416 N Grandview Avenue, Daytona Beach, FL 32118 (MLS# 546478)

416 N Grandview Avenue, Daytona Beach, FL 32118

$1,200,000

Property Type: Residential Income Bedrooms: 50 Square Footage: 25,000 Status: Closed

Current Price: $1,200,000 List Date: 7/10/2013 Last Modified: 9/23/2024

Overview

Description

Branches East Apts. & Townhomes 1Block From The Ocean. 90% Occupied With Huge Room For Upside By Increasing Rents & Charging For Carports!! 28 Units Including 7 Townhome Style Apartments. 37 Parking Spaces 21 Are Carports. On Site Laundry Room & Additional Storage. Steps From Daytona's Premier Tourist Destinations: Oceanwalk, Boardwalk, Daytona Lagoon Water Park, The Convention Center, Hilton & Plaza Hotel & The Proposed *Hard Rock Hotel* Which Will Have A Tremendous Economic Impact In The Area. Long Term Tenants. Manager/Maintenance Person Lives On Site. 11 Units Have Been Extensively Renovated With Partial Tile, Kitchen & Bathroom Remodels While Other Units Were Remodeled & Maintained As Needed. Exceptional Location, Upside Potential, Occupancy, & Auto-Pilot Management System Make Thi

Supplements: s Investment An Excellent Choice. 9.97% Cap Rate. *Confidential Sale* - Do No Drive By Or Walk Through Property Unannounced.Offered As Packg. Deal With Oakwood Apts. As a 54 Unit Offering.

Listing Details MLS# 546478

General Property Information

Number Of Units Total: 28
Bedrooms Total: 50
Living Area: 23000
Year Built: 1973
Lot Size Dimensions: 40780
Association YN: No
Water Body Access YN: No
Directions: E On International Speedway To N On Atlantic Ave. W On Butler Blvd & N On Grandview. Property Is On E Side of Rd.
Public Remarks: Branches East Apts. & Townhomes 1Block From The Ocean. 90% Occupied With Huge Room For Upside By Increasing Rents & Charging For Carports!! 28 Units Including 7 Townhome Style Apartments. 37 Parking Spaces 21 Are Carports. On Site Laundry Room & Additional Storage. Steps From Daytona's Premier Tourist Destinations: Oceanwalk, Boardwalk, Daytona Lagoon Water Park, The Convention Center, Hilton & Plaza Hotel & The Proposed *Hard Rock Hotel* Which Will Have A Tremendous Economic Impact In The Area. Long Term Tenants. Manager/Maintenance Person Lives On Site. 11 Units Have Been Extensively Renovated With Partial Tile, Kitchen & Bathroom Remodels While Other Units Were Remodeled & Maintained As Needed. Exceptional Location, Upside Potential, Occupancy, & Auto-Pilot Management System Make Thi
List Price/SqFt: 54.78
Sold Price/SqFt: 52.17

Property Features

Appliances: Dishwasher; Disposal; Electric Range; Microwave; Refrigerator; Washer Construction Materials: Block; Concrete Cooling: Central Air Current Use: Multi-Family; Single Family Electric: 220 Volts Exterior Features: Other Fencing: Fenced Heating: Central Laundry Features: In Unit Lot Features: Sprinklers In Front; Sprinklers In Rear Owner Pays: Cable TV; Exterior Maintenance; Hot Water; Insurance; Management; Taxes; Trash Collection; Water Parking Features: Carport; Guest; Off Street; On Street; Parking Lot Roof: Shingle Sewer: Public Sewer View: Ocean Water Source: Public

Contract Information

Listing Contract Date: 2013-07-08
Property Sub Type: Multi Family

Location Tax and Legal

Street Number: 416
Street Direction Prefix: N
Street Name: Grandview
Street Suffix: Avenue
County: Volusia
State: FL
Postal Code: 32118
Subdivision Name: East Daytona
MLS Area Major: 14 - Daytona Peninsula S of Seabreeze

Status Change Information

Major Change Timestamp: 2013-10-29T17:21:20Z
Major Change Type: Status Change
Contingent Date: 2013-08-10
Close Date: 2013-10-29
Close Price: 1200000

Income and Expenses

Gross Income: 18200
Gross Scheduled Income: 207620
Net Operating Income: 119440

More Information

Unit 1 Details

Unit ID: 3
Actual Rent: 642
Unit SqFt: 1050
Full Baths Total: 2

Unit 2 Details

Unit ID: 6
Actual Rent: 550
Unit SqFt: 600
Full Baths Total: Yes

Unit 3 Details

Unit ID: 15
Actual Rent: 605
Unit SqFt: 825
Full Baths Total: Yes

Unit 4 Details

Unit ID: 4
Actual Rent: 968
Unit SqFt: 1100
Full Baths Total: Yes
Half Baths Total: Yes

Historical Information

Public Historical Remarks 1: Unit ID: 3, Furnished: Appliances; Unit ID: 6, Furnished: Appliances; Unit ID: 15, Furnished: Appliances; Unit ID: 4, Furnished: Appliances; Zoning (Text): MF; Financial Info: Other Annual Inc: 5400; Property Name: Branches East Apts.; Meters: # Electric Meters: 30, # Water Meters: 1; Financial Pkg: Yes; Franchise Opt In: Yes

Location, Tax, and Legal

Country: US
Parcel Number: 530501380110
Tax Annual Amount: 10670
Tax Year: 2012
Tax Legal Description: LOT 11 & W 175 FT OF LOTS 12 & 13 & S 24 FT OF W 175 FT OF LOT 14 BLK 38 EAST DAYTONA MB 2 PG 106 & INC LOT 6 EXC E 150FT & PORTION OF LOT 5 ADJ N/LY BLK 7 B & S SEABREEZE MB 2 PG187 PER OR 1686 PG 00

Currently Not Used

Bedrooms Total: 50
Living Area Source: Other
Building Area Total: 25000
Year Built: 1973
New Construction YN: No
Garage YN: No
Carport YN: Yes
Pool Private YN: No
Parking Total: 37

View

Ocean: Yes

Appliances

Dishwasher: Yes
Disposal: Yes
Electric Range: Yes
Microwave: Yes
Refrigerator: Yes
Washer: Yes

Construction Materials

Block: Yes
Concrete: Yes

Cooling

Central Air: Yes

Current Use

Multi-Family: Yes
Single Family: Yes

Electric

220 Volts: Yes

Exterior Features

Other: Yes

Fencing

Fenced: Yes

Heating

Central: Yes

Laundry Features

In Unit: Yes

Lot Features

Sprinklers In Front: Yes
Sprinklers In Rear: Yes

Owner Pays

Cable TV: Yes
Exterior Maintenance: Yes
Hot Water: Yes
Insurance: Yes
Management: Yes
Taxes: Yes
Trash Collection: Yes
Water: Yes

Parking Features

Carport: Yes
Guest: Yes
Off Street: Yes
On Street: Yes
Parking Lot: Yes

Roof

Shingle: Yes

Sewer

Public Sewer: Yes

Water Source

Public: Yes

Listing Office: Fl Property Broker Inc

Last Updated: September - 23 - 2024

Information deemed reliable but not guaranteed.

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