2581 Spence Drive NE, Palm Bay, FL 32905
$550,000
Property Type:
Residential Income
Bedrooms:
7
Baths:
6
Square Footage:
2,458
Lot Size (sq. ft.):
9,583
Status:
Active
Current Price:
$550,000
List Date:
1/03/2026
Last Modified:
3/23/2026
Overview
Description
Listing Details MLS# 1065407
General Property Information
- Number Of Buildings
- 2
- Number Of Units Total
- 6
- Bedrooms Total
- 7
- Bathrooms Total
- 6
- Bathrooms Full
- 6
- Living Area
- 2458
- Living Area Source
- Estimated
- Accessibility Features YN
- No
- New Construction YN
- No
- Year Built
- 1958
- Garage YN
- Yes
- Garage Spaces
- Yes
- Carport YN
- No
- Open Parking Spaces
- 6
- Lot Size Acres
- 0.22
- Lot Size Square Feet
- 9583
- Association YN
- No
- CDD Fee YN
- No
- Water Body Access YN
- No
- Waterfront YN
- No
- Furnished
- Unfurnished
- Stories Total
- Yes
- Stories
- Yes
- Pool Private YN
- No
- Senior Community YN
- No
- List Price/SqFt
- 223.76
- Bathrooms Half
- 0
Property Features
Construction Materials:
Block; Concrete; Frame; Stucco
Cooling:
Central Air; Wall/Window Unit(s)
Current Use:
Residential
Fencing:
Chain Link; Fenced; Wood
Financial Data Source:
Property Manager
Heating:
Central
Income Includes:
Rent Only
Laundry Features:
Common Area
Levels:
One
Listing Terms:
Cash; Conventional
Parking Features:
Additional Parking; Garage; Off Street
Possession:
Close Of Escrow
Sewer:
Public Sewer
Special Listing Conditions:
Standard
Utilities:
Electricity Connected; Sewer Connected; Water Connected
Water Source:
Public
Contract Information
- Original List Price
- 599999
- Listing Contract Date
- 2026-01-02
- Property Sub Type
- Multi Family
- Comp Sale YN
- No
Location Tax and Legal
- Street Number
- 2581
- Street Name
- Spence
- Street Suffix
- Drive
- Street Direction Suffix
- NE
- County
- Brevard
- State
- FL
- Postal Code
- 32905
- MLS Area Major
- 340 - NE Palm Bay
Remarks and Miscellaneous
- Public Remarks
- Income Producing Property near Downtown Melbourne. Welcome to 2581 Spence Dr, a rare and versatile multi unit property offering immediate income and long term upside. This unique compound style residence is occupied and currently generating rental income, making it an ideal opportunity for investors seeking a stabilized asset in a growing market. The property features a main home with 2 bedrooms, 1 bathroom, and a garage, complemented by five additional rental units that allow for diversified income streams. These include: Unit A: Studio, Unit B: Studio, Unit C: 1-bedroom unit, Unit D: Efficiency unit with a loft, Unit E: Efficiency. Tenants enjoy shared amenities including a central courtyard that creates a welcoming community feel, as well as a dedicated laundry area for added convenience. Major improvements have already been completed, offering peace of mind to the next owner. The property has a newer roof and fencing.
Status Change Information
- Major Change Timestamp
- 2026-03-23T19:29:24Z
- Major Change Type
- Price Reduced
- Price Change Timestamp
- 2026-03-23T19:29:24Z
- Status Change Timestamp
- 2026-01-02
More Information
Closing Company Details
- Closing Company Name
- Dockside Title
- Closing Company Address
- 2300 South Babcock St Melbourne, FL 32901
Unit 1 Details
- Unit ID
- House
- Full Baths Total
- Yes
- Furnished
- Unfurnished
- Unit Remarks
- Unit is a single family House
- Actual Rent
- 0
- Unit SqFt
- 0
Unit 2 Details
- Unit ID
- Unit A
- Full Baths Total
- Yes
- Furnished
- Unfurnished
- Unit Remarks
- Studio
- Actual Rent
- 0
- Unit SqFt
- 0
Unit 3 Details
- Unit ID
- Unit B
- Full Baths Total
- Yes
- Furnished
- Unfurnished
- Unit Remarks
- Studio
- Actual Rent
- 0
- Unit SqFt
- 0
Unit 4 Details
- Unit ID
- Unit C
- Full Baths Total
- Yes
- Furnished
- Unfurnished
- Unit Remarks
- 1 bedroom apartment
- Actual Rent
- 0
- Unit SqFt
- 0
Unit 5 Details
- Unit ID
- Unit D
- Full Baths Total
- Yes
- Furnished
- Unfurnished
- Unit Remarks
- Efficiency with Loft Unit
- Actual Rent
- 0
- Unit SqFt
- 0
Unit 6 Details
- Unit ID
- Unit E
- Full Baths Total
- Yes
- Furnished
- Unfurnished
- Unit Remarks
- Efficiency Unit
- Actual Rent
- 0
- Unit SqFt
- 0
Location, Tax, and Legal
- Tax Account
- 2825766
- Parcel Number
- 28-37-11-76-0000f.0-0002.00
- General County Location
- South
- Elementary School
- Palm Bay Elem
- Middle School
- Stone
- High School
- Palm Bay
- Tax Annual Amount
- 3229.92
- Tax Year
- 2025
- Tax Legal Description
- FARVIEW SUBD, REPLAT OF PT OF LOT 2 BLK F
- Zoning Description
- Multi Family
- Directions
- US Highway 1 to Spence Dr, right across from Honda dealership.
Construction Materials
- Block
- Yes
- Concrete
- Yes
- Frame
- Yes
- Stucco
- Yes
Cooling
- Central Air
- Yes
- Wall/Window Unit(s)
- Yes
Current Use
- Residential
- Yes
Fencing
- Chain Link
- Yes
- Fenced
- Yes
- Wood
- Yes
Heating
- Central
- Yes
Laundry Features
- Common Area
- Yes
Levels
- One
- Yes
Listing Terms
- Cash
- Yes
- Conventional
- Yes
Parking Features
- Additional Parking
- Yes
- Garage
- Yes
- Off Street
- Yes
Possession
- Close Of Escrow
- Yes
Financial Data Source
- Property Manager
- Yes
Income Includes
- Rent Only
- Yes
Sewer
- Public Sewer
- Yes
Special Listing Conditions
- Standard
- Yes
Utilities
- Electricity Connected
- Yes
- Sewer Connected
- Yes
- Water Connected
- Yes
Water Source
- Public
- Yes
Documents
Financials & Leases ›
Listing Office:
Blue Marlin Real Estate
Last Updated: March - 23 - 2026
Information is deemed to be reliable, but is not guaranteed.