Deland, FL 32720,140 W MICHIGAN AVE
Deland, FL 32720,140 W MICHIGAN AVE
Deland, FL 32720,140 W MICHIGAN AVE
$785,000
Est. payment /mo
$825,000
4.8%
Est.Price: ?

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4,217 SqFt
SOLD DATE : 05/28/2024

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

Sold Date 05/28/24

HOA Y/N No

Originating Board Stellar MLS

Year Built 1925

Annual Tax Amount $6,330

Lot Size 0.400 Acres

Acres 0.4

Lot Dimensions 75x150

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

Interior Features Built-in Features, Ceiling Fans(s)

Heating Wall Units / Window Unit

Cooling Wall/Window Unit(s)

Flooring Carpet, Hardwood, Wood

Fireplace true

Appliance Microwave, Range, Range Hood, Refrigerator

Laundry Laundry Room, Outside

Exterior

Exterior Feature Other

Parking Features Common

Utilities Available Electricity Connected, Water Connected

Roof Type Shingle

Garage false

Private Pool No

Building

Lot Description Historic District, City Limits, Level, Near Public Transit, Oversized Lot, Paved

Entry Level Three Or More

Foundation Crawlspace

Lot Size Range 1/4 to less than 1/2

Sewer Public Sewer

Water Public

Structure Type Wood Frame

New Construction false

Others

Senior Community No

Ownership Fee Simple

Acceptable Financing Cash, Conventional, Other

Listing Terms Cash, Conventional, Other

Special Listing Condition None

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Stellar MLS
Listed by HUGHES HOMES REALTY
Bought with KEMP REALTY GROUP

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agent

Maritza Nieves

+1(321) 525-1521

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