes$7,074
- HOA/Condo/Coop Fees$0
- Days on Site15 Days
- MLS StatusActive
- MLS ID NumberO6242336
- Home Size Source Public Records
- Year Built1926
- Lot Size0.2 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Construction BlockStucco
- Sewer Public Sewer
- Acreage 0.2
- Water Public
- Property Sub Type Quadruplex
- Utilities Cable Available
- Foundation Slab
- Zoning C1
- Ownership Fee Simple
- Parcel Number 28 3703-FC-36-14
Interior Features
- Cooling Central AirZoned
- Heating CentralZoned
- Flooring Ceramic TileWood
- Interior Ceiling Fans(s)Window Treatments
- Laundry Features None
- Fireplace Yes
Exterior Features
- Roof Other
- Waterfront Property No
- Exterior Sidewalk
Community Features
- Township 28
- Senior Community No
- MLS Area 32901 - Melbourne