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2581 Spence Drive

Palm Bay, FL 32905
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$565,000 $2,382/Mo
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Bed 7

Bed

Bath 6

Bath

SqFt2,458

Sqft

Acres0.22

Acre(Lot)

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 convenien ce. Major improvements have already been completed, offering peace of mind to the next owner. The property has a newer roof and fencing.

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Detail Ic Property Details

Property Type : Residential Income

Price : $565,000

AD Id : 72216518

MLS Id : 1065407

Beds : 7

Lot Size : 0.22 Acre

Living Area Size : 2,458

Year Built : 1958

County : Brevard

  • Map Map

Map

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Feature Features

  • Bedroom Information

    Total Bedrooms: 7

    Bathroom Information

    Total Baths: 6 Full Baths: 6

    Water/Sewer

    Sewer: Public Sewer

  • Interior Features

    Laundry Features: Common Area

  • Heating & Cooling

    Heating: Central Cooling: Central Air, Wall/Window Unit(s) WaterSource: Public

  • Building Information

    Year Built: 1958 Stories: 1 Construction Materials: Block, Concrete, Frame, Stucco

  • Fencing

    Chain Link, Fenced, Wood

  • Laundry Features

    Common Area

    Fencing

    Chain Link, Fenced, Wood

  • Lot Information

    Lot Size Area: 0.22 Acres Lot Square Feet: 9,583 Stories: 1 Main Square Feet: 2458

    Property Information

    Property Type: Residential Income Sub Type: Multi Family SQ ft (Living Area): 2,458 MLS Area Minor: 340 - NE Palm Bay Construction Materials: Block, Concrete, Frame, Stucco Property Age: 68

  • Listing Price Information

    Listing Id: 1065407 ist Price: $565,000 Original List Price: $599,999 List Price Tot SqFt: $230 Listing Terms Cash, Conventional

  • Listing Information

    Possession: Close Of Escrow

  • Tax Information

    Parcel Number: 28-37-11-76-0000f.0-0002.00 Annual Tax: $3,230 Tax Year: 2025 Taxes: FARVIEW SUBD, REPLAT OF PT OF LOT 2 BLK F

  • Parking Information

    # of Garage Spaces: 1 Has Garage: Yes Additional Parking, Garage, Off Street

  • School Information

    Elementary School: Palm Bay Elem
    Elementary School District:
    Junior High School: Stone
    Senior High School: Palm Bay

  • Utility Information

    Electricity Connected, Sewer Connected, Water Connected

  • Location Information

    Direction: US Highway 1 to Spence Dr, right across from Honda dealership.
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Nearby Home Value

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1656 Sunny Brook Lane #.., Palm Bay, FL, 32905 $999,000 18 12 5,484 5,484 SqFt
2012 Tree Ridge Lane, Palm Bay, FL, 32905 $649,900 8 1 3,516 3,516 SqFt
4311 Tree Ridge Lane, Palm Bay, FL, 32905 $650,000 8 1 3,480 3,480 SqFt

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ByOwner last updated this listing 07/29/2026 @ 09:56

MLS: 1065407 LISTED BY: Caleb Gomez, Blue Marlin Real Estate 321-877-2902 SOURCE: Space Coast MLS (Space Coast Association of REALTORS®)

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