Harbor Village Portfolio
Closed150 & 220 E University Blvd, Melbourne, FL 32901
Property type
Multifamily
Unit / Space count
229
Price
Subject to Offer
Building size
199,280 sf
Rentable area
199,280 SF
Year built
1976
Year renovated
Occupancy
Zoning code
Lot size
12.23 Acres
Sold/status
Sold · Date unknown
Bedroom count
Property description
The Harbor Village Portfolio is a multifamily portfolio consisting of two adjacent properties: Harbor Village Apartments (143 units built in 1976) & Harbor Village Townhomes (86 units built in 1983). Both communities have a combined unit count of 229. A majority of the roofs have been replaced at both communities within the last few years. The Harbor Village Portfolio is well located and only minutes from Downtown Melbourne, Melbourne Beach and major employers. Harbor Village Apartments are a 2 & 3 story community, featuring concrete block construction with pitched shingle roofs. Amenities include a resort style pool, back patios, grassy pet walking areas, laundry facilities, and secured, gated access. Harbor Village Townhomes are a 2 story community, featuring wood frame construction with pitched shingle roofs. Amenities include a resort style pool, relaxing pond, grilling & picnic areas, patios, laundry facilities and secure, gated access. Both properties are within walking distance to the Florida Institute of Technology University which annually enrolls over 7,000 students and staff members. Nearby employers include Northrop Grumman (3,000 Employees), Patrick Air Force Base (10,000 Employees), Kennedy Space Center (10,000 Employees), Orlando-Melbourne International Airport (6,000 Employees) and Health First Medical Group (500+ Employees). The Harbor Village Portfolio offers an investor the opportunity to acquire 2 strong value-add assets in an excellent Melbourne location near FL Tech University and several major employers.
Property highlights
- Buyer Plans on Significant Interior and Exterior Upgrades
- Built in Two Phases:
- Phase 1 : Harbor Village Apartments: 143 Units Built in 1976; Concrete Block and Pitched Roofs
- Phase 2: Harbor Village Townhomes: 86 units Built in 1983; Wood Frame with Pitched Roofs
- Diverse Unit Mix with Almost 35% 2 Bed/1.5 Bath Townhomes & 65% Apartments
- Surrounded by Major Employers Including Northrop Grumman (3,000 employees), Patrick Air Force Base (10,000 employee), Kennedy Space Center (10,000 employees), Orlando-Melbourne International Airport (6,000 employees) and Health First Medical Group (500+ employees)
- Located 0.3 Miles from FL Institute of Technology University Which Annually Enrolls Over 7,000 Students & Staff
- Minutes Away From Downtown Melbourne & Florida’s East Coast Beaches Including Satellite Beach, Paradise Beach, Melbourne Beach & Cocoa Beach