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$599,999

  • For Sale
  • Active
  • Multi-Family
  • 6 Units
  • 0.22 Acres
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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.

Full Property Details for 2581 Spence Dr NE

General

  • Price: $599,999
  • Taxes: $3,229 (2025)
  • Status: Active
  • Type: Multi-Family
  • Source: BrevardCounty
  • MLS ID: 1065407
  • Updated: 1/2/2026
  • Added to Site: 15 day(s) ago

Interior

  • Furnishings: Unfurnished

Rooms

Bathrooms

  • Total Bathrooms: 6
  • Full Bathrooms: 6

Bedrooms

  • Total Bedrooms: 7

Other Rooms

  • Laundry: Common Area

Parking

  • Garage: Yes
  • Garage Spaces: 1
  • Parking Features: Additional Parking, Garage, Off Street

Location

  • Area: 340 - NE Palm Bay
  • County: Brevard
  • Driving Directions: US Highway 1 to Spence Dr, right across from Honda dealership.

School Information

  • Elementary School: Palm Bay Elem
  • Middle School: Stone
  • High School: Palm Bay

Heating & Cooling

  • Central air: Yes
  • Air Conditioning: Yes
  • Cooling Type: Central Air, Wall/Window Unit(s)
  • Heating Type: Central

Utilities

  • Sewer: Public Sewer
  • Water: Public
  • Utility Description: Electricity Connected, Sewer Connected, Water Connected

Structural Information

  • # Buildings: 2
  • Exterior Const.: Block, Concrete, Frame, Stucco
  • Stories/Levels: 1
  • Square Feet: 2,458
  • Living Area: 2,458 Sq. Ft.
  • Current Bldg. Use: Residential
  • Year Built: 1958

Unit Information

  • Units in Building: 6

Lot Features

  • Lot Size (Acres): 0.22
  • Lot Size (Sq. Ft.): 9,583
  • Fencing (Description): Chain Link, Fenced, Wood

Financial Considerations

  • Price Per Sq. Ft.: $244.1
  • Tax Amount: $3,229.92
  • Tax Year: 2025
  • Terms: Cash, Conventional

Disclosures and Reports

  • Special Conditions: Standard
  • Property ID: 28-37-11-76-0000f.0-0002.00

Listed by Blue Marlin Real Estate

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Listing agents

— 2581 Spence Dr NE —

  • Blue Marlin Real Estate

  • Blue Marlin Real Estate

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 2581 Spence Dr NE

School District:Brevard County School District
NameGradesDistance
Palm Bay Magnet Senior High School
101 Pirate Lane, Melbourne, FL 32901
9-121.6 mi
Palm Bay Elementary School
1200 Alamanda Rd Ne, Palm Bay, FL 32905
PK-62.2 mi
Stone Magnet Middle School
1101 East University Boulevard, Melbourne, FL 32901
7-80.6 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 2581 Spence Dr NE Get Price Alerts and Save Property

Date
Details
Price
Change
Source
1/02/2026
Listed
$599,999
50%
MLS
12/30/2021
Sold
$400,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 2581 Spence Dr NE

Year
Property Taxes
Change
Tax Assessment
Change
2025
$2,939
-12%
$162,680
-3%
2024
$3,329
6%
$167,280
8%
2023
$3,137
2%
$155,260
2%
2022
$3,087
17%
$152,090
20%
2021
$2,642
—
$126,960
17%
2021
$2,642
-2%
$108,080
-2%
2018
$2,689
—
$110,000
5%
2017
$2,676
14%
$105,000
7%
2016
$2,349
1%
$98,000
4%
2015
$2,323
-14%
$94,000
-15%
2019
$2,714
25%
$110,890
29%
2014
$2,177
12%
$86,000
12%
2013
$1,951
—
$77,000
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by Blue Marlin Real Estate

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2581 Spence Drive NE, Palm Bay, FL 32905 (MLS# 1065407) is a Multi-Family property with 6 units containing 7 bedrooms and 6 full bathrooms. 2581 Spence Drive NE is currently listed for $599,999 and was received on January 02, 2026. Want to learn more about 2581 Spence Drive NE? Do you have questions about finding other Multi-Family real estate for sale in Palm Bay? You can browse all Palm Bay real estate or contact a Coldwell Banker agent to request more information.

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