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300 N CHURCH STREET All Units

Multi-family For Sale
$799,900

BTC: 9.07414766

ETH: 242.39393939

100 days
7 bds
3,731 sqft
Est. Estimated sales range: $0 - $0
$0

Overview

Here's your chance to own an income-producing property that's an exceptional investment opportunity in the popular and vibrant Flagler County area of northeast Florida. This multi-family property currently offers 5 units (A, B, C, D, E-#302) with a total square footage of 4910, consisting of 2 buildings constructed in 1924, one in 1997, and major renovations completed in 2018. The property has been meticulously maintained and offers several amenities for the residents, with the potential for even more. Situated in the City of Bunnell, the seat of government for Flagler County and one of the fastest growing counties in Florida, this property enjoys proximity to major transportation routes, shopping centers, dining options, schools, and recreational facilities. The area boasts a robust rental market with high demand for multi-family housing, ensuring consistent occupancy rates and rental income. In fact, since November 2018, the vacancy rate has been a VERY LOW 1.31%, with ZERO EVICTIONS and just four turnovers, indicating TENANT SATISFACTION as well as successful and profitable tenancies (two units have had the same tenants for 6 years!). Each unit is equipped with climate control, modern appliances, vinyl plank or porcelain tile flooring, and privacy, providing residents with comfort and convenience, as well as SEPARATE METERS for the ELECTRIC and the WATER/TRASH/SEWAGE (which means the TENANT PAYS FOR THEIR OWN UTILITIES!!). There are two locked Laundry Rooms on the premises, which currently are used by the owners in Unit E-#302 and Unit A tenants (Tenant-Owned Washer/Dryer in Unit A Laundry Room; Washer/Dryer in Unit E-#302 conveys with the property). Future use could include coin-operated machines in one or both Laundry Rooms and access for all tenants on the premises, generating additional income opportunities. Four units are occupied by tenants, with rents ranging from $900 to $1475 ($4875/month total). The owners occupy the fifth unit, which can be rented for $1275 to $1395 or more; there is a 2 Car Garage, Storage, and a Private Laundry Room under the unit that adds extra value to the rental. With $1275 for Unit E-#302, the current rents are $6150 per month for $73,800 Gross Rent Income, and Net Operating Income of $50,551 (includes property taxes, insurance, and 8% property management fees). Market Rent--conservatively forecasted--for all 5 units is $6875 for a total of $82,500 Gross Rent Income per year. Manage the property yourself and the potential NOI is $61,920+ per year! For an Offering Memorandum Brochure that provides more details and financial information on this investment property, please ask your agent to download the document directly from the MLS or request it from the listing agent if you're not represented by a buyer's agent. This is a well-maintained property that has undergone regular maintenance and updates, ensuring a desirable living environment and maximizing tenant satisfaction. It's a compelling investment opportunity that comes with strong cash flow potential and capital appreciation in the thriving Flagler County rental market. Its prime location, amenities, and solid financial performance makes this multi-family property an ideal addition to any investment portfolio.

Location

Facts and features

Type:
Residential Income
Parking:
Assigned / Ground Level / Off Street
Year Built:
1997
Lot:
0.36 Acres
Heating:
Central / Electric / Heat Pump
Price/sqft:
$214
Cooling:
Central Air
HOA:
No Data
All facts and features
  • Flooring

    • Luxury Vinyl

    • Porcelain Tile

    Heating

    • Central

    • Electric

    • Heat Pump

    Cooling

    • Central Air

    Appliances

    • Electric Water Heater

    • Range

    • Refrigerator

    Other interior features

    • Attic Fan

    • Ceiling Fan(s)

    • Eating Space In Kitchen

    • Open Floorplan

    • Solid Wood Cabinets

    • Thermostat

    Bedrooms and bathrooms

    • Bedrooms: 7

  • Parking

    • Assigned

    • Ground Level

    • Off Street

    Property

    • Levels: Two

    • Exterior Features: Balcony / Lighting / Private Mailbox / Rain Gutters / Storage

    Lot

    • Lot: 0.36 Acres

    Other Property Information

    • Parcel Number: 1012300850013600010

    • Zoning: R-1

  • Type and style

    • Property Type: Residential Income

    • Property Sub Type: Multi Family

  • Utility

    • Electricity Connected

    • Public

    • Sewer Connected

    • Water - Multiple Meters

    • Water Connected

  • Other financial information

    • Annual tax amount: $8,161

  • Source details

    • MLS ID: FC302326

    Other facts

    • Construction Materials: Concrete / Stucco / Wood Frame

    • Foundation Details: Crawlspace / Slab

    • Laundry Features: Electric Dryer Hookup / Laundry Room / Washer Hookup

    • Lot Features: Corner Lot / City Lot / Level / Oversized Lot

    • Patio And Porch Features: Covered / Deck / Enclosed / Front Porch / Porch / Screened / Side Porch

    • Window Features: Blinds / Double Pane Windows

    • Garage Spaces: 2

    • Attached Garage: Yes

    • Garage: Yes

    • Living Area: 3731

    • Water Source: Public

    • Subdivision Name: TOWN/BUNNELL

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The multiple listing information is provided by the Stellar MLS from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024-present Stellar MLS. All Rights Reserved. The information provided is for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Listing courtesy of: BETTER BUY REALTY, LLC