206 Douglas Street, New Smyrna Beach, FL 32168
$742,500
Property Type:
Residential Income
Bedrooms:
10
Square Footage:
8,343
Lot Size (sq. ft.):
7,841
Status:
Closed
Current Price:
$742,500
List Date:
3/24/2020
Last Modified:
9/23/2024
Description
This is a remarkable 8-9% return opportunity to own a superior income producing property in the BOOMING Downtown Historical District of New Smyrna Beach. This 7 unit complex has been completely renovated throughout and has remained fully rented since completion. There are 2 units in the downstairs front building, 2 units on the second floor, a large loft apt on the third floor (3 two bedroom units and 1 one bedroom unit plus loft in this bldg). There are two 1 bedroom units in the backside building along with 4 rental private garage spaces available to the tenants. The fifth garage space houses the laundry facilities. The Mixed Use zoning in this location allow for many business uses and the property is zoned for up to 10 total units.
Supplements: The renovations included new new roof on front building, new HVAC systems including ductwork throughout, new electrical panel upgrades, upgraded plumbing, new bathrooms, new flooring, upgraded appliances, new hot water heaters, new fixtures and ceiling fans.THIS IS A TURN KEY OPERATION that brings in substantial annual return. Perfect for a 1031 exchange buyer who needs a tax deferment. Shown by appt only.
More Information MLS# 1065713
Location, Tax, and Legal
Country: US
Parcel Number: 7441-38-10-0980
Tax Annual Amount: 5891
Tax Year: 2019
Tax Legal Description: W 59 FT OF LOTS 97 98 & 99 BLK 10 ANDREWS NEW SMYRNA MB 2 PG 68 PER OR 4287 PG 1605 PER OR 6468 PG 0364 PER OR 7301 PG 4657 PER OR 7349 PG 2863
Currently Not Used
Bedrooms Total: 10
Living Area Source: Appraiser
Building Area Total: 8343
Year Built: 1903
New Construction YN: No
Carport YN: No
Pool Private YN: No
Parking Total: 10
General Property Information
Lot Size Acres: 0.18
Lot Size Dimensions: 7766
Living Area: 6548
Number Of Units Total: 7
Association YN: Yes
Association Fee 2: 0
Directions: From US 1 and Canal St go E on Canal to Magnolia, R to Douglas, R to 206 on the L
Public Remarks: This is a remarkable 8-9% return opportunity to own a superior income producing property in the BOOMING Downtown Historical District of New Smyrna Beach. This 7 unit complex has been completely renovated throughout and has remained fully rented since completion. There are 2 units in the downstairs front building, 2 units on the second floor, a large loft apt on the third floor (3 two bedroom units and 1 one bedroom unit plus loft in this bldg). There are two 1 bedroom units in the backside building along with 4 rental private garage spaces available to the tenants. The fifth garage space houses the laundry facilities. The Mixed Use zoning in this location allow for many business uses and the property is zoned for up to 10 total units.
Water Body Access YN: No
List Price/SqFt: 117.58
Sold Price/SqFt: 113.39
Bedrooms Total: 10
Year Built: 1903
Status Change Information
Contingent Date: 2020-05-11
Major Change Timestamp: 2020-06-18T18:52:12Z
Major Change Type: Status Change
Price Change Timestamp: 2020-04-28T16:56:51Z
Purchase Contract Date: 2020-05-11
Close Date: 2020-06-17
Close Price: 742500
Appliances
Dishwasher: 1
Construction Materials
Frame: 1
Stucco: 1
Cooling
Central Air: 1
Current Use
Multi-Family: 1
Exterior Features
Balcony: 1
Heating
Central: 1
Electric: 1
Heat Pump: 1
Income and Expenses
Gross Income: 6800
Gross Scheduled Income: 81600
Lot Features
Other: 1
Owner Pays
Exterior Maintenance: 1
Gas: 1
Insurance: 1
Water: 1
Parking Features
Off Street: 1
Parking Lot: 1
Roof
Shingle: 1
Other: 1
Sewer
Public Sewer: 1
Tenant Pays
Cable TV: 1
Electricity: 1
Insurance: 1
Unit 1 Details
Unit ID: 7
Actual Rent: 900
Unit SqFt: 560
Beds Total: 1
Full Baths Total: 1
Furnished: Unfurnished
Unit 2 Details
Unit ID: 6
Actual Rent: 975
Unit SqFt: 560
Beds Total: 1
Full Baths Total: 1
Furnished: Unfurnished
Unit Remarks: Parking Spaces: 1
Unit 3 Details
Unit ID: 4
Actual Rent: 1000
Unit SqFt: 740
Beds Total: 2
Full Baths Total: 1
Furnished: Unfurnished
Unit Remarks: Parking Spaces: 1
Unit 4 Details
Unit ID: 3
Actual Rent: 1025
Unit SqFt: 740
Beds Total: 2
Full Baths Total: 1
Furnished: Unfurnished
Unit 5 Details
Unit ID: 1
Actual Rent: 950
Unit SqFt: 740
Beds Total: 1
Full Baths Total: 1
Furnished: Unfurnished
Unit 6 Details
Unit ID: 2
Actual Rent: 975
Unit SqFt: 740
Beds Total: 2
Full Baths Total: 1
Furnished: Unfurnished
Unit 7 Details
Unit ID: 5
Actual Rent: 975
Unit SqFt: 770
Beds Total: 1
Full Baths Total: 1
Furnished: Unfurnished
Water Source
Public: 1
Historical Information
Public Historical Remarks 1: Zoning (Text): MU; Property Name: Andrews New Smyrna; Meters: # Electric Meters: 7, # Water Meters: 1; Road Frontage: 59; Depth: 150; Financial Pkg: No; Franchise Opt In: No
Contract Information
Current Price: $742,500
Sold Price: $742,500
Status: Closed
Listing Contract Date: 2019-12-18
Property Sub Type: Multi Family
Location Tax and Legal
Street Number: 206
Street Name: Douglas
Street Suffix: Street
County: Volusia
State: FL
Postal Code: 32168
Subdivision Name: Not In Subdivision
MLS Area Major: 70 - New Smyrna Beach E of 95
Property Features
Appliances: Dishwasher
Construction Materials: Frame; Stucco
Cooling: Central Air
Current Use: Multi-Family
Exterior Features: Balcony
Heating: Central; Electric; Heat Pump
Lot Features: Other
Owner Pays: Exterior Maintenance; Gas; Insurance; Water
Parking Features: Off Street; Parking Lot
Roof: Shingle; Other
Sewer: Public Sewer
Tenant Pays: Cable TV; Electricity; Insurance
Water Source: Public
Listing Office:
Magnolia Properties
Last Updated: September - 23 - 2024
Information deemed reliable but not guaranteed.