Listed by 100UNits.com
$850,000
Stetson Apartments
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 7,289
Units 10
Pro-Forma Cap Rate 9.00%
Pro-Forma NOI $77,033
Price per SqFt $117
Buildings 2
Stories 2
Acreage 0.500
Investment Type Value Add
Multifamily | 10 Units | $85,000/unit
Marketing description
100Units.com presents Stetson Apartments. The property consists of two 2-story buildings. The unit mix is two studios, four 1 bed 1 bath units, three 2 bed 1 bath unit, and one 2 bed 1.5 bath unit. The rents are currently well below market. The property's location benefits from proximity to major employers, including a newly developed Amazon distribution center just over eight miles away, supporting continued demand and rent growth. Stetson Apartments historically boasts high occupancy, making it an ideal choice for investors seeking stable cash flow with future upside through continued rent optimization.
Investment highlights
- Value Add Rental Upside
- Priced Well Below Replacement Cost
- Separately Metered for Electric
- 1.5 Miles to Stetson University
- 8.1 Miles to AMAZON Distribution Center
- Walking Distance to Downtown DeLand
Listing Contacts
Listed by 100UNits.com
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