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1960 U.S. 90, Madison, FL 32340

HM
FL 3365463, FL FL 3365463
Charles Rutenberg Realty LLC
Listed by Charles Rutenberg Realty LLC
$300,000
16 days on market
Updated 16 days ago
Opportunity zone

Madison 12

Details
Property Type Multifamily
Square Footage 10,250
Acreage 5.500

100% Leased / $25k per door

Marketing description

Huge Upside!!! 12 units on 2 lots (5.088 acres) boasts 20 bedrooms and 14 full bathrooms. Three manufactured triplex's and a daycare are on one acre of the property, leaving over four acres available to add more livable units. Zoned, as of right to build up to 1 home per acre, with no max size limits. Folio also includes 127 SW MEETING AVE. , a 1552sq/ft two story duplex on a 0.058 acre lot. Monthly Gross = $6,737. Tenants pay utilities; Owner pays landscaping. No vacancies. Units are cash flowing and can be renovated to increase returns. 2700 sq/ft CBS House (zoned as daycare) rented well below market rates can be converted into another triplex. All tenants provide their own appliances(kitchen, A/C, etc. . . . ). Huge Upside; Many opportunities to convert from cash flow to a CASH COW! Motivated Seller! All reasonable offers will receive a prompt response. Make an offer today, won't last long!!! Seller financing could be extended to some buyers with appropriate terms.

Investment highlights

R1 zoning : Develop 1 house per acre, no max size constraints.

100% occupancy

16.12% High cap rate

Low price per door AND per square foot

Gross > $80k Annual

Tenants pay all utilities

5+ Acres

Listing Contacts

HM
FL 3365463, FL FL 3365463
Charles Rutenberg Realty LLC
Listed by Charles Rutenberg Realty LLC

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Additional Information

Name
Henry Mahan
License
3365463
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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