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140 W MICHIGAN AVE Deland, FL 32720
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Key Details
Sold Price $785,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 4,217 sqft
Price per Sqft $186
Subdivision Rogers Deland
MLS Listing ID O6194234
Year Built 1925
Annual Tax Amount $6,330
Lot Size 0.400 Acres
Property Description
Here is an exceptional investment opportunity that would be a remarkable addition to your investment portfolio. Situated in the highly sought-after locale of Deland, a mere stone's throw away from Stetson University and the award-winning Downtown Deland, this property stands as a prime investment in the flourishing rental market of Central Florida.
This turnkey property is comprised of six units, with five units located within the main house, each benefiting from individual electrical meters, and an additional separate building to the rear. The anticipated current rental income is projected to exceed $81,000 annually, underlining the lucrative nature of this investment.
Significant improvements have been made to enhance the property's value and appeal, including a comprehensive electrical overhaul completed within the past year and a roof replacement in 2017, among various other updates. Its enviable location in the vibrant Downtown area ensures that residents enjoy convenient access to a wide array of dining, shopping, and entertainment options, further enhancing its attractiveness to potential renters.
This investment opportunity represents an excellent acquisition for those looking to diversify and strengthen their investment portfolio through the addition of a high-yield asset in a desirable and dynamic location.
Location
State FL
County Volusia
Community Rogers Deland
Zoning 05R3
Interior
Heating Wall Units / Window Unit
Cooling Wall/Window Unit(s)
Flooring Carpet, Hardwood, Wood
Laundry Laundry Room, Outside
Exterior
Exterior Feature Other
Parking Features Common
Utilities Available Electricity Connected, Water Connected
Roof Type Shingle
Building
Lot Description Historic District, City Limits, Level, Near Public Transit, Oversized Lot, Paved
Foundation Crawlspace
Sewer Public Sewer
Water Public
Structure Type Wood Frame
New Construction false
Others
Acceptable Financing Cash, Conventional, Other
Listing Terms Cash, Conventional, Other
Special Listing Condition None
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Bought with KEMP REALTY GROUP