UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Pending
Purchase Type For Sale
Square Footage 2,607 sqft
Price per Sqft $68
MLS Listing ID 1070455
Bedrooms 5
Full Baths 4
Half Baths 1
HOA Y/N No
Total Fin. Sqft 2607
Year Built 1930
Annual Tax Amount $1,319
Tax Year 2025
Lot Size 7,841 Sqft
Acres 0.18
Property Sub-Type Single Family Residence
Source Space Coast MLS (Space Coast Association of REALTORS®)
Property Description
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.
Location
State FL
County Brevard
Area 999 - Out Of Area
Direction 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
Rooms
Primary Bedroom Level Main
Living Room Main
Kitchen Main
Interior
Heating Other
Cooling Other
Furnishings Unfurnished
Appliance None
Exterior
Exterior Feature ExteriorFeatures
Parking Features Other
Utilities Available Other
Present Use Single Family
Garage No
Private Pool No
Building
Lot Description Other
Faces West
Story 1
Sewer Public Sewer
Water Other
New Construction No
Schools
Elementary Schools Harbor City
High Schools Melbourne
Others
Senior Community No
Tax ID 28-37-11-Fj-00003.0-0012.01
Acceptable Financing Cash, Conventional, VA Loan
Listing Terms Cash, Conventional, VA Loan
Special Listing Condition Standard
NEARBY SCHOOL & BUSINESS
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Jon Penny
Team Leader-Broker Associate | License ID: BK3055942
Team Leader-Broker Associate License ID: BK3055942