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The Barnett Group, Inc.
415 Vermont Avenue, Daytona Beach, FL 32118
- $345,000
- 8
- BD
- 4
- BA
- 2,540
- SqFt
- List Price
- $345,000
- Status
- Active
- MLS#
- O6419103
- Price Change
- ▼ $4,000 1792000345
- Property Type
- Quadruplex
- Bedrooms
- 8
- Bathrooms
- 4
- Living Area
- 2,540
- Lot Size
- 7,500
- Region
- Daytona Beach/Holly Hill
- Area
- 2540
- County
- Volusia
- Acres
- 0.17
- Year Built
- 1908
Property Description
Price improved, motivated seller, all reasonable offers considered. Beachside 4-unit just 2 blocks from the ocean, offered AS-IS. Legal nonconforming use: per city ordinance, the property must be rebuilt as single-family in the event of total destruction (property does not qualify for FHA or conventional multifamily financing). Ideal for cash or portfolio/commercial lenders. Pro-forma gross rent of $5,600+/mo. All four units are separately metered and tenants pay their own electric, leaving roughly $350/mo in water as the main landlord utility. Two units are vacant, ready to lease at market rates. The two rear units are leased month-to-month to long-term tenants at below-market rents of $900 and $1,050. A detached 1-car garage adds upside: convert it to a 5th efficiency, expand the adjoining unit, or rent it as storage (buyer to verify zoning and permitting). One tenant handles basic lawn care. Inspection reports available upon request. **Financials within this listing are Pro-Forma. 2 units are currently vacant. The two rear/garage units are currently leased Month-To-Month to long term tenants at below market rates of $900 and $1,050**
Additional Information
- Roof
- Shingle
- Land Type
- No Deed Restriction
- Zoning
- RES < 10
- Lot Size
- 7,500
- Construction
- Frame, Wood Siding
- Year Built
- 1908
- Sewer
- Public Sewer
- Heating
- Central, Electric, Ductless
- Subdivision
- Marshall Park Daytona Beach
- Living Area
- 2,540
Listing courtesy of SLOANE REALTY, LLC. 407-829-2418
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