16 South Street, Rockledge, FL 32955

$1,950,000
Property Type: Residential Income Bedrooms: 22 Baths: 20 Square Footage: 8,600 Lot Size (sq. ft.): 15,682 Status: Active
Current Price: $1,950,000 List Date: 5/03/2025 Last Modified: 2/11/2026

Description

Prime Multifamily Investment Opportunity in Rockledge - Just a Short Walk to Cocoa Village! This fully occupied, income-generating property offers an excellent investment opportunity with two buildings on one lot, totaling 20 units. Located in the highly desirable Rockledge area, just a short walk to the vibrant Cocoa Village, this property is highly sought after by tenants and investors alike. The complex consists of a 16-unit building and a 4-unit building, with a mix of unit types: 8 studio apartments, 10 1-bedroom/1-bath units, and 2 spacious 2-bedroom/1-bath units. These well-maintained units cater to a variety of tenants, ensuring consistent demand and reliable income. The property also boasts ample parking, on-site coin laundry, a storage shed, and welcoming common areas with balconies and seating. Completely refurbished in 2008 and with a new roof installed on both buildings in 2023, this property has been meticulously cared for.

Supplements: The strong rental demand in this desirable location makes it an outstanding addition to any real estate portfolio. Don't miss out on this incredible opportunity to own a thriving multifamily complex in one of Brevard County's most charming neighborhoods!

More Information MLS# 1039226

Location, Tax, and Legal

Tax Account: 2426419 Parcel Number: 24-36-33-81-00000.0-0063.00 General County Location: Central Elementary School: Tropical Middle School: McNair High School: Rockledge Tax Annual Amount: 16138.1 Tax Year: 2024 Tax Legal Description: DERBYS ADDN TO COCOA LOTS 63, 64 Directions: From US1/Rosa L. Jones Dr, head east on Rosa L. Jones, make a slight right on to Oak St, turn south on South St. and arrive at property on the left.

General Property Information

Number Of Buildings: 2 Number Of Units Total: 20 Stories Total: 2 Bathrooms Half: 0 Living Area: 8200 Living Area Source: Public Records Building Area Total: 8600 Lot Size Acres: 0.36 Lot Size Square Feet: 15682 Association YN: No New Construction YN: No Garage YN: No Carport YN: No Senior Community YN: No Water Body Access YN: No Stories: 2 Direction Faces: West Pool Private YN: No List Price/SqFt: 237.8 Bedrooms Total: 22 Bathrooms Total: 20 Bathrooms Full: 20 Year Built: 1925

Remarks and Miscellaneous

Public Remarks: Prime Multifamily Investment Opportunity in Rockledge - Just a Short Walk to Cocoa Village! This fully occupied, income-generating property offers an excellent investment opportunity with two buildings on one lot, totaling 20 units. Located in the highly desirable Rockledge area, just a short walk to the vibrant Cocoa Village, this property is highly sought after by tenants and investors alike. The complex consists of a 16-unit building and a 4-unit building, with a mix of unit types: 8 studio apartments, 10 1-bedroom/1-bath units, and 2 spacious 2-bedroom/1-bath units. These well-maintained units cater to a variety of tenants, ensuring consistent demand and reliable income. The property also boasts ample parking, on-site coin laundry, a storage shed, and welcoming common areas with balconies and seating. Completely refurbished in 2008 and with a new roof installed on both buildings in 2023, this property has been meticulously cared for.

Closing Company Details

Closing Company Name: Dockside Title Merritt Island Closing Company Address: 380 S Courtenay Pkwy, Merritt Island, FL 32952

Construction Materials

Frame: 1

Cooling

Individual: 1 Split System: 1 Wall/Window Unit(s): 1

Current Use

Multi-Family: 1

Heating

Varies by Unit: 1

Laundry Features

Common Area: 1

Listing Terms

Cash: 1 Conventional: 1 Owner May Carry: 1 Private Financing Available: 1 Other: 1

Other Structures

Shed(s): 1

Possession

Close Of Escrow: 1

Financial Data Source

Owner: 1

Income and Expenses

Gross Income: 189600 Net Operating Income: 144670

Income Includes

Rent Only: 1

Road Frontage Type

City Street: 1

Road Surface Type

Paved: 1

Roof

Shingle: 1

Sewer

Public Sewer: 1

Special Listing Conditions

Standard: 1

Unit 1 Details

Unit ID: 1-2 Actual Rent: 1000 Unit SqFt: 0 Beds Total: 4 Full Baths Total: 20 Furnished: Unfurnished Unit Remarks: Bldg 16 2 bedroom x 2 units

Unit 2 Details

Unit ID: 2-4 Actual Rent: 900 Unit SqFt: 0 Beds Total: 2 Furnished: Unfurnished Unit Remarks: Bldg 16 1 bedroom x 2 units

Unit 3 Details

Unit ID: 1-8 Actual Rent: 800 Unit SqFt: 0 Beds Total: 8 Furnished: Unfurnished Unit Remarks: Bldg 22 8 1 bedroom units

Unit 4 Details

Unit ID: 9-16 Actual Rent: 700 Unit SqFt: 0 Beds Total: 8 Furnished: Unfurnished Unit Remarks: Bldg 22 8 studio units

Unit 5 Details

Unit ID: 0 Actual Rent: 0 Unit SqFt: 0 Furnished: Unfurnished Unit Remarks: 0

Unit 6 Details

Unit ID: 0 Actual Rent: 0 Unit SqFt: 0 Furnished: Unfurnished Unit Remarks: 0

Unit 7 Details

Unit ID: 0 Actual Rent: 0 Unit SqFt: 0 Furnished: Unfurnished Unit Remarks: 0

Unit 8 Details

Unit ID: 0 Actual Rent: 0 Unit SqFt: 0 Furnished: Unfurnished Unit Remarks: 0

Utilities

Electricity Connected: 1 Separate Electric Meters: 1 Sewer Connected: 1 Water Connected: 1

Water Source

Public: 1

Showing Requirements

Call Listing Agent: 1 Listing Agent Must Accompany: 1 No Sign: 1

Contract Information

Current Price: $1,950,000 Original List Price: 2000000 List Price: $1,950,000 Status: Active Listing Contract Date: 2025-03-06 Property Sub Type: Multi Family

Location Tax and Legal

Street Number: 16 Street Name: South Street Suffix: Street County: Brevard State: FL Postal Code: 32955 MLS Area Major: 213 - Mainland E of US 1 Subdivision Name: Derbys Addn To Cocoa

Status Change Information

Major Change Timestamp: 2025-10-16T18:05:15Z Major Change Type: Price Reduced Price Change Timestamp: 2025-10-16T18:05:15Z Status Change Timestamp: 2025-05-03

Property Features

Construction Materials: Frame Cooling: Individual; Split System; Wall/Window Unit(s) Current Use: Multi-Family Financial Data Source: Owner Heating: Varies by Unit Income Includes: Rent Only Laundry Features: Common Area Listing Terms: Cash; Conventional; Owner May Carry; Private Financing Available; Other Other Structures: Shed(s) Possession: Close Of Escrow Road Frontage Type: City Street Road Surface Type: Paved Roof: Shingle Sewer: Public Sewer Special Listing Conditions: Standard Utilities: Electricity Connected; Separate Electric Meters; Sewer Connected; Water Connected Water Source: Public Showing Requirements: Call Listing Agent; Listing Agent Must Accompany; No Sign
Listing Office: Blue Marlin Real Estate
Last Updated: February - 11 - 2026
Information is deemed to be reliable, but is not guaranteed.

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