Description
It sounds like a promising investment opportunity with that quadplex near Daytona Beach. The fact that it’s fully upgraded, fully occupied, and generating a good market rent is appealing. Plus, having separate meters and low maintenance is a big plus for landlords. A historical building from 1913 adds character and could potentially attract tenants who appreciate its charm.
With a cap rate of 8.33%, it seems like a solid return on investment, especially considering the low maintenance and fully occupied status. The recent roof replacement is another positive point, indicating that major maintenance expenses might be minimal soon. The Landlord currently pays the utilities $13560 per year for the tenant. New buyers can change it & charge the utilities to the tenants once the lease current is executed & increases the Cap rate.
If anyone’s interested, reaching out to the Vip Commercial Team at 407-453–3415 for more details seems like the next logical step. They could provide additional information on the property and potentially assist with any inquiries or transactions. Thanks for sharing this opportunity!