637 S Orlando Avenue, Cocoa Beach, FL 32931
- $4,390,000
- 16
- BD
- 16
- BA
- 8,177
- SqFt
- Sold Price
- $4,390,000
- List Price
- $4,400,000
- Closing Date
- May 27, 2026
- MLS#
- O6327687
- Type
- Multifamily
- Bedrooms
- 16
- Bathrooms
- 16
- Living Area
- 8,177
- Lot Size
- 21,344
- Subdivision
- Parsons Add
- Year Built
- 1956
Property Description
Listed $855,000 below appraised value. 9.93% cap rate. Owning a short-term rental may offer access to tax strategies such as bonus depreciation and cost segregation. Bonus depreciation, which is currently available at 100% for qualifying property placed in service in 2025, May offer significant tax advantages. Speak with your tax advisor to explore how these options might benefit your investment. Listed below appraised value. The Drift is a fully renovated boutique short term rental complex located in the heart of Cocoa Beach, just a short walk to the surf and downtown. With 13 beautifully upgraded units, including both one-bedroom and two-bedroom options, The Drift offers a blend of modern amenities and coastal charm. This turnkey property is an ideal investment, offering strong cash flow potential and a highly desirable location. Selling with turn key ability: property management, revenue management, guest experience management, online travel agencies set up, direct booking website, google/apple business maps transferable, accounts/reviews transferable, returning guests, group booking contracts in place, central IT hub, City of Cocoa Beach and State of Florida licenses and qualified. Portfolio available: “The Juni” a 7 unit boutique motel a block away.. 402 S Orlando Ave Cocoa Beach FL.
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Additional Information
- Community Features
- No Deed Restriction
- Style
- Multi-Family 5+
- Interior
- Ceiling Fans(s), Open Floorplan, Stone Counters, Window Treatments
- Interior Features
- Ceiling Fans(s), Open Floorplan, Stone Counters, Window Treatments
- Exterior Construction
- Block, Cement Siding, Stucco, Frame
- Exterior
- Outbuildings, Balcony, Fence, Outdoor Grill, Outdoor Shower, Sliding Doors, Storage
- Roof
- Shingle
- Utilities
- Natural Gas Available
- Fireplace
- Yes
- Garage
- Assigned
- Floor
- Luxury Vinyl
- Heating
- Central, Other
- Cooling
- Central Air, Other
- Pool Type
- No Pool
- Water
- Beach Access
- Water View
- Yes
Listing courtesy of MARGAUX REALTY INC. Selling Office: KRG.
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