7521 Magnolia Avenue, Cape Canaveral, FL 32920
$375,000
Property Type:
Residential Income
Square Footage:
4,906
Lot Size (sq. ft.):
6,970
Status:
Closed
Current Price:
$375,000
List Date:
1/16/2019
Last Modified:
5/10/2026
Overview
Description
Incredible concrete block multifamily investment opportunity only 2 blocks from the beach, 1 mile from Port Canaveral, and 1 mile to the Cocoa Beach Pier. High demand rental area with several new developments in the planning and construction stages nearby. Next to the city park, and 1 block from the library.
Building is currently gutted and boarded, with level 3 rehab required to bring it up to code. Two new roofs complete, but a new permit must be issued. One smaller shingle section still needs repair. $167,261.00 code enforcement judgement, and 5 years back-taxes in the amount of $26,810.42 will be paid from proceeds at closing. Repair estimates range from $150,000 - $300,000. Gross potential rent - approximately $90,000. After repair value - approximately $900,000.
Listing Details MLS# 834314
General Property Information
- Number Of Units Total
- 8
- Living Area
- 4906
- Living Area Source
- Public Records
- Building Area Total
- 4906
- Year Built
- 1962
- Garage YN
- No
- Carport YN
- No
- Parking Total
- 14
- Lot Size Acres
- 0.16
- Lot Size Square Feet
- 6970
- Association YN
- No
- Water Body Access YN
- No
- Waterfront YN
- No
- Pool Private YN
- No
- List Price/SqFt
- 76.44
- Sold Price/SqFt
- 76.44
- Garage Spaces
- 0
- Carport Spaces
- 0
Property Features
Appliances:
Other
Construction Materials:
Block; Concrete; Stucco
Flooring:
Other
Listing Terms:
Cash; Conventional
Owner Pays:
Other
Pool Features:
None
Road Surface Type:
Paved
Roof:
Membrane; Shingle
Special Listing Conditions:
Standard
Utilities:
Electricity Connected; Sewer Connected; Water Available
Showing Requirements:
Call Listing Office
Contract Information
- Original List Price
- 399000
- Listing Contract Date
- 2019-01-16
- Property Sub Type
- Multi Family
Location Tax and Legal
- Street Number
- 7521
- Street Name
- Magnolia
- Street Suffix
- Avenue
- County
- Brevard
- State
- FL
- Postal Code
- 32920
- MLS Area Major
- 271 - Cape Canaveral
- Subdivision Name
- Avon By The Sea
Remarks and Miscellaneous
- Public Remarks
- Incredible concrete block multifamily investment opportunity only 2 blocks from the beach, 1 mile from Port Canaveral, and 1 mile to the Cocoa Beach Pier. High demand rental area with several new developments in the planning and construction stages nearby. Next to the city park, and 1 block from the library. Building is currently gutted and boarded, with level 3 rehab required to bring it up to code. Two new roofs complete, but a new permit must be issued. One smaller shingle section still needs repair. $167,261.00 code enforcement judgement, and 5 years back-taxes in the amount of $26,810.42 will be paid from proceeds at closing. Repair estimates range from $150,000 - $300,000. Gross potential rent - approximately $90,000. After repair value - approximately $900,000.
Status Change Information
- Major Change Timestamp
- 2023-11-11T03:44:59Z
- Major Change Type
- Price Reduced
- Price Change Timestamp
- 2019-04-02T13:48:58Z
- Status Change Timestamp
- 2019-04-02
- Purchase Contract Date
- 2019-02-19
- Close Date
- 2019-03-27
- Close Price
- 375000
More Information
Historical Information
- Public Historical Remarks 3
- Style-Other - Call Agent: Y, Number of Buildings: 2 Buildings
Location, Tax, and Legal
- Tax Account
- 2434102
- Parcel Number
- 24-37-23-Cg-00043.0-0015.01
- General County Location
- Central
- Elementary School
- Cape View
- Middle School
- Cocoa Beach
- High School
- Cocoa Beach
- Tax Annual Amount
- 5196.4
- Tax Year
- 2018
- Tax Legal Description
- AVON BY THE SEA LOT 15 EX N 50 FT & LOT 16 EX N 50 FT BLK 43
- Directions
- From Hwy A1A, go 3 blocks south on Tyler Avenue, and make a right on Magnolia. Property is on the corner of Magnolia and Polk.
Appliances
- Other
- Yes
Construction Materials
- Block
- Yes
- Concrete
- Yes
- Stucco
- Yes
Flooring
- Other
- Yes
Listing Terms
- Cash
- Yes
- Conventional
- Yes
Pool Features
- None
- Yes
Income and Expenses
- Gross Income
- 0
- Gross Scheduled Income
- 0
- Net Operating Income
- 0
- Operating Expense
- 0
Owner Pays
- Other
- Yes
Road Surface Type
- Paved
- Yes
Roof
- Membrane
- Yes
- Shingle
- Yes
Special Listing Conditions
- Standard
- Yes
Utilities
- Electricity Connected
- Yes
- Sewer Connected
- Yes
- Water Available
- Yes
Showing Requirements
- Call Listing Office
- Yes
Listing Office:
Housing Market LLC
Last Updated: May - 10 - 2026
Information is deemed to be reliable, but is not guaranteed.