140 W Michigan Avenue, Deland, FL 32720
- $785,000
- 4,217
- SqFt
- Sold Price
- $785,000
- List Price
- $825,000
- Status
- Sold
- Days on Market
- 16
- Closing Date
- May 28, 2024
- MLS#
- O6194234
- Property Style
- Multi-Family
- Year Built
- 1925
- Living Area
- 4,217
- Lot Size
- 17,250
- Acres
- 0.40
- Total Acreage
- 1/4 to less than 1/2
- Legal Subdivision Name
- Rogers Deland
- MLS Area Major
- Deland
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.
/u.realgeeks.media/homesinorlando/NextHome-Neighborhood-Realty-Logo-Horizontal-OrangeOnWhite-Web-RGB.jpg){kind=logo}
Additional Information
- Taxes
- $6330
- Minimum Lease
- No Minimum
- Location
- Historic District, City Limits, Level, Near Public Transit, Oversized Lot, Paved
- Community Features
- No Deed Restriction
- Property Description
- Three+ Story
- Zoning
- 05R3
- Interior Layout
- Built-in Features, Ceiling Fans(s)
- Interior Features
- Built-in Features, Ceiling Fans(s)
- Floor
- Carpet, Hardwood, Wood
- Appliances
- Microwave, Range, Range Hood, Refrigerator
- Utilities
- Electricity Connected, Water Connected
- Heating
- Wall Units / Window Unit
- Air Conditioning
- Wall/Window Unit(s)
- Fireplace
- Yes
- Exterior Construction
- Wood Frame
- Exterior Features
- Other
- Roof
- Shingle
- Foundation
- Crawlspace
- Pool
- No Pool
- Garage Features
- Common
- Flood Zone Code
- x
- Parcel ID
- 7009-01-10-0090
- Legal Description
- E 115 FT OF N1/2 OF LOT 9 BLK 10 DELAND PER OR 4001 PG 4899 PER OR 7399 PG 2221
Listing courtesy of HUGHES HOMES REALTY. 407-557-8775
Selling Office: KEMP REALTY GROUP.Mortgage Calculator
StellarMLS is the source of this information via Internet Data Exchange Program. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale. Availability of any listing should always be independently verified. Listing information is provided for consumer personal, non-commercial use, solely to identify potential properties for potential purchase. All other use is strictly prohibited and may violate relevant federal and state law. Data last updated on