221 Madison Avenue, Cape Canaveral, FL 32920
$955,000
Property Type:
Residential Income
Bedrooms:
12
Baths:
6
Square Footage:
5,080
Lot Size (sq. ft.):
16,553
Status:
Closed
Current Price:
$955,000
List Date:
4/19/2025
Last Modified:
12/13/2025
Description
RARE OPPORTUNITY 3 BLOCKS TO THE BEACH! A 7-UNIT INVESTMENT PROPERTY! This gem of a property is currently fully occupied with wonderful tenants! A well-maintained multi-family income producing property with each unit having an open floor plan, all tile flooring, all new updated baths, newer kitchens, and every unit is super clean! Peace of mind with a brand-new roof over the entire building, and all cast iron plumbing has been replaced throughout all units! Plenty of parking and storage areas for each unit and there's an on-site coin operated laundry that generates extra income! Location, location, location makes these easy rentals w/no HOA plus only a 5-minute walk to a beach crosswalk, Port Canaveral is a short bike ride away, KSC is only a 20-minute drive, and MCO & theme parks a 35-minute drive! Plenty of shopping & restaurants within walking distance! Collect rents now and bank the land & property for a future project!
More Information MLS# 1043737
Location, Tax, and Legal
Tax Account: 2433598
Parcel Number: 24-37-23-Cg-00020.0-0006.00
General County Location: Central
Elementary School: Cape View
Middle School: Cocoa Beach
High School: Cocoa Beach
Tax Annual Amount: 9509
Tax Year: 2024
Tax Legal Description: AVON BY THE SEA LOT 6 & W 33 1/3 OF LOT 7 ALSO LOT 5 BLK 20
Directions: A1A North from Cocoa Beach turn right onto Madison, complex on the right
General Property Information
Number Of Units Total: 7
Stories Total: 1
Bathrooms Half: 0
Living Area: 5080
Living Area Source: Public Records
Lot Size Acres: 0.38
Lot Size Square Feet: 16553
Association YN: No
New Construction YN: No
Garage YN: No
Carport YN: Yes
Carport Spaces: 4
Open Parking Spaces: 4
Senior Community YN: No
Water Body Access YN: No
Furnished: Unfurnished
Stories: 1
Entry Level: 1
Direction Faces: North
Pool Private YN: No
List Price/SqFt: 236.22
Sold Price/SqFt: 187.99
Bedrooms Total: 12
Bathrooms Total: 6
Bathrooms Full: 6
Year Built: 1964
Remarks and Miscellaneous
Public Remarks: RARE OPPORTUNITY 3 BLOCKS TO THE BEACH! A 7-UNIT INVESTMENT PROPERTY! This gem of a property is currently fully occupied with wonderful tenants! A well-maintained multi-family income producing property with each unit having an open floor plan, all tile flooring, all new updated baths, newer kitchens, and every unit is super clean! Peace of mind with a brand-new roof over the entire building, and all cast iron plumbing has been replaced throughout all units! Plenty of parking and storage areas for each unit and there's an on-site coin operated laundry that generates extra income! Location, location, location makes these easy rentals w/no HOA plus only a 5-minute walk to a beach crosswalk, Port Canaveral is a short bike ride away, KSC is only a 20-minute drive, and MCO & theme parks a 35-minute drive! Plenty of shopping & restaurants within walking distance! Collect rents now and bank the land & property for a future project!
