Mixed-Use Land for Sale in DeFuniak Springs, Florida

1218 N 20th St DeFuniak Springs, FL 32433

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$2,050,000
2.16 acres
Active sale agoEst $16,170/mo

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.

Location

Street Address
1218 N 20th St
Elevation
249 feet
Coordinates
30.7388, -86.13

Property details

MLS Number
ECARMLS 956528
Date Posted

Parcels

  • 22-3N-19-19000-003-0042

Legal description

This 2.16-acre property is located at 1218 N 20th St in DeFuniak Springs, FL 32433 with latitude 30.7388 and longitude -86.13. The property is currently available for sale for $2,050,000 with a price per acre of $949,074. Listing data is sourced from Emerald Coast Association of Realtors # 956528.

Verify sale details at the property source or contact ERA American Real Estate at (850) 651-2454.

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Copyright (C) 2024 Emerald Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Updated . Checked 49 minutes ago. Parcel data by Regrid.

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