Featured Florida Historic Property: 406 Bluff Dr, Melbourne, FL 32901

Welcome to an incredible piece of history! Before diving into the details, let’s talk about the location. This home is on the northern stretch of the 32901 area code, with many homes built in the early 20th century. This Spanish Colonial, built in 1925, stands out in a sea of cookie-cutter homes throughout Brevard County. Unique and full of history, this property is a true gem! The neighborhood is a delightful mix of old and new, well-maintained, and has no HOA fees. To the west, Babcock is undergoing revitalization, while to the east, US1 is the future home of Compass Landing by Margaritaville. Situated on over half an acre and just two blocks from the beautiful Indian River Lagoon, this property is perfectly located between Historic Downtown Eau Gallie and Downtown Melbourne. It’s zoned for six units, but we counted seven on the property. The main building has four units, each with its own fireplace. There are additional units out back and a side mother-in-law suite attached to the main quadplex. The current owners have installed a new roof and cleared the property, ready for your development vision. Imagine transforming this historic home into a stunning Airbnb or a cozy Bed & Breakfast. Or, turn it into an estate with four bedrooms, multiple baths, a majestic cathedral floor plan with balcony rooms upstairs, and convert the outside structure into a pool/guest house with a pool. Listed at $600K, the current owners estimate $300K in renovations. I estimate between $250K and $500K depending on the route you choose, but I’m confident this has a real ROI given the location, history, and potential. Links below:

Datasheet: 406 Bluff Drive MLS Listing

Compass Landing By Margaritaville in Melbourne

Listing Courtesy of Sarah Clifford of Real Estate Solutions Brevard