607 N Ocean Shore Blvd, Flagler, FL 32136

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Auction
$399,900 Estimated Value
Off Market
 
Listing ID 10527228
Property Type Multi-Unit (5+)
County Flagler
Tax ID 12-12-31-4500-00020-0090
FEMA Flood Map fema.gov/portal
   
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Multi-Family 5 Unit Auction September 22nd @ 12 noon at Property

Potential AirBnb/ VRBO Monster!!! Breathtaking Ocean views:ONLINE AUCTION ONLY Sept 22nd Offers Accepted Prior to Auction,Call agent for Auction terms & Process.Property has the potential to generate $144K Gross at $100 average a night and at 80% occupancy. Rents can go as high as $300 a night during Daytona bike week! Potential to generate a 12-15% net return on investment as a nightly rental. (5) separate electric meters for monthly rental. Tons of upside and appreciation potential. Needs TLC. Located 40 minutes away from St Johns County, the 2nd Wealthiest County in the State of Florida. Don't MISS this RARE Beachfront Multi-Family opportunity. No contingencies on Financing. Call agent for terms. Hard Money Loans excepted and provided if needed at 10-12% depending on down payment. Sold AS-IS call for combo code.
Auction Details
Property Details
  • 1 Full Bath
  • 1836 SF
  • 0.01 Acres
  • 4530 SF Lot
  • 3 Stories
  • Available 8/21/2018
  • Renovation: RARE OPPORTUNITY for 5 unit multi-family unit in the 2nd wealthiest county in the state of Florida. Needs TLC. Breathtaking views of direct Ocean with zero obstruction.
Unit Information
Unit #1 – Gross Area: 1836, Net Leasable Area: 1836, Rent Price: 600, Bedrooms: 5, Full Baths: 1, Occupied
Interior Features
  • Ceramic Tile Flooring
  • Central A/C
Exterior Features
  • Frame Construction
  • Wood Siding
  • Asphalt Shingles Roof
  • Municipal Water
  • Municipal Sewer
  • Water View
  • Ocean View
  • Ocean Waterfront
  • Water Frontage: Yes
Commercial Info
  • Sugarman Real Estate Corp. (Business Name)
  • 5 Parking Spaces
  • 12% Cap. Rate
  • Oceanfront Multi-Family
Income/Expenses
  • Gross Income $144,000
  • Net Income $101,407
  • Operating Exp $42,593
  • Total Exp $42,593
Taxes and Fees
  • HOA: n/a
  • Dev: n/a
  • HOA Contact: n/a
Previously Listed By
Shannon Grasso
SUGARMAN REAL ESTATE CORP
Office: 954-684-8610
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