This is a remarkable 8-9% return opportunity to own a superior income producing property in the BOOMING Downtown Historical District of New Smyrna Beach. This 7 unit complex has been completely renovated throughout and has remained fully rented since completion. There are 2 units in the downstairs front building, 2 units on the second floor, a large loft apt on the third floor (3 two bedroom units and 1 one bedroom unit plus loft in this bldg). There are two 1 bedroom units in the backside building along with 4 rented private garage spaces available to the tenants. The fifth garage space houses the laundry facilities. The Mixed Use zoning in this location allow for many business uses and the property is approved for up to 10 total units. The garage space could be converted to 2 additional rental units. The renovations included new new roof on front building, new HVAC systems including ductwork throughout, new electrical panel upgrades, upgraded plumbing, new bathrooms, new flooring, upgraded appliances, new hot water heaters, new fixtures and ceiling fans.THIS IS A TURN KEY OPERATION that brings in substantial annual return. Perfect for a 1031 exchange buyer who needs a tax deferment.
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