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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 Building is in excellent shape and has no deferred maintenance, many of the AC units have been replaced by the current owner.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 Building is in excellent shape and has no deferred maintenance, many of the AC units have been replaced by the current owner.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.

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