$3,200,000
$3,200,000
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44 Beds
27 Baths
21,980 SqFt
SOLD DATE : 05/16/2024
Key Details
Sold Price $3,200,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 21,980 sqft
Price per Sqft $145
Subdivision Fitch Thomas Grant
MLS Listing ID R4907510
Sold Date 05/16/24
Bedrooms 44
Construction Status Financing
HOA Y/N No
Originating Board Stellar MLS
Year Built 1974
Annual Tax Amount $34,304
Lot Size 0.920 Acres
Acres 0.92
Lot Dimensions 207x194
Property Description
Oakwood is roughly 2 miles from the beach and is composed of 18 two bedroom one baths (900+/- SF), 8 one bedroom one baths (720+/- SF), and one 450+/- SF studio. While in place rents for the 1/1s are $1,059 per month, $1,150 has been achieved on recent leases and comps show $1,200 is the next target. The 2/1s are averaging in place $1,205/month, with recent leases at $1,275/month and a newly advertised rent of $1,299/month. The overall in place average rent is $1,156/month with the target market rent at $1,253/month. The flat roof was replaced 2015+/- and the mansard shingle portion was replaced in 2023. As with Sprucewood, almost $5,000/unit has been spent on capx, including shingles, HVAC units, water heaters, appliances, cabinets, countertops, flooring, and converting a storage room to the studio unit. Seller has another offering of 20 units available. See MLS #R4907511
Location
State FL
County Volusia
Community Fitch Thomas Grant
Zoning R-2
Interior
Interior Features Other
Heating Other
Cooling Other
Fireplace false
Laundry Other
Exterior
Exterior Feature Other
Utilities Available Other
Waterfront false
Roof Type Built-Up,Shingle
Garage false
Private Pool No
Building
Foundation Other
Lot Size Range 1/2 to less than 1
Sewer Public Sewer
Water Public
Structure Type Concrete
New Construction false
Construction Status Financing
Others
Senior Community No
Ownership Fee Simple
Special Listing Condition None
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