About 1523 Furnari Street
This tri-plex, built in 2006, offers a total base area of 4,130 square feet, averaging approximately 1,376 square feet per unit. Each of the three units features three bedrooms and two bathrooms. The property is currently generating $2,200 per month in rental income. Two of the units are occupied by long-term tenants, one of whom has lived there for 14 years and the other for 3 years, providing a stable rental history. The Tri-plex is part of a larger package deal, with the seller offering all properties for $4,500,000. Currently, one tri-plex is generating $4,400 per month in rental income, while the duplex is listed at $2,500 per month per unit. All 10 lots are zoned for multi-family use (R-2 / 250), and the north side of Furnari Street has already been filled and prepped for development. With septic, a new owner can build 28 units, and with sewer, the potential increases to 46 units. The road is county-owned and scheduled to be paved, representing an added value of approximately $750,000. Waterlines are already in place, and key permits from DOT, Cocoa City, and the county have been secured. This is a unique investment opportunity in a rapidly growing area, and the photos truly speak for themselves. The total sale includes one tri-plex, one duplex, and ten lots that are prepped and ready for multi-family development. The building and developing plans are included with the purchase of this package.
