Mode at Melbourne
Multifamily
Mode at Melbourne is a high-performing value-add apartment community located in Melbourne, FL. The property features 166 apartment homes located on Florida’s east-central coast, in Melbourne, Brevard County, Florida. The property was built in 2020 and has an average unit size of approximately 1,700 square feet. On average, the units are 500 square feet larger than comparable apartments in the market, providing a competitive edge with more spacious and comfortable living spaces.
The property is situated in one of Florida’s largest and fastest-growing metropolitan areas, characterized by robust population growth, strong absorption trends, and rising rents. The market is supported by diverse employment bases, including education and health services, professional and business services, and trade, transportation, and utilities. Submarket fundamentals remain favorable, with asking rents increasing year-over-year. Respected third-party analysts project an average rent growth of 10.6% across the submarkets through 2029.*
The property also offers waterfront units with lake views, setting a serene and desirable ambiance for residents to enjoy. The third floor units have expansive vaulted ceilings which can also attribute to driving competitive rent pricing. Community amenities include: a resort-style pool and sundeck, fitness center, clubroom with high-speed wifi, playground, EV charging station, car care center, optional detached garages, dog park, and pond/water views. The apartment homes offer open and spacious floor plans, large walk-in closets, private balconies, granite countertops with tile backsplash, and much more.
*CoStar Realty Information Inc.
This is neither an offer to sell nor a solicitation of an offer to buy the securities described herein. An offering is made only by the Private Placement Memorandum. This sales and advertising literature must be read in conjunction with the Private Placement Memorandum in order to understand fully all of the implications and risks of the offering of securities to which it relates. A copy of the Private Placement Memorandum must be made available to you in connection with this offering. An investment in Carter Multifamily Growth & Income Fund, LLC involves a high degree of risk and there can be no assurance that the investment objectives of this program will be attained.
Company
Carter Multifamily
Location
Melbourne, FL
Overview
Mode at Melbourne is located in Melbourne, FL and is a garden-style multifamily property with 166 apartments homes. The property is located on the state’s rapidly growing Space Coast — a market fueled by strong population and job growth.