508 Lenox Avenue, Daytona Beach, FL 32118
$850,000
Property Type:
Residential Income
Bedrooms:
10
Square Footage:
5,680
Status:
Closed
Current Price:
$850,000
List Date:
3/14/2018
Last Modified:
9/23/2024
Description
ONE OF THE BEST, Beachside, Renovated, 8 Unit, purpose built, apartment buildings, with ocean views from viewing down the block in a great area. This is one of the nicest Apartment buildings on the beachside, located on a street with mostly single family homes, in one of the nicest locations. Such a property as this is rarely is offered for sale. Some of the recent upgrades include most of the units having custom kitchens with newer stainless steel appliances, updated bathrooms, with updates to the plumbing and electrical including as well as a majority of the units have newer central Air/Heat units. Tenants enjoy the tropical garden landscaping with the imported bamboo trees and tranquil settings.
Supplements: The property currently has a long term tenant, who has lived there for years and knows the building well as he is on sight property keeper/handyman which is an added bonus. He keeps a watchful eye on this gem making this a great investment for an out of state investor. All information deemed to be true but not guaranteed and must be verified by potential buyer. 100% occupied.... There is a 1st mortgage in the approx. amount of $194,000 currently on the property that "May" be assumable that balloons in approx 7 years. The payments on the mortgage are as follows $1200 a month with $1000 going to principal and $200 flat fee for interest.(Previously was a seller held mortgage) Do the math, that's like just over 1.5% interest rate at this time. Measurements are approx and rents are proforma.
More Information MLS# 1040602
Location, Tax, and Legal
Country: US
Parcel Number: 5309-26-02-0150
Tax Annual Amount: 6739
Tax Year: 2017
Zoning Description: Other
Tax Legal Description: LOT 14 EXC E PART BEING 35 FT ON N LINE & 46.15 FT ON S LINE & LOT 15 BLK B OLIVER TERRACE ATLANTIC CITY PER OR 4894 PGS 2618-2619 PER OR 6602 PG 2361 PER OR 7190 PG 3120
Currently Not Used
Bedrooms Total: 10
Living Area Source: Appraiser
Building Area Total: 5680
Year Built: 1971
New Construction YN: No
Carport YN: No
Pool Private YN: No
General Property Information
Living Area: 5280
Number Of Units Total: 8
Association YN: Yes
Association Fee 2: 0
Directions: From International Speedway and A1A, go south on A1A, make right on Lenox Ave, building on left
Public Remarks: ONE OF THE BEST, Beachside, Renovated, 8 Unit, purpose built, apartment buildings, with ocean views from viewing down the block in a great area. This is one of the nicest Apartment buildings on the beachside, located on a street with mostly single family homes, in one of the nicest locations. Such a property as this is rarely is offered for sale. Some of the recent upgrades include most of the units having custom kitchens with newer stainless steel appliances, updated bathrooms, with updates to the plumbing and electrical including as well as a majority of the units have newer central Air/Heat units. Tenants enjoy the tropical garden landscaping with the imported bamboo trees and tranquil settings.
Water Body Access YN: No
List Price/SqFt: 179.92
Sold Price/SqFt: 160.98
Bedrooms Total: 10
Year Built: 1971
Appliances
Electric Range: 1
Microwave: 1
Refrigerator: 1
Construction Materials
Block: 1
Concrete: 1
Cooling
Central Air: 1
Current Use
Multi-Family: 1
Exterior Features
Balcony: 1
Fencing
Fenced: 1
Heating
Central: 1
Income and Expenses
Gross Income: 7090
Gross Scheduled Income: 87480
Listing Terms
Assumable: 1
Owner Pays
Insurance: 1
Taxes: 1
Trash Collection: 1
Water: 1
Parking Features
Off Street: 1
Parking Lot: 1
Roof
Other: 1
Sewer
Public Sewer: 1
Tenant Pays
Electricity: 1
Unit 1 Details
Unit ID: 2
Actual Rent: 850
Beds Total: 1
Full Baths Total: 1
Unit 2 Details
Unit ID: 3
Actual Rent: 850
Beds Total: 1
Full Baths Total: 1
Unit 3 Details
Unit ID: 4
Actual Rent: 850
Beds Total: 1
Full Baths Total: 1
Unit 4 Details
Unit ID: 6
Actual Rent: 850
Beds Total: 1
Full Baths Total: 1
Unit 5 Details
Unit ID: 7
Actual Rent: 850
Beds Total: 1
Full Baths Total: 1
Unit 6 Details
Unit ID: 8
Actual Rent: 850
Beds Total: 1
Full Baths Total: 1
Unit 7 Details
Unit ID: 1
Actual Rent: 995
Beds Total: 2
Full Baths Total: 1
Unit 8 Details
Unit ID: 5
Actual Rent: 995
Beds Total: 2
Full Baths Total: 1
Water Source
Public: 1
Historical Information
Public Historical Remarks 1: Financial Info: Other Annual Inc: 2400; Property Name: Lenox Villas; Meters: # Electric Meters: 9, # Water Meters: 1; Road Frontage: 77; Depth: 120; Financial Pkg: No; Franchise Opt In: No
Contract Information
Current Price: $850,000
Sold Price: $850,000
Status: Closed
Listing Contract Date: 2018-03-13
Property Sub Type: Multi Family
Location Tax and Legal
Street Number: 508
Street Name: Lenox
Street Suffix: Avenue
County: Volusia
State: FL
Postal Code: 32118
Subdivision Name: Atlantic City
MLS Area Major: 14 - Daytona Peninsula S of Seabreeze
Status Change Information
Major Change Timestamp: 2018-08-15T13:14:33Z
Major Change Type: Status Change
Purchase Contract Date: 2018-04-05
Close Date: 2018-08-15
Close Price: 850000
Property Features
Appliances: Electric Range; Microwave; Refrigerator
Construction Materials: Block; Concrete
Cooling: Central Air
Current Use: Multi-Family
Exterior Features: Balcony
Fencing: Fenced
Heating: Central
Listing Terms: Assumable
Owner Pays: Insurance; Taxes; Trash Collection; Water
Parking Features: Off Street; Parking Lot
Roof: Other
Sewer: Public Sewer
Tenant Pays: Electricity
Water Source: Public
Listing Office:
Marlin Realty Group
Last Updated: September - 23 - 2024
Information deemed reliable but not guaranteed.