7521 Magnolia Avenue, Cape Canaveral, FL 32920
$1,450,000
Property Type:
Residential Income
Bedrooms:
15
Baths:
8
Square Footage:
6,557
Lot Size (sq. ft.):
6,970
Status:
Active
Current Price:
$1,450,000
List Date:
3/07/2025
Last Modified:
11/13/2025
Description
Beachside Investment Opportunity - Fully Renovated 8-Unit Multifamily Property
Just steps from the beach, this fully renovated 8-unit property presents an exceptional investment opportunity in a prime location. Fully renovated in 2020 down to the studs, this property is turn-key, fully tenant-occupied, and ready to generate income immediately.
The property features 2 spacious 3-bedroom units, 3 well-sized 2-bedroom units, and 3 cozy 1-bedroom units. Each unit has its own private exterior entry, providing added privacy and convenience, along with ample parking for residents.
Located just a short walk to the beach and a quick drive to Port Canaveral and Cocoa Beach, this property offers the perfect blend of beachside living and easy access to local attractions. Its high-quality renovations and prime location make it an ideal addition to any investment portfolio.
Supplements: Don't miss out on this incredible opportunity to own a fully updated multifamily property in one of the most sought-after beach areas in the region!
More Information MLS# 1039315
Location, Tax, and Legal
Tax Account: 2434102
Parcel Number: 24-37-23-Cg-00043.0-0015.01
General County Location: Central
Elementary School: Cape View
Middle School: Cocoa Beach
High School: Cocoa Beach
Tax Annual Amount: 14379.5
Tax Year: 2024
Tax Legal Description: AVON BY THE SEA LOT 15 EX N 50 FT & LOT 16 EX N 50 FT BLK 43
Directions: From A1A/Harrison Ave, head east on Harrison Ave. Turn south on to Magnolia Ave, and arrive at property on the right.
General Property Information
Number Of Buildings: 1
Number Of Units Total: 8
Stories Total: 3
Bathrooms Half: 0
Living Area: 4906
Living Area Source: Public Records
Building Area Total: 6557
Lot Size Acres: 0.16
Lot Size Square Feet: 6970
Association YN: No
New Construction YN: No
Garage YN: No
Carport YN: No
Open Parking Spaces: 10
Senior Community YN: No
Water Body Access YN: No
Furnished: Unfurnished
Direction Faces: South
Pool Private YN: No
List Price/SqFt: 295.56
Bedrooms Total: 15
Bathrooms Total: 8
Bathrooms Full: 8
Year Built: 1962
Remarks and Miscellaneous
Public Remarks: Beachside Investment Opportunity - Fully Renovated 8-Unit Multifamily Property
Just steps from the beach, this fully renovated 8-unit property presents an exceptional investment opportunity in a prime location. Fully renovated in 2020 down to the studs, this property is turn-key, fully tenant-occupied, and ready to generate income immediately.
The property features 2 spacious 3-bedroom units, 3 well-sized 2-bedroom units, and 3 cozy 1-bedroom units. Each unit has its own private exterior entry, providing added privacy and convenience, along with ample parking for residents.
Located just a short walk to the beach and a quick drive to Port Canaveral and Cocoa Beach, this property offers the perfect blend of beachside living and easy access to local attractions. Its high-quality renovations and prime location make it an ideal addition to any investment portfolio.
Closing Company Details
Closing Company Name: Dockside Title Merritt Island
Closing Company Address: 380 S Courtenay Pkwy, Merritt Island, FL 32952
Construction Materials
Block: 1
Concrete: 1
Cooling
Split System: 1
Wall/Window Unit(s): 1
Current Use
Multi-Family: 1
Exterior Features
Impact Windows: 1
Fencing
Wood: 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
Parking Features
Parking Lot: 1
Possession
Close Of Escrow: 1
Income and Expenses
Gross Income: 123000
Net Operating Income: 90832
Income Includes
Rent Only: 1
Road Frontage Type
City Street: 1
Road Surface Type
Asphalt: 1
Roof
Membrane: 1
Shingle: 1
Sewer
Public Sewer: 1
Special Listing Conditions
Standard: 1
Tenant Pays
Electricity: 1
Unit 1 Details
Unit ID: 1
Actual Rent: 1600
Unit SqFt: 0
Beds Total: 3
Full Baths Total: 1
Furnished: Unfurnished
Unit Remarks: 3 bedroom 1 bath
Unit 2 Details
Unit ID: 2
Actual Rent: 1050
Unit SqFt: 0
Beds Total: 1
Full Baths Total: 1
Furnished: Unfurnished
Unit Remarks: 1 bed 1 bath
Unit 3 Details
Unit ID: 3
Actual Rent: 1300
Unit SqFt: 0
Beds Total: 2
Full Baths Total: 1
Furnished: Unfurnished
Unit Remarks: 2 bed 1 bath
Unit 4 Details
Unit ID: 4
Actual Rent: 1600
Unit SqFt: 0
Beds Total: 3
Full Baths Total: 1
Furnished: Unfurnished
Unit Remarks: 3 bed 1 bath
Unit 5 Details
Unit ID: 5
Actual Rent: 1050
Unit SqFt: 0
Beds Total: 1
Full Baths Total: 1
Furnished: Unfurnished
Unit Remarks: 1 bed 1 bath
Unit 6 Details
Unit ID: 6
Actual Rent: 1300
Unit SqFt: 0
Beds Total: 2
Full Baths Total: 1
Furnished: Unfurnished
Unit Remarks: 2 bed 1 bath
Unit 7 Details
Unit ID: 7
Actual Rent: 1050
Unit SqFt: 0
Beds Total: 1
Full Baths Total: 1
Furnished: Unfurnished
Unit Remarks: 1 bed 1 bath
Unit 8 Details
Unit ID: 8
Actual Rent: 1300
Unit SqFt: 0
Beds Total: 2
Full Baths Total: 1
Furnished: Unfurnished
Unit Remarks: 2 bed 1 bath
Utilities
Cable Available: 1
Electricity Connected: 1
Sewer Connected: 1
Water Source
Public: 1
Showing Requirements
Appointment Only: 1
Call Listing Agent: 1
Listing Agent Must Accompany: 1
Contract Information
Current Price: $1,450,000
Original List Price: 1500000
List Price: $1,450,000
Status: Active
Listing Contract Date: 2025-03-06
Property Sub Type: Multi Family
Location Tax and Legal
Street Number: 7521
Street Name: Magnolia
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: 2025-10-16T18:05:46Z
Major Change Type: Price Reduced
Price Change Timestamp: 2025-10-16T18:05:46Z
Status Change Timestamp: 2025-03-06
Property Features
Construction Materials: Block; Concrete
Cooling: Split System; Wall/Window Unit(s)
Current Use: Multi-Family
Exterior Features: Impact Windows
Fencing: Wood
Heating: Varies by Unit
Income Includes: Rent Only
Laundry Features: Common Area
Listing Terms: Cash; Conventional; Owner May Carry; Private Financing Available; Other
Parking Features: Parking Lot
Possession: Close Of Escrow
Road Frontage Type: City Street
Road Surface Type: Asphalt
Roof: Membrane; Shingle
Sewer: Public Sewer
Special Listing Conditions: Standard
Tenant Pays: Electricity
Utilities: Cable Available; Electricity Connected; Sewer Connected
Water Source: Public
Showing Requirements: Appointment Only; Call Listing Agent; Listing Agent Must Accompany
Documents
PnL ›
Listing Office:
Blue Marlin Real Estate
Last Updated: November - 13 - 2025
Information is deemed to be reliable, but is not guaranteed.