10% CAP Rate Potential Sold

  • $179500
  • 5 beds
  • 3 baths
  • 1759 sqft

Two living spaces in one! The main house has 4 bedrooms (2 are connecting rooms), 2 full baths, and an open concept living area.  The in-law-suite/studio apartment is wood frame and has its own kitchen and full bath. Use it as a mother-in-law suite, rental unit, or Airbnb! Moving one interior door will make split it into a 3/2 main house & 1/1 apartment with larger living quarters. Almost new stainless appliances & gas water heater, 8 year old roof, updated Square D electrical panel, recently serviced solid AC.  This home is on a corner lot and has a large fenced in yard with palms and flowering trees.

**The house has cast iron pipes which will need to be replaced soon. Quote and video are available.**

The main house could be rented for $1400/mo and the Studio Apt for $900.  CAP rate near 10%!  Occupied until July 13th. Contact us to schedule a showing. (2 hrs notice requested.)

2027 Wallace Ave
Melbourne, FL 32935
Square Feet:
Lot Size:
.2 acrea
For Sale
Property Type:
Year Built:
Const. Type:
Block with Wood Frame additions
MLS #:

Additional Features

1 car garage

Call (321) 914-5546 for more details

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