206 Douglas Street, New Smyrna Beach, FL 32168 (MLS# 1065713)

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

Overview

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 ex ... (Read more)

Listing Details MLS# 1065713

General Property Information

Number Of Units Total: 7
Bedrooms Total: 10
Living Area: 6548
Year Built: 1903
Lot Size Acres: 0.18
Lot Size Dimensions: 7766
Association YN: Yes
Water Body Access YN: No
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.
List Price/SqFt: 117.58
Sold Price/SqFt: 113.39
Association Fee 2: 0

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

Contract Information

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

Status Change Information

Major Change Timestamp: 2020-06-18T18:52:12Z
Major Change Type: Status Change
Price Change Timestamp: 2020-04-28T16:56:51Z
Contingent Date: 2020-05-11
Purchase Contract Date: 2020-05-11
Close Date: 2020-06-17
Close Price: 742500

Income and Expenses

Gross Income: 6800
Gross Scheduled Income: 81600

More Information

Unit 1 Details

Unit ID: 7
Actual Rent: 900
Unit SqFt: 560
Full Baths Total: Yes
Furnished: Unfurnished

Unit 2 Details

Unit ID: 6
Actual Rent: 975
Unit SqFt: 560
Full Baths Total: Yes
Furnished: Unfurnished
Unit Remarks: Parking Spaces: 1

Unit 3 Details

Unit ID: 4
Actual Rent: 1000
Unit SqFt: 740
Full Baths Total: Yes
Furnished: Unfurnished
Unit Remarks: Parking Spaces: 1

Unit 4 Details

Unit ID: 3
Actual Rent: 1025
Unit SqFt: 740
Full Baths Total: Yes
Furnished: Unfurnished

Unit 5 Details

Unit ID: Yes
Actual Rent: 950
Unit SqFt: 740
Full Baths Total: Yes
Furnished: Unfurnished

Unit 6 Details

Unit ID: 2
Actual Rent: 975
Unit SqFt: 740
Full Baths Total: Yes
Furnished: Unfurnished

Unit 7 Details

Unit ID: 5
Actual Rent: 975
Unit SqFt: 770
Full Baths Total: Yes
Furnished: Unfurnished

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

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

Appliances

Dishwasher: Yes

Construction Materials

Frame: Yes
Stucco: Yes

Cooling

Central Air: Yes

Current Use

Multi-Family: Yes

Exterior Features

Balcony: Yes

Heating

Central: Yes
Electric: Yes
Heat Pump: Yes

Lot Features

Other: Yes

Owner Pays

Exterior Maintenance: Yes
Gas: Yes
Insurance: Yes
Water: Yes

Parking Features

Off Street: Yes
Parking Lot: Yes

Roof

Shingle: Yes
Other: Yes

Sewer

Public Sewer: Yes

Tenant Pays

Cable TV: Yes
Electricity: Yes
Insurance: Yes

Water Source

Public: Yes

Listing Office: Magnolia Properties

Last Updated: September - 23 - 2024

Information deemed reliable but not guaranteed.

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