NOT LISTED FOR SALE

Estimated Value: $625,000 - $846,000

3 Beds
5 Baths
2,587 Sq Ft
$276/Sq Ft Est. Value

Last Sold June 25, 2021

Last sale price $600,000 $232 Per Sq Ft

Est. 19% increase in value since last sale

Current estimated payment $4,634/month

15 Days on Market

Highlights

  • City View
  • Corner Lot
  • Cooling System Mounted To A Wall/Window
  • Princeton Elementary School Rated A-
  • No HOA
  • Outdoor Storage

About This Home

As of June 2021

COLLEGE PARK / 5 UNIT INVESTMENT PROPERTY! EXTRAORDINARY OPPORTUNITY in this extraordinary 5-Unit property consisting of a Single Family Home (2 bedroom / 1 Bath), a 1 Bedroom / 1 Bath unit within the single family home (known as the "East Entrance") , A Free Standing Garage with 1) an upstairs 2 bedroom / 1 bath apartment, and 2) An efficiency ground floor unit under the garage apartment, and 3) A Garage/Storage Space, PLUS a free-standing Efficiency "Cottage." All of this on a nearly 12,000 square foot lot at the superlative corner of Smith and Formosa in College Park. This property has been in the family for over 40 years and has been meticulously maintained and kept in pristine condition. All the units are occupied with tenants in a month-to-month tenancy. Some tenants have been in place for the duration of the ownership. The roof of the single family home was replaced in 2015 and the roof for the "garage" structure was replaced in 2010. Great income / investment opportunity or additional income for an owner/occupant. An exceptional opportunity at an exceptional value!

Last Agent to Sell the Property

Cleve Loveland

LOVELAND PROPERTIES License #602469 Listed on: 05/13/2021

Last Buyer's Agent

Chase Morton Tate

COMPASS FLORIDA LLC License #3327981

COMPASS FLORIDA LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,413

Year Built

  • Built in 1951

Lot Details

  • 0.27 Acre Lot
  • Corner Lot

Parking

  • 1 Car Garage

Home Design

  • Slab Foundation
  • Block Exterior

Interior Spaces

  • 2,587 Sq Ft Home
  • City Views

Outdoor Features

  • Outdoor Storage

Schools

  • Princeton Elementary School
  • College Park Middle School
  • Edgewater High School

Utilities

  • Cooling System Mounted To A Wall/Window
  • Central Heating and Cooling System
  • Heating System Mounted To A Wall or Window
  • High Speed Internet

Listing and Financial Details

Community Details

Overview

  • No Home Owners Association
  • 3 Buildings
  • 5 Units
  • Orange Crest Subdivision

Building Details

  • Gross Income $39,820

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,413

Year Built

Built in 1951

Lot Details

0

Parking

1

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • Construction Materials: Block
  • Fireplace: No
  • Living Area: 2587
  • Lot Size Acres: 0.27
  • New Construction: No
  • Year Built: 1951
  • Lot Size Sq Ft: 11796
  • Status: Sold
  • Street Direction: E
  • Down Payment Resource URL: https://www.workforce-resource.com/dpr/listing/MFRMLS/O5943691?w=Agent&skip_sso=true
  • Down Payment Resource URL 2: https://www.workforce-resource.com/dpr/listing/MFRMLS/O5943691?w=Customer
  • Unit Count: 5
  • Total Acreage: 1/4 to less than 1/2
  • Unit Number Y N: No
  • Ratio: Close Price\List Price: 0.96015
  • Price per Sq Ft: 231.93
  • Close to Original List Price Ratio: 0.96015
  • View: Yes
  • Ownership: Fee Simple
  • Tax Year: 2020
  • Special Features: VirtualTour

Interior Features

  • Living Area Units: Square Feet
  • Foundation Details: Slab
  • Number Of Buildings: 3

