325 8th Street, Holly Hill, FL 32117 (MLS# 1059691)

325 8th Street, Holly Hill, FL 32117

$875,000

Property Type: Residential Income Bedrooms: 20 Square Footage: 9,792 Status: Closed

Current Price: $875,000 List Date: 7/08/2019 Last Modified: 9/23/2024

Overview

Description

Excellent stabilized investment property. Professionally managed apartment building with historically 100% occupancy. Building is in excellent shape and has no deferred maintenance, 7 of the 12 units have been updated with new kitchens, vanities, doors, lighting fixtures and tile. Building is concrete block construction with shingle pitched roof, which is ideal for holding this building long term. 10 of the 12 units have all tile floors, 2 have a mix of tile and carpet. 8 units are 2 bed 1 bath units with a nice open kitchen living room concept. 4 units are 1 bed 1 bath units, that also feature a nice floor plan. Plenty of parking spots for the tenants. Building is located near public transportation and an ideal location near many sources of employment. Building is approximately 1600 feet

Supplements: feet from the Halifax River, 6 minutes to the beach. The Daytona Beach area 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.

Listing Details MLS# 1059691

General Property Information

Number Of Units Total: 12
Bedrooms Total: 20
Living Area: 8648
Year Built: 1973
Lot Size Dimensions: 13804
Association YN: Yes
Water Body Access YN: No
Directions: US1 & Mason, north on US1, West on 8th street, building at corner of 8th and State.
Public Remarks: Excellent stabilized investment property. Professionally managed apartment building with historically 100% occupancy. Building is in excellent shape and has no deferred maintenance, 7 of the 12 units have been updated with new kitchens, vanities, doors, lighting fixtures and tile. Building is concrete block construction with shingle pitched roof, which is ideal for holding this building long term. 10 of the 12 units have all tile floors, 2 have a mix of tile and carpet. 8 units are 2 bed 1 bath units with a nice open kitchen living room concept. 4 units are 1 bed 1 bath units, that also feature a nice floor plan. Plenty of parking spots for the tenants. Building is located near public transportation and an ideal location near many sources of employment. Building is approximately 1600 feet
List Price/SqFt: 106.96
Sold Price/SqFt: 101.18
Association Fee 2: 0

Property Features

Appliances: Electric Range; Refrigerator Construction Materials: Block; Concrete Cooling: Central Air; Multi Units Current Use: Multi-Family Electric: 200+ Amp Service; 220 Volts Heating: Central; Electric Lot Features: Corner Lot Owner Pays: Exterior Maintenance; Grounds Care; Insurance; Management; Taxes; Trash Collection; Water Parking Features: Off Street; Parking Lot Roof: Shingle Sewer: Public Sewer Tenant Pays: Cable TV; Electricity Water Source: Public

Contract Information

Listing Contract Date: 2019-07-08
Property Sub Type: Multi Family

Location Tax and Legal

Street Number: 325
Street Name: 8th
Street Suffix: Street
County: Volusia
State: FL
Postal Code: 32117
Subdivision Name: Pine Crest
MLS Area Major: 35 - Mason to LPGA E of 95

Status Change Information

Major Change Timestamp: 2019-12-09T19:21:26Z
Major Change Type: Status Change
Purchase Contract Date: 2019-09-28
Close Date: 2019-12-06
Close Price: 875000

Income and Expenses

Gross Income: 9215
Gross Scheduled Income: 110580
Net Operating Income: 74517

More Information

Unit 1 Details

Unit ID: 4
Actual Rent: 700
Unit SqFt: 578
Full Baths Total: Yes
Furnished: Unfurnished

Unit 2 Details

Unit ID: 8
Actual Rent: 800
Unit SqFt: 790
Full Baths Total: Yes
Furnished: Unfurnished

Historical Information

Public Historical Remarks 1: Property Name: CAMBRIDGE COURT APTS; Meters: # Electric Meters: 13, # Water Meters: 1; Road Frontage: 116; Depth: 119; Financial Pkg: Yes; Franchise Opt In: Yes

Location, Tax, and Legal

Country: US
Parcel Number: 5337-01-00-0990
Tax Annual Amount: 11121
Tax Year: 2018
Tax Legal Description: LOTS 99 & 100 PINE CREST HOLLY HILL PER OR 4899 PG 3012 PER OR 6604 PG 2770 PER OR 7273 PG 0895

Currently Not Used

Bedrooms Total: 20
Living Area Source: Appraiser
Building Area Total: 9792
Year Built: 1973
New Construction YN: No
Carport YN: No
Pool Private YN: No
Parking Total: 14

Appliances

Electric Range: Yes
Refrigerator: Yes

Construction Materials

Block: Yes
Concrete: Yes

Cooling

Central Air: Yes
Multi Units: Yes

Current Use

Multi-Family: Yes

Electric

200+ Amp Service: Yes
220 Volts: Yes

Heating

Central: Yes
Electric: Yes

Lot Features

Corner Lot: Yes

Owner Pays

Exterior Maintenance: Yes
Grounds Care: Yes
Insurance: Yes
Management: Yes
Taxes: Yes
Trash Collection: Yes
Water: Yes

Parking Features

Off Street: Yes
Parking Lot: Yes

Roof

Shingle: Yes

Sewer

Public Sewer: Yes

Tenant Pays

Cable TV: Yes
Electricity: Yes

Water Source

Public: Yes

Listing Office: 24/7 Florida Realty

Last Updated: September - 23 - 2024

Information deemed reliable but not guaranteed.

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