123 S Arlington Avenue, DeLand, Florida, 32724
SOLD! $289,990
Additional Details
- Important Details: --> Opportunity zone --> 2 units rented (1/1+loft 875/mo M2M & 1/1 $850/mo Section 8 leased until end of 05/24) --> NO HOA --> Walking distance to Stetson University! --> Roof replaced 2016
- Features: Great off market cash cow multi-family located in an excellent area of downtown DELAND! This triplex consists of 3 rental units: One (1/1+loft) unit and two (1/1) units, totaling 3 bedrooms and 3 bathrooms. Each unit has its own electric meter, a stove, refrigerator, microwave, living area, bedroom and bath. This property includes parking spaces and sits within walking distance of Stetson University, historic downtown, shopping, and ! restaurants. With minor touches, this investment will make the perfect income producingproperty!
- Potential ARV:: $350,000-$380,000
- Rehab Description: For a rental, keep the existing tenants in place and assume the monthly cashflow. The roof was replaced in 2016 and is in great condition. To maximize rent modernize the interior by updating the flooring, kitchen, baths, and fixtures/trim. Apply interior/exterior fresh paint, deep clean, and finish off with some landscaping to boost curb appeal.
- Estimated Rehab: $10,000-$15,000
- Estimated Rent: $2800-$3400/mo
- Ideal Investment Strategy: Rental/Resale
- Construction: CBS/FR
- Comp 1: 211 E Voorhis Ave. Deland, Fl 32724 Triplex (2/1, 1/1, Studio) 1877 SQFT 1929 Build PENDING @ $389,000 (Rented for a total of $3515/mo) (Smaller/some units updated/nonconforming)
- Comp 2: 910 N Amelia Ave. Deland, FL 32724 Quadplex (4-2/1's) 3168 SQFT PENDING @ $775,000 (Bigger/clean with some updates)
- Comp 3: 221 N Adelle Ave. Deland, FL 32720 Duplex (2-2/1s) 1681 SQFT 1973 Build SOLD @ $343,500 04/17/2024 (Rented for a total of $2825/mo) (Smaller/only 2 units/clean, but dated)
- Comp 4: 116 N Orange Ave. Deland, FL 32720 Duplex (2/1 & 4/1) 2000 SQFT 1937 Build SOLD @ $320,000 09/06/23 (Rented for a total of $2750/mo) (Only two units/clean with some updates)
- Hard Money: Pre-Approved by OPS Loans for up to 70% LTV – See OPS Loans Tab
