Active

300 N CHURCH ST #All Units

BUNNELL FL, 32110

$799,900


$214.39 per sqft

Active

7 Beds

6 Baths

3,731 sqft

Multi-family

Built in 1997

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.

FC302326

MLSⓇ ID

August 4, 2024

Listed

November 22, 2024

Updated

Map

300 N CHURCH ST #All Units
BUNNELL FL, 32110

Interior Features

Total Stories

2


Bedrooms

7


Total Bathrooms

6


Interior Features

Attic Fan, Ceiling Fans(s), Eat-in Kitchen, Open Floorplan, Solid Wood Cabinets, Thermostat


Appliances

Electric Water Heater, Range, Refrigerator


Laundry Description

Electric Dryer Hookup, Laundry Room, Washer Hookup


Floor Description

Luxury Vinyl, Tile


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Central, Electric, Heat Pump

Exterior/Building Features

Lot Size

0.36 Acres


Exterior Features

Balcony, Lighting, Private Mailbox, Rain Gutters, Storage


Lot Features

Corner Lot, City Limits, Level, Oversized Lot, Paved


Roof

Metal


Sewer

Public Sewer

School Information

High School

Flagler-Palm Coast High


Elementary School

Bunnell Elementary

Other Property Details

Area Name

32110 - Bunnell


Taxes

$8,161


Tax Frequency

Annually


Days on Market

57


Association Fee Frequency

Monthly


Garage

Yes


Garage Spaces

2


Parking

Assigned, Ground Level, Off Street


View

No


County

Flagler


Municipality

12


Water Source

Public


Pool

No


Zoning

R-1

Listed by BETTER BUY REALTY, LLC
Listing Contact: PROPERTY INFO: 386-753-4839 

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Data last updated 11/22/2024, 7:26 AM UTC

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