$240,000
$260,000
7.7%For more information regarding the value of a property, please contact us for a free consultation.
1,992 SqFt
SOLD DATE : 06/18/2021
Key Details
Sold Price $240,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Square Footage 1,992 sqft
Price per Sqft $120
Subdivision Cocoa Annex Rep 02
MLS Listing ID U8109941
Sold Date 06/18/21
HOA Y/N No
Year Built 1962
Annual Tax Amount $2,805
Lot Size 7,405 Sqft
Acres 0.17
Property Description
Great Quadraplex - $2,450 a month income. All units rented on 12 month leases. Owner pays water/trash $260/Mo, Separate electric meters
New 5 year old metal roof, good long term tenants, sidewalks, municipal electric, water and sewer.
Rent study shows rents should be at $750-$800 but we are selling at this price because the rents are currently at $600-$650.
Income $2,450.
Water/Trash bill is $260 a month.
Taxes are-$2805.
Insurance $1800.
Around $643 in expenses monthly.
Very simple property. Income minus tax, Insurance, water.
That is all of the expenses.
One unit has recently been updated. Two other units have been repainted and flooring changed.
I do not have additional photo's, you can walk the property and inspect in due Dilligence.
Great location with a community garden next door. Child care center two properties over.
Sams Club, Merritt Square Mall, Home Depot all within 1/4 mile. Ulamay Wildlife Sanctuary, Cocoa Beach, Pine Park & Provost Park nearby.
All room sizes and numbers are from the property appraisers office or estimated - each buyer should quantify and inspect for themselves to verify. Drive by but do not disturb tenants.
No seller finance
Cash/convientional Financing welcome as usual
Looking for a 1% in Florida? 8.7 Cap Rate Great Quadraplex - $2,450 a month income, Expenses $660 a month including water, tax & Insurance.? Owner pays water/trash of $260 a month.? The This property is well under rented.? Area rents are $850 and up but we are selling for what brings in now.? $2,450 x 100 = $245,000 but we are firm.?
Income $29,400
Expenses - $7,920
NOI - $21,480
25% Down - $61,250
Cash on Cash return 16%
Location
State FL
County Brevard
Community Cocoa Annex Rep 02
Zoning RU215
Interior
Interior Features Ceiling Fans(s)
Heating Wall Units / Window Unit
Cooling Wall/Window Unit(s)
Furnishings Unfurnished
Fireplace false
Appliance Electric Water Heater, Freezer, Ice Maker, Range, Refrigerator
Exterior
Exterior Feature Fence
Parking Features Assigned
Utilities Available Cable Connected, Electricity Connected, Other, Public, Sewer Connected, Water Connected
View Trees/Woods
Roof Type Shingle
Garage false
Private Pool No
Building
Lot Description City Limits, Near Public Transit
Entry Level One
Foundation Slab
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Structure Type Block
New Construction false
Others
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional
Membership Fee Required None
Listing Terms Cash, Conventional
Special Listing Condition None
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