Exterior Features

  • Exterior Features: Sidewalk, Storage
  • Roof: Other
  • Pool Private: No
  • View: City
  • Waterfront: No
  • Road Surface Type: Paved
  • Water View Y N: No
  • Water Access Y N: No
  • Water Extras Y N: No

Garage/Parking

  • Attached Garage: No
  • Carport Y N: No
  • Garage Spaces: 1
  • Garage Yn: Yes
  • Covered Parking Spaces: 1
  • Open Parking: No

Utilities

  • Utilities: BB/HS Internet Available, Electricity Connected, Public, Sewer Connected, Water Connected
  • Cooling: Central Air, Wall/Window Unit(s)
  • Heating: Central, Electric, Wall Units / Window Unit
  • Sewer: Public Sewer
  • Water Source: Public
  • Cooling Y N: Yes
  • Heating Yn: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No

Schools

  • Elementary School: Princeton Elem
  • High School: Edgewater High
  • Middle Or Junior School: College Park Middle

Lot Info

  • Zoning: R-3A/T/W
  • Parcel Number: 13-22-29-6220-03-090
  • Additional Parcels: No
  • Lot Features: Corner Lot
  • Flood Zone Code: x

Multi Family

  • Gross Income: 39820
  • Number Of Units Total: 5

Tax Info

  • Tax Annual Amount: 6413.34
  • Tax Block: C
  • Tax Book Number: G-103
  • Tax Lot: 9

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 13, 2021
Closed on
Jun 28, 2021
Sold by
Princeton Property Group Ltd
Bought by
Darlington Deanna
Seller's Agent
Cleve Loveland
LOVELAND PROPERTIES
Buyer's Agent
Chase Morton Tate
COMPASS FLORIDA LLC
List Price
$624,900
Sold Price
$600,000
Premium/Discount to List
-$24,900
-3.98%
Current Estimated Value
$714,553

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$114,553
Avg. Annual Appreciation
3.91%

Purchase Details

Closed on
Apr 19, 2001
Sold by
College Park Holding Co and Murphy Anne D
Bought by
Princeton Property Group Ltd

Purchase Details

Closed on
Apr 14, 1997
Sold by
Murphy Robanne A and Murphy Robert B
Bought by
Murphy Management Group Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$108,000
Interest Rate
7.69%

Purchase Details

Closed on
Sep 28, 1993
Sold by
Murphy Robert B
Bought by
Murphy Robert Boyce and Murphy Robanne Amber

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$112,000
Interest Rate
7.14%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Darlington Deanna $600,000 Equitable Ttl Of Dr Phillips
Princeton Property Group Ltd $192,000 --
Murphy Management Group Inc $108,000 --
Murphy Robert Boyce $112,800 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Murphy Management Group Inc $108,000
Previous Owner Murphy Robert Boyce $112,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/25/2021 06/25/21 Sold $600,000 -4.0% $232 / Sq Ft
05/28/2021 05/28/21 Pending -- -- --
05/27/2021 05/27/21 For Sale $624,900 0.0% $242 / Sq Ft
05/19/2021 05/19/21 Pending -- -- --
05/13/2021 05/13/21 For Sale $624,900 -- $242 / Sq Ft
Source: Stellar MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $10,780 $601,640 $275,000 $326,640
2024 $9,715 $586,150 $275,000 $311,150
2023 $9,715 $530,295 $275,900 $254,395
2022 $9,051 $491,922 $275,900 $216,022
2021 $6,973 $417,100 $275,900 $141,200
2020 $6,413 $420,021 $275,900 $144,121
2019 $6,644 $446,314 $275,900 $170,414
2018 $5,775 $356,702 $155,000 $201,702
2017 $4,924 $270,942 $130,000 $140,942
2016 $4,558 $244,002 $120,000 $124,002
2015 $4,271 $224,452 $105,000 $119,452
2014 $3,968 $206,232 $115,000 $91,232
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Stellar MLS

MLS Number: O5943691

Stellar MLS

APN: 13-2229-6220-03-090