$319,900
415 VERMONT AVE, DAYTONA BEACH, FL 32118
ActiveProperty details
About this home
Price improved, motivated seller, all reasonable offers considered. Beachside 4-unit just 2 blocks from the ocean, offered AS-IS. Legal nonconforming use: per city ordinance, the property must be rebuilt as single-family in the event of total destruction (property does not qualify for FHA or conventional multifamily financing). Ideal for cash or portfolio/commercial lenders. Pro-forma gross rent of $5,600+/mo. All four units are separately metered and tenants pay their own electric, leaving roughly $350/mo in water as the main landlord utility. Two units are vacant, ready to lease at market rates. The two rear units are leased month-to-month to long-term tenants at below-market rents of $900 and $1,050. A detached 1-car garage adds upside: convert it to a 5th efficiency, expand the adjoining unit, or rent it as storage (buyer to verify zoning and permitting). One tenant handles basic lawn care. Inspection reports available upon request. **Financials within this listing are Pro-Forma. 2 units are currently vacant. The two rear/garage units are currently leased Month-To-Month to long term tenants at below market rates of $900 and $1,050**
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Listings courtesy of Stellar MLS as distributed by MLS GRID. MLS #MFR794290915. Listing brokerage: SLOANE REALTY, LLC. Status: Active.
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