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26713995
26713994

619 Peachtree St, Cocoa, FL 32922

RG
FL FL 3277603
The Goldstein Group
The Goldstein Group
Listed by The Goldstein Group
$1,625,000
295 days on market
Updated 52 days ago
Opportunity zone

The Dolphin Apartments at Cocoa

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 9,978
Net Rentable (SqFt) 9,978
Units 14
Cap Rate 6.66%
NOI $108,247
Occupancy 100%
Pro-Forma Cap Rate 9.46%
Pro-Forma NOI $153,666
Class C
Year Built 1966
Year Renovated 2023
Buildings 3
Stories 2
Acreage 1.170
Zoning Multifamily
Parking Spaces 20 spaces
Parking Per SqFt 2.00
Investment Type Value Add
Ownership Fee simple

Multifamily | 14 Units | $116,071/door

Marketing description

Located on a large 1.17 acre lot that includes 13 Multifamily units and one single family home, close to everything that the
surrounding area has to offer, The Dolphin Apartments bring coastal living on Florida’s Space Coast to affordable levels, making
it a prime investment opportunity for any multifamily investor interested in the Florida Market.


Only blocks from beautiful Indian River Drive (lined with high end coastal homes), and the shore of the Indian River, these 13
updated multifamily units plus an additional single family home, feature off-street parking, an on-site office, extensive
greenspace, and attractive, spacious unit layouts.
The location also ensures easy access to quality jobs, retail establishments, casual to fine dining, entertainment, and more!


Nearby commerce and job opportunities are rich and plentiful. The area is famously home to Cape Canaveral and Kennedy Space
Center, as well as a host of industrial, retail, and service businesses of all kinds. Commercial and private spaceflight continues
to be a fast growing industry that employs people at all skill levels and walks of life.


The Dolphin Apartments also feature full Concrete Block/Brick construction with a recently replaced, high quality sloped/gable
roof.


The site is also very much under-managed, offering an incoming investor massive upside for this unique and ideal location (see
aerials).
Across the water is Cocoa Beach, one of Florida’s premier vacation and beach destinations, and offering residents access to the
Atlantic Coast easily and affordably. The surrounding area offers a unique mix of recreation for all kinds of interests including
fishing, boating, beach-going, nightlife, museums, and much more!


Brevard County, Florida is known for being a center of innovation and growth, while maintaining a quiet,
coastal suburban feel that makes the area infinitely appealing to residents and investors alike.

Listing Contacts

RG
FL FL 3277603
The Goldstein Group
The Goldstein Group
Listed by The Goldstein Group

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$108,247.00
$9,020.58/mo

Valuation Metrics

0
DSCR
6.66%
Cap Rate
6.66%
ROI

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Additional Information

Name
Russell Goldstein
License
FL 3277603
Brokerage
MRG Associates LLC
Brokerage Phone
5615033648
Title
Broker
Brokerage Address
2374 Byron Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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