340 N Boston Ave, DeLand, FL 32724

Originally constructed in 1926 as a school, the current owner is completing the conversion into an upscale 29-unit apartment building, Assisted Living/Independent Living facility or Student Housing to accommodate students attending Stetson University, located ½ mile from this property.

Construction is expected to be completed within the 1^stQ of 2026.

Property includes:

• 4.27-Acres (2.25-Acres for Development)

• 29-Units/1-Building/1-Story/32,382 SF

• Built: 1926 Effective: 2026

• R-16

Upon completion, the owner plans to rent the units as apartment rentals, offering upscale services and capturing a higher than market rent. Twenty-seven of the units included include 1-bd/1bth, that capture an average market rent of $1500. Two units include 2-bds/1-Bth, that capture monthly rents over $2000.

In addition to the 29 rental units, the building includes a commercial kitchen/cafeteria, an auditorium (stage included), offices and lounge areas, making it a great candidate for Independent or Assisted Living, that capture an average rate of $4000/unit for IL and up to $8000/bed for AL.

The structure takes up approximately half of the property, leaving about 2.25-acres for further development that could include an additional 32 units.

Asking Price: Seller will consider all reasonable offers.

Seller Financing: Offered to Qualified Purchasers