Dual-Frontage Assemblage — 1.57 Acres on Indian River Dr & US-1, RM-8 Multifamily, 4 Vacant Rental Units

Highlights:

• Dual frontage: ±170 ft on Indian River Dr and ±239 ft on US Hwy 1; Indian River Lagoon directly across Indian River Dr
• RM-8 multifamily, up to 8 units/acre (about 12 units), 35-ft height allowance west of Indian River Dr
• Four vacant rental units in place: two 1-bed/1-bath, one studio, one furnished 2-bed/2-bath

Description:

A rare dual-frontage assemblage in Sebastian: 1026 Indian River Drive (1.27 acres) and 1104 US Highway 1 (0.30 acres), offered together at 1.57 acres with approximately 170 feet of frontage on Indian River Drive and 239 feet on US Highway 1. Both parcels are zoned RM-8 multifamily residential, permitting single-family, duplex, multifamily, and townhouse development at up to 8 units per acre — approximately 12 units across the assemblage — with a 35-foot height allowance west of Indian River Drive. Commercial use is not permitted by right in RM-8; conditional uses under Sebastian LDC Sec. 54-2-5.2.4 are institutional and civic in character, including child care, bed and breakfast, nursing home, church, cultural/civic facility, school, parks and recreation, and utilities. The city has indicated openness to variances, and buyers should confirm all uses and approvals with the City of Sebastian. Four rental units are in place and currently vacant — two 1-bedroom/1-bath units, one studio, and one furnished and equipped 2-bedroom/2-bath unit — rentable on annual terms or as vacation/Airbnb rentals per seller (city-approved per seller; buyer to verify). A 3D tour and a full development feasibility package, including interim-rental scenarios, are available on request.

Price $1,995,000 | Address 1026 Indian River Dr + 1104 US Hwy 1, Sebastian, FL 32958 | MLS B26055193 (residential) / B26055496 (commercial) — same property, ONE record | Land 1.57 acres total (1.27 + 0.30) | Parcels 31390600000005000021.1 (1026) and 31390600009000000003.0 (1104) | Zoning RM-8 multifamily residential, both parcels; commercial NOT permitted by right | Density up to 8 units/acre (~12 max) | Height up to 35 ft | Frontage ±170.34 ft Indian River Dr, ±239.04 ft US Hwy 1 | Improvements: 4 vacant rental units (two 1/1, one studio, one 2/2 furnished/equipped) | Matterport 3D tour: https://my.matterport.com/show/?m=CwMisHxRxjD

Contact Carlos Ors, Founder | REALTOR®, The Core Team — 561-301-9994 | CarlosOrs@TCTListings.com | TCTListings.com. Full development feasibility package available on request. Buyer/agent to verify all zoning, uses, and approvals.