Appliances
Dishwasher: 1
Disposal: 1
Electric Range: 1
Microwave: 1
Refrigerator: 1
Closing Company Details
Closing Company Name: Title Solutions of Florida - Leanne Shufelt-marketpro1@weprocess.pro
Construction Materials
Concrete: 1
Frame: 1
Cooling
Wall/Window Unit(s): 1
Current Use
Investment: 1
Multi-Family: 1
Flooring
Tile: 1
Heating
Individual: 1
Other: 1
Laundry Features
Common Area: 1
Levels
One: 1
Listing Terms
Cash: 1
Conventional: 1
Parking Features
Additional Parking: 1
Assigned: 1
Carport: 1
Varies by Unit: 1
Possession
Close Of Escrow: 1
Financial Data Source
Accountant: 1
Property Manager: 1
Income and Expenses
Gross Income: 74955.25
Operating Expense: 14987.37
Income Includes
Laundry: 1
Owner Pays
Common Area Maintenance: 1
Exterior Maintenance: 1
Grounds Care: 1
HVAC Maintenance: 1
Insurance: 1
Management: 1
Pest Control: 1
Repairs: 1
Roof Maintenance: 1
Sewer: 1
Taxes: 1
Trash Collection: 1
Water: 1
Road Frontage Type
City Street: 1
Road Surface Type
Asphalt: 1
Roof
Shingle: 1
Sewer
Public Sewer: 1
Special Listing Conditions
Standard: 1
Tenant Pays
Cable TV: 1
Electricity: 1
Telephone: 1
Unit 1 Details
Unit ID: A
Actual Rent: 1550
Unit SqFt: 800
Beds Total: 2
Full Baths Total: 1
Furnished: Unfurnished
Unit Remarks: Lease to start 05/01/2025
Unit 2 Details
Unit ID: B
Actual Rent: 1100
Unit SqFt: 541
Beds Total: 1
Full Baths Total: 1
Furnished: Unfurnished
Unit Remarks: lease ends 04/01/2026
Unit 3 Details
Unit ID: C
Actual Rent: 850
Unit SqFt: 800
Beds Total: 2
Full Baths Total: 1
Furnished: Unfurnished
Unit Remarks: lease expires 11/30/2025
Unit 4 Details
Unit ID: D
Actual Rent: 1500
Unit SqFt: 750
Beds Total: 2
Full Baths Total: 1
Furnished: Unfurnished
Unit Remarks: lease ends 02/28/2026
Unit 5 Details
Unit ID: E
Actual Rent: 1200
Unit SqFt: 800
Beds Total: 2
Full Baths Total: 1
Furnished: Unfurnished
Unit Remarks: lease expires 03/31/2026
Unit 6 Details
Unit ID: F
Actual Rent: 950
Unit SqFt: 541
Beds Total: 1
Full Baths Total: 1
Furnished: Unfurnished
Unit Remarks: lease expires 05/31/2025
Unit 7 Details
Unit ID: G
Actual Rent: 1500
Unit SqFt: 800
Beds Total: 2
Furnished: Unfurnished
Unit Remarks: lease expires 08/31/2025
Utilities
Cable Available: 1
Electricity Connected: 1
Separate Electric Meters: 1
Sewer Connected: 1
Water Connected: 1
Water Source
Public: 1
Showing Requirements
24 Hour Notice: 1
Appointment Only: 1
Call Listing Agent: 1
Showing Service: 1
Showing Considerations
Occupied: 1
Contract Information
Current Price: $955,000
Original List Price: 1400000
Sold Price: $955,000
Status: Closed
Listing Contract Date: 2025-04-18
Property Sub Type: Multi Family
Location Tax and Legal
Street Number: 221
Street Name: Madison
Street Suffix: Avenue
County: Brevard
State: FL
Postal Code: 32920
MLS Area Major: 271 - Cape Canaveral
Subdivision Name: Avon By The Sea
Status Change Information
Major Change Timestamp: 2025-12-13T14:02:26Z
Major Change Type: Status Change
Price Change Timestamp: 2025-07-09T15:34:34Z
Status Change Timestamp: 2025-12-13
Purchase Contract Date: 2025-11-15
Close Date: 2025-12-12
Close Price: 955000
Property Features
Appliances: Dishwasher; Disposal; Electric Range; Microwave; Refrigerator
Construction Materials: Concrete; Frame
Cooling: Wall/Window Unit(s)
Current Use: Investment; Multi-Family
Financial Data Source: Accountant; Property Manager
Flooring: Tile
Heating: Individual; Other
Income Includes: Laundry
Laundry Features: Common Area
Levels: One
Listing Terms: Cash; Conventional
Owner Pays: Common Area Maintenance; Exterior Maintenance; Grounds Care; HVAC Maintenance; Insurance; Management; Pest Control; Repairs; Roof Maintenance; Sewer; Taxes; Trash Collection; Water
Parking Features: Additional Parking; Assigned; Carport; Varies by Unit
Possession: Close Of Escrow
Road Frontage Type: City Street
Road Surface Type: Asphalt
Roof: Shingle
Sewer: Public Sewer
Special Listing Conditions: Standard
Tenant Pays: Cable TV; Electricity; Telephone
Utilities: Cable Available; Electricity Connected; Separate Electric Meters; Sewer Connected; Water Connected
Water Source: Public
Showing Considerations: Occupied
Showing Requirements: 24 Hour Notice; Appointment Only; Call Listing Agent; Showing Service
Listing Office:
Space Coast Realty & Inv. LLC
Last Updated: December - 13 - 2025
Information is deemed to be reliable, but is not guaranteed.