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300 Church Street All Units
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PRICED AT ONLY: $799,900

Address: 300 Church Street All Units, BUNNELL, FL 32110

Description

Here's your chance to own an income producing property that's an exceptional investment opportunity in the popular and vibrant flagler county area of northeast florida. This multi family property currently offers 5 units (a, b, c, d, e #302) with a total square footage of 4910, consisting of 2 buildings constructed in 1924, one in 1997, and major renovations completed in 2018. The property has been meticulously maintained and offers several amenities for the residents, with the potential for even more. Situated in the city of bunnell, the seat of government for flagler county and one of the fastest growing counties in florida, this property enjoys proximity to major transportation routes, shopping centers, dining options, schools, and recreational facilities. The area boasts a robust rental market with high demand for multi family housing, ensuring consistent occupancy rates and rental income. In fact, since november 2018, the vacancy rate has been a very low 1. 31%, with zero evictions and just four turnovers, indicating tenant satisfaction as well as successful and profitable tenancies (two units have had the same tenants for 6 years! ). Each unit is equipped with climate control, modern appliances, vinyl plank or porcelain tile flooring, and privacy, providing residents with comfort and convenience, as well as separate meters for the electric and the water/trash/sewage (which means the tenant pays for their own utilities!! ). There are two locked laundry rooms on the premises, which currently are used by the owners in unit e #302 and unit a tenants (tenant owned washer/dryer in unit a laundry room; washer/dryer in unit e #302 conveys with the property). Future use could include coin operated machines in one or both laundry rooms and access for all tenants on the premises, generating additional income opportunities. Four units are occupied by tenants, with rents ranging from $900 to $1475 ($4875/month total). The owners occupy the fifth unit, which can be rented for $1275 to $1395 or more; there is a 2 car garage, storage, and a private laundry room under the unit that adds extra value to the rental. With $1275 for unit e #302, the current rents are $6150 per month for $73,800 gross rent income, and net operating income of $50,551 (includes property taxes, insurance, and 8% property management fees). Market rent conservatively forecasted for all 5 units is $6875 for a total of $82,500 gross rent income per year. Manage the property yourself and the potential noi is $61,920+ per year! For an offering memorandum brochure that provides more details and financial information on this investment property, please ask your agent to download the document directly from the mls or request it from the listing agent if you're not represented by a buyer's agent. This is a well maintained property that has undergone regular maintenance and updates, ensuring a desirable living environment and maximizing tenant satisfaction. It's a compelling investment opportunity that comes with strong cash flow potential and capital appreciation in the thriving flagler county rental market. Its prime location, amenities, and solid financial performance makes this multi family property an ideal addition to any investment portfolio.

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  • MLS#: FC302326 ( Residential Income )
  • Street Address: 300 Church Street All Units
  • Viewed: 3
  • Price: $799,900
  • Price sqft: $163
  • Waterfront: No
  • Year Built: 1997
  • Bldg sqft: 4910
  • Bedrooms: 7
  • Total Baths: 6
  • Garage / Parking Spaces: 2
  • Days On Market: 141

Description

Here's your chance to own an income producing property that's an exceptional investment opportunity in the popular and vibrant flagler county area of northeast florida. This multi family property currently offers 5 units (a, b, c, d, e #302) with a total square footage of 4910, consisting of 2 buildings constructed in 1924, one in 1997, and major renovations completed in 2018. The property has been meticulously maintained and offers several amenities for the residents, with the potential for even more. Situated in the city of bunnell, the seat of government for flagler county and one of the fastest growing counties in florida, this property enjoys proximity to major transportation routes, shopping centers, dining options, schools, and recreational facilities. The area boasts a robust rental market with high demand for multi family housing, ensuring consistent occupancy rates and rental income. In fact, since november 2018, the vacancy rate has been a very low 1. 31%, with zero evictions and just four turnovers, indicating tenant satisfaction as well as successful and profitable tenancies (two units have had the same tenants for 6 years! ). Each unit is equipped with climate control, modern appliances, vinyl plank or porcelain tile flooring, and privacy, providing residents with comfort and convenience, as well as separate meters for the electric and the water/trash/sewage (which means the tenant pays for their own utilities!! ). There are two locked laundry rooms on the premises, which currently are used by the owners in unit e #302 and unit a tenants (tenant owned washer/dryer in unit a laundry room; washer/dryer in unit e #302 conveys with the property). Future use could include coin operated machines in one or both laundry rooms and access for all tenants on the premises, generating additional income opportunities. Four units are occupied by tenants, with rents ranging from $900 to $1475 ($4875/month total). The owners occupy the fifth unit, which can be rented for $1275 to $1395 or more; there is a 2 car garage, storage, and a private laundry room under the unit that adds extra value to the rental. With $1275 for unit e #302, the current rents are $6150 per month for $73,800 gross rent income, and net operating income of $50,551 (includes property taxes, insurance, and 8% property management fees). Market rent conservatively forecasted for all 5 units is $6875 for a total of $82,500 gross rent income per year. Manage the property yourself and the potential noi is $61,920+ per year! For an offering memorandum brochure that provides more details and financial information on this investment property, please ask your agent to download the document directly from the mls or request it from the listing agent if you're not represented by a buyer's agent. This is a well maintained property that has undergone regular maintenance and updates, ensuring a desirable living environment and maximizing tenant satisfaction. It's a compelling investment opportunity that comes with strong cash flow potential and capital appreciation in the thriving flagler county rental market. Its prime location, amenities, and solid financial performance makes this multi family property an ideal addition to any investment portfolio.
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Features
Building and Construction
  • Basement: Crawl Space
  • Covered Spaces: 0.00
  • Exterior Features: Balcony, Lighting, Private Mailbox, Rain Gutters, Storage
  • Flooring: Luxury Vinyl, Tile
  • Living Area: 3731.00
  • Roof: Metal
Property Information
  • Property Condition: Completed
Land Information
  • Lot Features: Corner Lot, City Limits, Level, Oversized Lot, Paved
School Information
  • High School: Flagler-Palm Coast High
  • Middle School: Buddy Taylor Middle
  • School Elementary: Bunnell Elementary
Garage and Parking
  • Garage Spaces: 2.00
  • Parking Features: Assigned, Ground Level, Off Street
Eco-Communities
  • Water Source: Public
Utilities
  • Carport Spaces: 0.00
  • Cooling: Central Air
  • Heating: Central, Electric, Heat Pump
  • Pets Allowed: Yes
  • Sewer: Public Sewer
  • Utilities: Electricity Connected, Public, Sewer Connected, Water - Multiple Meters, Water Connected
Finance and Tax Information
  • Home Owners Association Fee: 0.00
  • Net Operating Income: 0.00
  • Tax Year: 2023
Rental Information
  • Tenant Pays: Electricity, Sewer, Water
Other Features
  • Appliances: Electric Water Heater, Range, Refrigerator
  • Country: US
  • Interior Features: Attic Fan, Ceiling Fans(s), Eat-in Kitchen, Open Floorplan, Solid Wood Cabinets, Thermostat
  • Legal Description: TOWN OF BUNNELL BLOCK 136 LOTS 1-2-12 OR 245 PG 205 OR 462 PG 961 OR 462 PG 962 OR 463 PG 194 (CD) OR 1433 PG 1993-FJ OR 2203/795 OR 2355/368
  • Levels: Two
  • Area Major: 32110 - Bunnell
  • Occupant Type: Tenant
  • Parcel Number: 10-12-30-0850-01360-0010
  • Unit Number: All Units
  • Zoning Code: R-1
Nearby Subdivisions
Townbunnell  

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