300 N CHURCH ST #All Units Active Save Request In-Person Tour Request Virtual Tour
Bunnell,FL 32110
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,731 sqft
Price per Sqft $214
Subdivision Town/Bunnell
MLS Listing ID FC302326
Bedrooms 7
HOA Y/N No
Originating Board Stellar MLS
Year Built 1997
Annual Tax Amount $8,161
Lot Size 0.360 Acres
Acres 0.36
Property Description
Here's your chance to own an income-producing property that's an exceptional investment opportunity in the popular and vibrant Flagler County area of northeast Florida. This multi-family property currently offers 5 units (A, B, C, D, E-#302) with a total square footage of 4910, consisting of 2 buildings constructed in 1924, one in 1997, and major renovations completed in 2018. The property has been meticulously maintained and offers several amenities for the residents, with the potential for even more. Situated in the City of Bunnell, the seat of government for Flagler County and one of the fastest growing counties in Florida, this property enjoys proximity to major transportation routes, shopping centers, dining options, schools, and recreational facilities. The area boasts a robust rental market with high demand for multi-family housing, ensuring consistent occupancy rates and rental income. In fact, since November 2018, the vacancy rate has been a VERY LOW 1.31%, with ZERO EVICTIONS and just four turnovers, indicating TENANT SATISFACTION as well as successful and profitable tenancies (two units have had the same tenants for 6 years!). Each unit is equipped with climate control, modern appliances, vinyl plank or porcelain tile flooring, and privacy, providing residents with comfort and convenience, as well as SEPARATE METERS for the ELECTRIC and the WATER/TRASH/SEWAGE (which means the TENANT PAYS FOR THEIR OWN UTILITIES!!). There are two locked Laundry Rooms on the premises, which currently are used by the owners in Unit E-#302 and Unit A tenants (Tenant-Owned Washer/Dryer in Unit A Laundry Room; Washer/Dryer in Unit E-#302 conveys with the property). Future use could include coin-operated machines in one or both Laundry Rooms and access for all tenants on the premises, generating additional income opportunities. Four units are occupied by tenants, with rents ranging from $900 to $1475 ($4875/month total). The owners occupy the fifth unit, which can be rented for $1275 to $1395 or more; there is a 2 Car Garage, Storage, and a Private Laundry Room under the unit that adds extra value to the rental. With $1275 for Unit E-#302, the current rents are $6150 per month for $73,800 Gross Rent Income, and Net Operating Income of $50,551 (includes property taxes, insurance, and 8% property management fees). Market Rent--conservatively forecasted--for all 5 units is $6875 for a total of $82,500 Gross Rent Income per year. Manage the property yourself and the potential NOI is $61,920+ per year! For an Offering Memorandum Brochure that provides more details and financial information on this investment property, please ask your agent to download the document directly from the MLS or request it from the listing agent if you're not represented by a buyer's agent. This is a well-maintained property that has undergone regular maintenance and updates, ensuring a desirable living environment and maximizing tenant satisfaction. It's a compelling investment opportunity that comes with strong cash flow potential and capital appreciation in the thriving Flagler County rental market. Its prime location, amenities, and solid financial performance makes this multi-family property an ideal addition to any investment portfolio.
Location
State FL
County Flagler
Community Town/Bunnell
Zoning R-1
Interior
Interior Features Attic Fan,Ceiling Fans(s),Eat-in Kitchen,Open Floorplan,Solid Wood Cabinets,Thermostat
Heating Central,Electric,Heat Pump
Cooling Central Air
Flooring Luxury Vinyl,Tile
Fireplace false
Appliance Electric Water Heater,Range,Refrigerator
Laundry Electric Dryer Hookup,Laundry Room,Washer Hookup
Exterior
Exterior Feature Balcony,Lighting,Private Mailbox,Rain Gutters,Storage
Parking Features Assigned,Ground Level,Off Street
Garage Spaces 2.0
Utilities Available Electricity Connected,Public,Sewer Connected,Water - Multiple Meters,Water Connected
Roof Type Metal
Porch Covered,Deck,Enclosed,Front Porch,Porch,Screened,Side Porch
Attached Garage true
Garage true
Private Pool No
Building
Lot Description Corner Lot,City Limits,Level,Oversized Lot,Paved
Entry Level Two
Foundation Crawlspace,Slab
Lot Size Range 1/4 to less than 1/2
Sewer Public Sewer
Water Public
Structure Type Concrete,Stucco,Wood Frame
New Construction false
Schools
Elementary Schools Bunnell Elementary
Middle Schools Buddy Taylor Middle
High Schools Flagler-Palm Coast High
Others
Pets Allowed Yes
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash,Conventional,FHA,VA Loan
Listing Terms Cash,Conventional,FHA,VA Loan
Special Listing Condition None