221 Madison Avenue, Cape Canaveral, FL 32920 (MLS# 1043737)

(321) 951-0322

(800) 545-5687

738 Malabar Road SE

Palm Bay, FL 32907

Mon-Fri 9:00 am to 5:45 pm

Saturday 10:00 am - 2:00 pm

221 Madison Avenue, Cape Canaveral, FL 32920

$955,000

Virtual Tour

https://www.propertypanorama.com/instaview/spc/1043737

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

Overview

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!

Listing Details MLS# 1043737

General Property Information

Number Of Units Total: 7
Bedrooms Total: 12
Bathrooms Total: 6
Bathrooms Full: 6
Living Area: 5080
Living Area Source: Public Records
New Construction YN: No
Year Built: 1964
Garage YN: No
Carport YN: Yes
Carport Spaces: 4
Open Parking Spaces: 4
Lot Size Acres: 0.38
Lot Size Square Feet: 16553
Association YN: No
Water Body Access YN: No
Furnished: Unfurnished
Stories Total: Yes
Stories: Yes
Entry Level: Yes
Direction Faces: North
Pool Private YN: No
Senior Community YN: No
List Price/SqFt: 236.22
Sold Price/SqFt: 187.99
Bathrooms Half: 0

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

Contract Information

Original List Price: 1400000
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

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!

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

More Information

Closing Company Details

Closing Company Name: Title Solutions of Florida - Leanne Shufelt-marketpro1@weprocess.pro

Income and Expenses

Gross Income: 74955.25
Operating Expense: 14987.37

Unit 1 Details

Unit ID: A
Actual Rent: 1550
Unit SqFt: 800
Full Baths Total: Yes
Furnished: Unfurnished
Unit Remarks: Lease to start 05/01/2025

Unit 2 Details

Unit ID: B
Actual Rent: 1100
Unit SqFt: 541
Full Baths Total: Yes
Furnished: Unfurnished
Unit Remarks: lease ends 04/01/2026

Unit 3 Details

Unit ID: C
Actual Rent: 850
Unit SqFt: 800
Full Baths Total: Yes
Furnished: Unfurnished
Unit Remarks: lease expires 11/30/2025

Unit 4 Details

Unit ID: D
Actual Rent: 1500
Unit SqFt: 750
Full Baths Total: Yes
Furnished: Unfurnished
Unit Remarks: lease ends 02/28/2026

Unit 5 Details

Unit ID: E
Actual Rent: 1200
Unit SqFt: 800
Full Baths Total: Yes
Furnished: Unfurnished
Unit Remarks: lease expires 03/31/2026

Unit 6 Details

Unit ID: F
Actual Rent: 950
Unit SqFt: 541
Full Baths Total: Yes
Furnished: Unfurnished
Unit Remarks: lease expires 05/31/2025

Unit 7 Details

Unit ID: G
Actual Rent: 1500
Unit SqFt: 800
Furnished: Unfurnished
Unit Remarks: lease expires 08/31/2025

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

Appliances

Dishwasher: Yes
Disposal: Yes
Electric Range: Yes
Microwave: Yes
Refrigerator: Yes

Construction Materials

Concrete: Yes
Frame: Yes

Cooling

Wall/Window Unit(s): Yes

Current Use

Investment: Yes
Multi-Family: Yes

Flooring

Tile: Yes

Heating

Individual: Yes
Other: Yes

Laundry Features

Common Area: Yes

Levels

One: Yes

Listing Terms

Cash: Yes
Conventional: Yes

Parking Features

Additional Parking: Yes
Assigned: Yes
Carport: Yes
Varies by Unit: Yes

Possession

Close Of Escrow: Yes

Financial Data Source

Accountant: Yes
Property Manager: Yes

Income Includes

Laundry: Yes

Owner Pays

Common Area Maintenance: Yes
Exterior Maintenance: Yes
Grounds Care: Yes
HVAC Maintenance: Yes
Insurance: Yes
Management: Yes
Pest Control: Yes
Repairs: Yes
Roof Maintenance: Yes
Sewer: Yes
Taxes: Yes
Trash Collection: Yes
Water: Yes

Road Frontage Type

City Street: Yes

Road Surface Type

Asphalt: Yes

Roof

Shingle: Yes

Sewer

Public Sewer: Yes

Special Listing Conditions

Standard: Yes

Tenant Pays

Cable TV: Yes
Electricity: Yes
Telephone: Yes

Utilities

Cable Available: Yes
Electricity Connected: Yes
Separate Electric Meters: Yes
Sewer Connected: Yes
Water Connected: Yes

Water Source

Public: Yes

Showing Requirements

24 Hour Notice: Yes
Appointment Only: Yes
Call Listing Agent: Yes
Showing Service: Yes

Showing Considerations

Occupied: Yes

Listing Office: Space Coast Realty & Inv. LLC

Last Updated: December - 13 - 2025

Information is deemed to be reliable, but is not guaranteed.