At $2/sqft for an 80-year-old triplex unit in a median-age-60 beach town, this is a deep-value play — but you're buying 900 sqft of 1945 construction likely to need significant deferred-maintenance work, and as a triplex unit you have zero control over the building's reserve funding or the other owners' upkeep decisions. The local condo market is softening (-7.4% YoY) precisely because buyers are getting wise to inspection and reserve surprises on aging multifamily properties, so your entry price needs to account for what could be a $20–40K+ reserve assessment or major system replacement waiting in the wings. Location-wise, you're in an older, retirement-heavy stretch of Cocoa Beach rather than the beachfront premium zone, which explains the price but also means limited appreciation tailwinds compared to the 21% single-family runup happening elsewhere in the town.

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