$779,900
206 Douglas Street
New Smyrna Beach, FL 32168
MLS# 1065713
10 beds  |  6548 sqft


206 Douglas Street, New Smyrna Beach, FL 32168
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Property Description
This is a remarkable 8-9% return opportunity to own a superior income producing property in the BOOMING Downtown Historical District of New Smyrna Beach. This 7 unit complex has been completely renovated throughout and has remained fully rented since completion. There are 2 units in the downstairs front building, 2 units on the second floor, a large loft apt on the third floor (3 two bedroom units and 1 one bedroom unit plus loft in this bldg). There are two 1 bedroom units in the backside building along with 4 rental private garage spaces available to the tenants. The fifth garage space houses the laundry facilities. The Mixed Use zoning in this location allow for many business uses and the property is zoned for up to 10 total units.

Details
Maps
Contract Information
Listing Date: 2019-12-18
List Price: $779,900
List Price/SqFt: 119.11
List Price/Acre: 4332777.78
Current Price: $779,900
Location, Tax & Legal
Street #: 206
Street Name: Douglas
Street Suffix: Street
County: Volusia
State/Province: FL
Zip Code: 32168
Area: 70 - New Smyrna Beach E of 95
Style: 5+ Units
Tax ID: 7441-38-10-0980
Homestead Exempt: No
Directions: From US 1 and Canal St go E on Canal to Magnolia, R to Douglas, R to 206 on the L
General Property Description
Number of Units: 7
Bedrooms: 10
# Parking Spcs: 10
Supra: No
Living Area: 6548
SqFt - Total: 8343
SqFt Source: Property Appraiser
A/V Surveillance: No
Acreage: 0.18
Year Built: 1903
New Builder Home: No
As Is Cond: Yes
Special Contingency: No
Zoning: Multi-Family
Zoning (Text): MU
Subdivision: Not On The List
Property Name: Andrews New Smyrna
Financial Pkg: No
Maint Fee Paid: N/A
Lot SqFt: 7766
Road Frontage: 59
Depth: 150
Franchise Opt In: No
Status Change Info
Status: Active
Financial Info
Gross Monthly Rent: 6800
Gross Income: 81600
Meters
# Electric Meters: 7
# Water Meters: 1
Property Features
Building Type: Apartment Building
Construction: Stucco Cover; Wood Frame
Land Type: 5 - 10
Waterfront: None
Utilities on Site: Bottled Gas
Air Conditioning: Central; Heat Pump
Heating: Central; Electric
Appliances: Dishwasher
Parking: Off Street; Parking Lot
Roof: Composition Shingle; Rolled
Inside: Ceiling Fans; Common Laundry; Smoke Detector
Outside: Balcony/Decking
Tenant Pays: Cable TV; Electric; Insurance Interior
Owner Pays: Gas; Insurance Exterior; Maintenance Exterior; Water
Sewer: Public Sewer
Special Conditions: None
Supplements
The renovations included new new roof on front building, new HVAC systems including ductwork throughout, new electrical panel upgrades, upgraded plumbing, new bathrooms, new flooring, upgraded appliances, new hot water heaters, new fixtures and ceiling fans.THIS IS A TURN KEY OPERATION that brings in substantial annual return. Perfect for a 1031 exchange buyer who needs a tax deferment. Shown by appt only.

Listing Office: Magnolia Properties

Last Updated: March - 24 - 2020

Listing data provided by the Daytona Beach Area Association of REALTORS®' Internet Data Exchange (IDX) program. Data is believed to be accurate but not warranted.

Monday 6th of April 2020 07:23 AM