Here’s your opportunity to own seven single-family block homes in the beautiful city of Deland, along with a vacant lot. Each unit consists of two bedrooms and one bathroom separately metered for water and electricity, with some homes recently remodeled. Some units contain their own septic tanks; however, most are connected to city sewage. All homes are individually parceled and collectively put together by the public appraisers for tax purposes and billing.
Currently, it’s cash flowing, with all units being occupied under market rent for a monthly total of $6,150. Market rent in the area is estimated to be about $1,100 per month. By committing to cosmetic renovations to the rest of the units, you can increase your return for $7,700 a month or $92,400 annual gross income. The current after repair value is about $125,000 per home, giving this a fantastic package value of $875,000. For more information on this rare multifamily package, contact us today.