$779,900

206 Douglas Street

New Smyrna Beach FL, 32168

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 rented 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 approved for up to 10 total units. The garage space could be converted to 2 additional rental units. 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.

Details

MLS#1055472
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1903
Days On Site104

Features

Units7
Building(s)1

Market Activity 32168

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Area Information

StateFL
CountyVolusia
CityNew Smyrna Beach
Zip Code32168
AreaVolusia
Listing VS Median (in 32168)
Price:
$779,900
low | high
Med:
$249,900
100% of Average
On Site:
104
low | high
Med:
12.5
100% of Average
Listing Updated: 03/30/2020
MLS Number: 1055472
Listing Provided By:
Bryan Disbrow  of  Magnolia Properties