NOT LISTED FOR SALE
8 Beds
7 Baths
3,592 Sq Ft
8,276 Sq Ft Lot

Sale Details

Date Sold: November 14, 2023

Last sale price $1,060,000 $295 Per Sq Ft

21 Days on Market

Highlights

  • Beach Access
  • 0.19 Acre Lot
  • Wood Siding
  • Adeline C. Marston Elementary School Rated A-
  • Baseboard Heating
  • Mini Split Air Conditioners

About This Home

As of November 2023

This CASH COW is being presented to the market as the current owner is retiring! Pulling an astounding 11%+ cap rate, you have nothing to do but start investing and collecting. The property consists of two buildings on one large lot. The front building is made up of 4 units: three 1-bedroom units, and one 2-bedroom unit. the back building features 3 studio apartments, side by side. There is a history of long-term tenants, but this property could also be used for short term rentals or possible development (buyer to perform due diligence). The large lot can strategically fit more the 20 cars. Don't miss out on this one, passive income flow awaits whether you are starting your portfolio or adding to it!

Last Agent to Sell the Property

Angela Hirtle

Lyv North Realty License #074589 Listed on: 07/19/2023

Last Buyer's Agent

Todd Wheatley

Four Points Real Estate License #080344

Four Points Real Estate
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Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,626

Year Built

  • Built in 1955

Lot Details

  • 8,276 Sq Ft Lot
  • Lot Sloped Up

Home Design

  • Concrete Foundation
  • Wood Frame Construction
  • Wood Siding

Interior Spaces

  • 7 Full Bathrooms
  • 3,592 Sq Ft Home
  • 2-Story Property
  • Crawl Space

Parking

  • 1,120 Car Parking Spaces
  • Paved Parking

Outdoor Features

  • Beach Access
  • Water Access
  • Water Access Across The Street

Utilities

  • Mini Split Air Conditioners
  • Cooling System Mounted In Outer Wall Opening
  • Mini Split Heat Pump
  • Baseboard Heating
  • 100 Amp Service
  • Gas Water Heater
  • Cable TV Available

Listing and Financial Details

  • Tax Block 26

Community Details

Overview

  • 7 Units

Building Details

  • Operating Expense $18,300
  • Gross Income $154,270
  • Net Operating Income $128,044

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,626

Year Built

Built in 1955

Lot Details

8,276 Sq Ft Lot

Listing Details

  • Status Detail: Closed
  • Style: Multi-Family
  • Flood Zone: Yes
  • Assessment Amount: 418300
  • Assessment Year: 2022
  • Construction: Existing
  • Total Stories: 2
  • Price Per Sq Ft: 295.1
  • Property Class: Multi-Family
  • Sq Ft - Apx Total: 3592
  • Sq Ft - Apx Total Finished: 3592
  • Year Built: 1955
  • List Agent: 283758
  • Unique Disclaimer: The listing broker's offer of compensation is made only to other real estate licensees who are participant members of PrimeMLS.
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Basement Description: Crawl Space
  • Sq Ft - Apx Finished AG: 3592

Exterior Features

  • Construction: Wood Frame
  • Driveway: Paved
  • Exterior: Wood Siding
  • Foundation: Concrete
  • Road Frontage: Yes
  • Roads: Public
  • Easements: Yes
  • Water Body Type: Ocean
  • Water Restrictions: Unknown
  • Water Access Details: Beach Access, Cross a Street to Access
  • Water Body Name 2: Atlantic Ocean
  • Water Body Access 2: Yes

Garage/Parking

  • Parking: Parking Spaces 11 - 20

Utilities

  • Electric: 100 Amp
  • Sewer: Public Sewer On-Site
  • Water: Public Water - On-Site
  • Water Heater: Electric, Gas
  • Heating Fuel: Electric
  • Heating: Baseboard, Electric, Mini Split
  • Cooling: Wall AC Units, Mini Split
  • Utilities: Cable

Lot Info

  • Map: 293
  • Lot Sq Ft: 8276
  • Lot Acres: 0.19
  • Lot Description: Beach Access
  • Surveyed: Unknown
  • Zoning: RB
  • Deed Book: 5600
  • Deed Page: 2355
  • Deed Recorded Type: Warranty

Multi Family

  • Gross Income: 154270
  • Net Income: 128044
  • Total Full Baths: 7
  • Total Units: 7
  • Total1 Bedroom Units: 6
  • Total2 Bedroom Units: 1

Tax Info

  • Tax Gross Amount: 6626
  • Tax Year: 2022

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 19, 2023
Closed on
Nov 14, 2023
Sold by
Bought by
Seller's Agent
Angela Hirtle
Lyv North Realty
Buyer's Agent
Todd Wheatley
Four Points Real Estate
List Price
$1,150,000
Sold Price
$1,060,000
Premium/Discount to List
-$90,000
-7.83%
Views
107

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$873,750
Outstanding Balance
$851,603
Interest Rate
7.49%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Mar 12, 2015
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$311,000
Interest Rate
3.67%
Mortgage Type
Commercial

Purchase Details

Closed on
Jun 21, 2006
Sold by
Bought by

Purchase Details

Closed on
Mar 18, 2003
Sold by
Bought by

Purchase Details

Closed on
Jan 31, 2000
Sold by
Bought by
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$1,060,000 None Available
-- --
$356,000 --
$292,500 --
$160,000 --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $873,750
Previous Owner $311,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
11/14/2023 11/14/23 Sold $1,060,000 -7.8% $295 / Sq Ft
08/09/2023 08/09/23 Pending -- -- --
07/19/2023 07/19/23 For Sale $1,150,000 -- $320 / Sq Ft
Source: PrimeMLS

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $12,207 $990,800 $685,200 $305,600
2024 $12,207 $990,800 $685,200 $305,600
2023 $7,007 $418,300 $274,100 $144,200
2022 $6,626 $418,300 $274,100 $144,200
2021 $6,626 $418,300 $274,100 $144,200
2020 $6,664 $418,300 $274,100 $144,200
2019 $6,697 $418,300 $274,100 $144,200
2018 $6,748 $396,500 $249,200 $147,300
2017 $6,491 $396,500 $249,200 $147,300
2016 $6,376 $396,500 $249,200 $147,300
2015 $6,788 $354,300 $216,600 $137,700
2014 $6,487 $354,300 $216,600 $137,700
Source: Public Records

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Map

Source: PrimeMLS

MLS Number: 4962083

PrimeMLS
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