Mixed-Use Land for Sale in DeFuniak Springs, Florida
1218 N 20th St DeFuniak Springs, FL 32433
Investment Opportunity: 16-Unit Portfolio in DeFuniak Springs, Florida.
Pleased to present a remarkable investment opportunity, featuring a well-maintained portfolio of 16 units. This offering includes six duplexes, each with 2 bedrooms and 1 bathroom, encompassing 878 square feet, and one quadplex, with each unit featuring 2 bedrooms and 1 bathroom at 752 square feet. Priced at $2,050,000, this property promises exceptional investment potential.
The current owner is motivated to sell as he plans to develop a new apartment complex on his adjacent land. To facilitate a smooth transaction, he is open to offering attractive financing terms:
Down Payment: 30%
Interest Rate: 9%
Amortization: Over 30 years with a balloon payment due in 10 years.
The property currently generates a monthly rent of $15,625, and with the Resident Benefits Package, the total monthly tenant payments reach $16,215. (100% occupied)
The portfolio is professionally managed to ensure the property remains well-maintained, leading to consistent rental income and minimal vacancies.
Current management company would love to stay in place and offer their management services to the new owner, ensuring a seamless transition and continued high-quality management of the units.
Directions
From Hwy 90 in Defuniak, turn north on N 20th St. Properties are about 0.7 miles on the right.
Property details
- County
- Walton County
- Elevation
- 249 feet
- MLS Number
- ECARMLS 956528
- Date Posted
Legal description
THE N 115.10 FT OF E 125.00 FT OF W 391.00 FT OF SW1/4 OF SE1/4 SEC 22-3N-19W OR 2641-4733 OR 3022-4253 OR 3023-3834
Parcels
- 22-3N-19-19000-003-0042
Listing history
Date | Event | Price | Change | Source |
---|---|---|---|---|
Aug 9, 2024 | New listing | $2,050,000 | — | ECARMLS |