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1806&1808 Pine Street, Melbourne, FL 32901

$275,000
: 5
BD
: 3
BA
: 2,394
SqFt

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Sold Price: $275,000
List Price: $349,900
Closing Date: Mar 10, 2026
MLS#: 1066680
Status: CLOSED
Type: Single Family Residential
County: Brevard
City: Melbourne
Area: Melbourne
Subdivision: Wells Map No 3
Bedrooms: 5
Bathrooms: 3
Living Area: 2,394
Total Square Feet: 36,590
Acres: 0.84
Year Built: 1969
Days on Market: 53

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Property Description

INVESTOR SPECIAL!!! Nestled in the heart of central Melbourne and directly across from a lush local golf course, this historic home presents a rare, high-upside opportunity for investors and developers alike. Set on a generous .84-acre parcel with city water and sewer in place, the property offers flexibility to rehabilitate the existing residence or start fresh with new construction. The value multiplies with the option to further expand by adding a third property available for purchase to reach an impressive 1.26 acres—unlocking the ability to pursue R2 rezoning with a density allowance of up to six units per acre. Currently, zoning allows for an accessory dwelling unit of up to 600 square feet, attached or detached, and permits short-term rentals, creating immediate income potential. Located within a Qualified Opportunity Zone, this assemblage delivers substantial tax advantages, making it an exceptional canvas for redevelopment, income production, or long-term portfolio growth in one of Melbourne's most desirable corridors.

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Additional Information

Tax Year: 2025
Tax Amount: $7,969
Location Description: Other
Utilities: Cable Connected, Electricity Connected
Exterior Finish: Frame
Construction: Frame
Parking: Other
Garage Spaces: 1
Elementary School: Harbor City
Middle School: Hoover
High School: Melbourne