$355,000
$295,900
20.0%For more information regarding the value of a property, please contact us for a free consultation.
4,003 SqFt
SOLD DATE : 05/26/2021
Key Details
Sold Price $355,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 4,003 sqft
Price per Sqft $88
Subdivision Sunnyland Heights
MLS Listing ID 711450
Sold Date 05/26/21
HOA Y/N No
Year Built 1977
Lot Size 0.390 Acres
Acres 0.39
Property Description
10 one bedroom units, with one unit being a disability unit. There are 5 rentable units & 5 units gutted down to the studs ready for remodeling. Of the 5 rentable units only 3 are rented. 2 are being freshened up after being vacated. The 3 current rents are $800, $700 long time tenant, & $705/m also a long time tenant. HUD currently pays $933/m for one bedroom rentals. Owner currently pays trash, $40 of water, & $65 of Electric. 5 units should produce approx. $4,005/m @ $700, $705, $800, $900, & $900. Less utilities of $725 for PGI without utilities of $3,280. Using a rent multiplier of 100 reflects a value of $328,000. Plus there are five gutted units. The roof was replaced in 2019. There are new service boxes for the 5 gutted units; each unit metered separately for utilities.
Location
State FL
County Bay
Area 02 - Bay County - Central
Interior
Heating Wall Furnace
Cooling Ceiling Fan(s), Window Unit(s), WallWindow Unit(s)
Flooring Carpet, Tile
Fireplace No
Appliance Electric Water Heater
Exterior
Utilities Available Electricity Available, Sewer Available, Trash Collection, Water Available
Waterfront No
Roof Type Built-Up,Flat,Membrane
Building
Lot Description Cleared, Corner Lot, Level
Story 1
Entry Level One
Foundation Slab
Sewer Public Sewer
Water Public
Level or Stories One
Schools
Elementary Schools Northside
Middle Schools Jinks
High Schools Bay
Others
Tax ID 18793-000-000
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
Financing Cash
Special Listing Condition Listed As-Is
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