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11450 Indian River Dr - ISLAND VIEW COTTAGES 1.5 Acres of Residential Land Offered at $4,163,020 CAD in Sebastian, FL 32958

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INVESTMENT HIGHLIGHTS

RIVERFRONT
8 SLIP DOCK IN PLACE

1.61 ACRES MULTIFAMILY ZONING

EXECUTIVE SUMMARY

Riverfront 1.61 acres with RM - 6 zoning allowing 6-7 luxury multifamily units. End unit pricing in the $1.25-$1,750,000 range. Beautiful Old Florida feel with unobstructed river views and 8 slip dock in place. Short distance to the Sebastian Riverfront district for restaurants and retail. Current usage is 12 rental cottages recently renovated by local and out of area professional interior designers. Note, current usage is nonconforming.

PROPERTY FACTS

Price	$4,163,020 CAD	Property Subtype	Residential
Sale Type	Investment or Owner User	Proposed Use	Multifamily Motel Planned Unit Development
No. Lots	1	Total Lot Size	1.50 AC
Property Type	Land	No. Stories	1
Zoning	RM-6 - MULTIFAMILY ZONE RM- 6. 6-7 POSSIBLE UNITS TO BE BUILT

Price	$4,163,020 CAD
Sale Type	Investment or Owner User
No. Lots	1
Property Type	Land
Property Subtype	Residential
Proposed Use	Multifamily Motel Planned Unit Development
Total Lot Size	1.50 AC
No. Stories	1
Zoning	RM-6 - MULTIFAMILY ZONE RM- 6. 6-7 POSSIBLE UNITS TO BE BUILT

1 LOT AVAILABLE

Lot 7

Price	$4,163,020 CAD	Lot Size	1.50 AC
Price Per AC	$2,775,346.64 CAD

Price	$4,163,020 CAD
Price Per AC	$2,775,346.64 CAD
Lot Size	1.50 AC

1.61 riverfront acres with RM-6 zoning allowing for 6-7 luxury multifamily units. Land dimensions of 187x514 with county water and sewer available. Unobstructed views of the intracoastal for all units.

DESCRIPTION

RIVERFRONT 1.61 ACRES WITH MULTIFAMILY ZONING FOR LUXURY UNITS IN THE $1.25-1.75 MILLION DOLLAR PRICE RANGE. UNOBSTRUCTED RIVER VIEWS FOR ALL UNITS. COUNTY WATER AND SEWER AVAILABLE. OLD FLORIDA OAK ENTRYWAY WITH OPEN AREA NEAR THE RIVER. CURRENTLY 12 UNIT RENTAL COTTAGES BUT IS NON CONFORMING.

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PROPERTY TAXES

Parcel Numbers	Multiple 31-39-07-00000-1000-00007.0 31-39-07-00000-1000-00007.1	Improvements Assessment	$312,781 CAD
Land Assessment	$794,000 CAD	Total Assessment	$1,106,782 CAD