825 University BlvdMelbourne, FL 32901

Property Details for 825 University Blvd

Year built

1964

Property type

Residential income properties

Property subtype

Multifamily properties

Description

Jasmine Cove, located at 825 E University Blvd, Melbourne, FL 32901, is a 42-unit apartment building constructed in 1964. This multifamily property presents a compelling value-add investment opportunity. The property consists entirely of two-bedroom, one-bathroom townhome-style units, offering a favorable and consistent unit mix. Significant capital expenditures exceeding $1,000,000 have been completed since 2020, enhancing the property's condition and appeal. A substantial rental upside potential of $200 or more per unit exists based on comparable properties in the area. Jasmine Cove benefits from its prime location, just minutes away from Melbourne Beach, Downtown Melbourne, Florida Institute of Technology, and major employment centers, ensuring strong tenant demand. While additional capital expenditure opportunities are available, the most significant potential for value enhancement lies in operational improvements. This property offers investors a chance to capitalize on both immediate rental increases and long-term operational efficiencies in a highly desirable location.

Location Insight

City

Melbourne

County

Brevard

State

Florida

Latitude

28.0637

Longitude

-80.6059

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