Property Description

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