1328 S Patrick Drive, Satellite Beach, FL 32937
$820,000
Property Type:
Residential Income
Square Footage:
5,936
Lot Size (sq. ft.):
19,166
Status:
Closed
Current Price:
$820,000
List Date:
8/24/2016
Last Modified:
8/06/2026
Overview
Description
12 rental units located in an ideal part of Satellite Beach. The property is situated on .44 acres. Each unit is a 1 bedroom 1 bath with large closets. There is a huge demand for rentals like these in the area!!! Many of the tenants have been there a long, long time and the rents are WELL BELOW MARKET RATES. An 8% return is easily achievable. All railings have been replaced, the building has been painted, and a new permitted ROOF was installed in 2015. This is a most excellent property.
Listing Details MLS# 757144
General Property Information
- Number Of Units Total
- 12
- Living Area
- 5824
- Living Area Source
- Public Records
- Building Area Total
- 5936
- Year Built
- 1962
- Garage YN
- No
- Carport YN
- No
- Lot Size Acres
- 0.44
- Lot Size Square Feet
- 19166
- Lot Size Dimensions
- 128.0 ft x 150.0 ft
- Association YN
- No
- Water Body Access YN
- No
- Waterfront YN
- No
- Pool Private YN
- No
- List Price/SqFt
- 171.53
- Sold Price/SqFt
- 140.8
- Garage Spaces
- 0
- Carport Spaces
- 0
Property Features
Appliances:
Other
Construction Materials:
Block; Concrete
Cooling:
Wall/Window Unit(s)
Flooring:
Carpet; Terrazzo
Levels:
Two
Listing Terms:
Cash; Conventional
Owner Pays:
Cable TV; Electricity; Insurance; Pest Control; Repairs; Sewer; Taxes; Trash Collection; Water
Pool Features:
None
Possession:
Close Of Escrow
Roof:
Membrane
Special Listing Conditions:
Standard
Utilities:
Cable Available; Electricity Connected; Separate Electric Meters; Sewer Connected; Water Available
Water Source:
Public
Contingency Reason:
Other
Showing Requirements:
Appointment Only; Call Listing Office
Contract Information
- Original List Price
- 1100000
- Listing Contract Date
- 2016-06-13
- Property Sub Type
- Multi Family
Location Tax and Legal
- Street Number
- 1328
- Street Direction Prefix
- S
- Street Name
- Patrick
- Street Suffix
- Drive
- County
- Brevard
- State
- FL
- Postal Code
- 32937
- MLS Area Major
- 382-Satellite Bch/Indian Harbour Bch
- Subdivision Name
- Satellite Beach Isles
Remarks and Miscellaneous
- Public Remarks
- 12 rental units located in an ideal part of Satellite Beach. The property is situated on .44 acres. Each unit is a 1 bedroom 1 bath with large closets. There is a huge demand for rentals like these in the area!!! Many of the tenants have been there a long, long time and the rents are WELL BELOW MARKET RATES. An 8% return is easily achievable. All railings have been replaced, the building has been painted, and a new permitted ROOF was installed in 2015. This is a most excellent property.
Status Change Information
- Major Change Timestamp
- 2023-11-11T03:44:26Z
- Major Change Type
- Price Reduced
- Price Change Timestamp
- 2016-09-08T19:46:32Z
- Status Change Timestamp
- 2016-12-13
- Contingency
- Active Under Contract
- Purchase Contract Date
- 2016-10-14
- Close Date
- 2016-12-13
- Close Price
- 820000
More Information
Income and Expenses
- Gross Scheduled Income
- 69900
- Net Operating Income
- 46704
- Operating Expense
- 23196
- Gross Income
- 0
Historical Information
- Public Historical Remarks 3
- Number of Buildings: 1 Building
Location, Tax, and Legal
- Tax Account
- 2612062
- Parcel Number
- 26-37-34-75-0000b.0-0001.00
- General County Location
- South
- Elementary School
- Surfside
- Middle School
- DeLaura
- High School
- Satellite
- Tax Annual Amount
- 4106.51
- Tax Year
- 2015
- Tax Legal Description
- SATELLITE BEACH ISLES LOT 1 BLK B
- Directions
- Located at the intersection of South Patrick Drive and Island Drive which is just north of the Satellite Beach Fire Department.
Appliances
- Other
- Yes
Construction Materials
- Block
- Yes
- Concrete
- Yes
Cooling
- Wall/Window Unit(s)
- Yes
Flooring
- Carpet
- Yes
- Terrazzo
- Yes
Levels
- Two
- Yes
Listing Terms
- Cash
- Yes
- Conventional
- Yes
Pool Features
- None
- Yes
Possession
- Close Of Escrow
- Yes
Owner Pays
- Cable TV
- Yes
- Electricity
- Yes
- Insurance
- Yes
- Pest Control
- Yes
- Repairs
- Yes
- Sewer
- Yes
- Taxes
- Yes
- Trash Collection
- Yes
- Water
- Yes
Roof
- Membrane
- Yes
Special Listing Conditions
- Standard
- Yes
Utilities
- Cable Available
- Yes
- Electricity Connected
- Yes
- Separate Electric Meters
- Yes
- Sewer Connected
- Yes
- Water Available
- Yes
Water Source
- Public
- Yes
Showing Requirements
- Appointment Only
- Yes
- Call Listing Office
- Yes
Contingency Reason
- Other
- Yes
Listing Office:
RE/MAX Aerospace Realty
Last Updated: August - 06 - 2026
Information is deemed to be reliable, but is not guaranteed.