1450 S Palmetto Avenue, Daytona Beach, FL 32114
$1,450,000
Property Type:
Residential Income
Bedrooms:
20
Square Footage:
14,992
Status:
Closed
Current Price:
$1,450,000
List Date:
7/23/2018
Last Modified:
9/23/2024
Description
Excellent stabilized investment property. Professionally managed apartment building with historically 100% occupancy. Plenty of parking with 31 parking spaces. Building is in excellent shape and has no deferred maintenance, many of the AC units have been replaced by the current owner. Building is concrete block construction with shingle pitched roof, which is ideal for holding this building long term. All 20 units are 1 bed 1 bath units with a nice open kitchen living room concept. Many of the units have updated cabinets and flooring, even the units that have not been updated are in great condition. Building has 1 active laundry room. Plenty of parking spots for the tenants, and 3 owner storage rooms.
Supplements: Building is located near public transportation and an ideal location near many sources of employment. Daytona Beach is home to numerous colleges and flight schools, all of which are in close proximity to this building, which provides for an increased number of potential tenants. Additional details and financials can be released with signed non-disclosure agreement.
More Information MLS# 1045886
Location, Tax, and Legal
Country: US
Parcel Number: 5340-13-00-0150
Tax Annual Amount: 15539
Tax Year: 2017
Tax Legal Description: E 150 FT OF S 216.2 FT OF PLOT 15 COUNTRY CLUB HARBOR REPLAT REPLAT PER OR 4514 PG 1027 PER OR 6801 PG 0802 PER OR 7098 PG 0843
Currently Not Used
Bedrooms Total: 20
Living Area Source: Appraiser
Building Area Total: 14992
Year Built: 1987
New Construction YN: No
Carport YN: No
Pool Private YN: No
General Property Information
Lot Size Dimensions: 31500
Living Area: 13728
Number Of Units Total: 20
Association YN: Yes
Association Fee 2: 0
Directions: US1/SR400 head east on SR400 to S Palmetto, head north,
Public Remarks: Excellent stabilized investment property. Professionally managed apartment building with historically 100% occupancy. Plenty of parking with 31 parking spaces. Building is in excellent shape and has no deferred maintenance, many of the AC units have been replaced by the current owner. Building is concrete block construction with shingle pitched roof, which is ideal for holding this building long term. All 20 units are 1 bed 1 bath units with a nice open kitchen living room concept. Many of the units have updated cabinets and flooring, even the units that have not been updated are in great condition. Building has 1 active laundry room. Plenty of parking spots for the tenants, and 3 owner storage rooms.
Water Body Access YN: No
List Price/SqFt: 108.54
Sold Price/SqFt: 105.62
Bedrooms Total: 20
Year Built: 1987
Appliances
Electric Range: 1
Refrigerator: 1
Construction Materials
Block: 1
Concrete: 1
Cooling
Central Air: 1
Multi Units: 1
Current Use
Multi-Family: 1
Heating
Central: 1
Income and Expenses
Gross Income: 14145
Gross Scheduled Income: 169740
Net Operating Income: 104741
Owner Pays
Cable TV: 1
Grounds Care: 1
Insurance: 1
Management: 1
Taxes: 1
Trash Collection: 1
Water: 1
Parking Features
Parking Lot: 1
Roof
Shingle: 1
Sewer
Public Sewer: 1
Tenant Pays
Electricity: 1
Unit 1 Details
Unit ID: 20
Actual Rent: 725
Unit SqFt: 686
Beds Total: 1
Full Baths Total: 1
Furnished: Unfurnished
Unit Remarks: Parking Spaces: 1
Water Source
Public: 1
Historical Information
Public Historical Remarks 1: Financial Info: Other Annual Inc: 900; Property Name: Sprucewood Apts; Meters: # Electric Meters: 21, # Water Meters: 1; Road Frontage: 210; Depth: 150; Financial Pkg: Yes; Franchise Opt In: Yes
Contract Information
Current Price: $1,450,000
Sold Price: $1,450,000
Status: Closed
Listing Contract Date: 2018-07-22
Property Sub Type: Multi Family
Location Tax and Legal
Street Number: 1450
Street Direction Prefix: S
Street Name: Palmetto
Street Suffix: Avenue
County: Volusia
State: FL
Postal Code: 32114
Subdivision Name: Daytona
MLS Area Major: 32 - Daytona Beville to ISB, E of 95
Status Change Information
Major Change Timestamp: 2018-09-11T01:43:43Z
Major Change Type: Status Change
Purchase Contract Date: 2018-07-23
Close Date: 2018-09-10
Close Price: 1450000
Property Features
Appliances: Electric Range; Refrigerator
Construction Materials: Block; Concrete
Cooling: Central Air; Multi Units
Current Use: Multi-Family
Heating: Central
Owner Pays: Cable TV; Grounds Care; Insurance; Management; Taxes; Trash Collection; Water
Parking Features: Parking Lot
Roof: Shingle
Sewer: Public Sewer
Tenant Pays: Electricity
Water Source: Public
Listing Office:
24/7 Florida Realty
Last Updated: September - 23 - 2024
Information deemed reliable but not guaranteed.