NOT LISTED FOR SALE

140 W Michigan Ave Deland, FL 32720

5 Beds
5 Baths
4,217 Sq Ft
0.4 Acres

Last Sold May 28, 2024

Last sale price $785,000 $186 Per Sq Ft

15 Days on Market

Highlights

  • The property is located in a historic district
  • Wood Flooring
  • Oversized Lot
  • Property is near public transit
  • No HOA
  • Built-In Features

About This Home

As of May 2024

Here is an exceptional investment opportunity that would be a remarkable addition to your investment portfolio. Situated in the highly sought-after locale of Deland, a mere stone's throw away from Stetson University and the award-winning Downtown Deland, this property stands as a prime investment in the flourishing rental market of Central Florida.

This turnkey property is comprised of six units, with five units located within the main house, each benefiting from individual electrical meters, and an additional separate building to the rear. The anticipated current rental income is projected to exceed $81,000 annually, underlining the lucrative nature of this investment.

Significant improvements have been made to enhance the property's value and appeal, including a comprehensive electrical overhaul completed within the past year and a roof replacement in 2017, among various other updates. Its enviable location in the vibrant Downtown area ensures that residents enjoy convenient access to a wide array of dining, shopping, and entertainment options, further enhancing its attractiveness to potential renters.

This investment opportunity represents an excellent acquisition for those looking to diversify and strengthen their investment portfolio through the addition of a high-yield asset in a desirable and dynamic location.

Last Agent to Sell the Property

Nicola Hughes

HUGHES HOMES REALTY Brokerage Phone: 407-557-8775 License #3036276 Listed on: 04/10/2024

Last Buyer's Agent

Lisa Koenig

KEMP REALTY GROUP License #3281916

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,331

Year Built

  • Built in 1925

Lot Details

  • 0.4 Acre Lot
  • Lot Dimensions are 75x150
  • Oversized Lot
  • Level Lot

Parking

  • Common or Shared Parking

Home Design

  • Tri-Level Property
  • Wood Frame Construction
  • Shingle Roof

Interior Spaces

  • 4,217 Sq Ft Home
  • Built-In Features
  • Ceiling Fan
  • Crawl Space

Kitchen

  • Range with Range Hood
  • Microwave

Flooring

  • Wood
  • Carpet

Laundry

  • Laundry Room
  • Laundry Located Outside

Location

  • Property is near public transit
  • The property is located in a historic district

Utilities

  • Cooling System Mounted To A Wall/Window
  • Heating System Mounted To A Wall or Window

Community Details

  • No Home Owners Association
  • 2 Buildings
  • 6 Units
  • Rogers Deland Subdivision

Listing and Financial Details

  • Legal Lot and Block 9 / 10
  • Assessor Parcel Number 7009-01-10-0090

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,331

Year Built

Built in 1925

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Condition: Completed
  • Property Sub Type: Multi-Family
  • Construction Materials: Wood Frame
  • Fireplace: Yes
  • Living Area: 4217
  • Lot Size Acres: 0.4
  • New Construction: No
  • Year Built: 1925
  • Lot Size Sq Ft: 17250
  • Status: Sold
  • Street Direction: W
  • Ownership: Fee Simple
  • Escrow City: Deland
  • Escrow State: FL
  • Escrow Street Name: W. Morse Blvd, Suite 225
  • Minimum Lease: No Minimum
  • RATIO Current Price By Calculate: 186.15
  • Total Acreage: 1/4 to less than 1/2
  • Water Access YN: 0
  • Attribution Contact: 407-557-8775
  • Tax Year: 2023
  • Special Features: VirtualTour

Interior Features

  • Living Area Units: Square Feet
  • Flooring: Carpet, Hardwood, Wood
  • Interior Amenities: Built-in Features, Ceiling Fans(s)
  • Appliances Included: Microwave, Range, Range Hood, Refrigerator
  • Foundation Details: Crawlspace
  • Levels: Three Or More
  • ResoLivingAreaSource: PublicRecords
  • Living Area Meters: 391.77

Exterior Features

  • Exterior Features: Other
  • Roof: Shingle
  • Pool Private: No
  • Waterfront: No
  • Road Surface Type: Paved
  • Water View YN: 0
  • Waterfront Feet Total: 0

Garage/Parking

  • Carport Y N: No
  • Garage Yn: No
  • Parking Features: Common

Utilities

  • Utilities: Electricity Connected, Water Connected
  • Cooling: Wall/Window Unit(s)
  • Heating: Wall Units / Window Unit
  • Laundry Features: Laundry Room, Outside
  • Sewer: Public Sewer
  • Water Source: Public
  • Individually Metered: Electric

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Association 2 YN: 0
  • Association Approval Required YN: 0
  • Development: Deland

Fee Information

  • Total Annual Fees: 0.00
  • Total Monthly Fees: 0.00

Lot Info

  • Zoning: 05R3
  • Parcel Number: 7009-01-10-0090
  • Additional Parcels: No
  • Lot Features: Historic District, City Limits, Level, Near Public Transit, Oversized Lot, Paved
  • Lot Dimensions: 75x150
  • Flood Zone Code: x

Rental Info

  • Lease Restrictions YN: 0

Multi Family

  • Number Of Units Total: 6
  • Total Num Buildings: 2
  • Unit Count: 6

Tax Info

  • Tax Annual Amount: 6330.86
  • Tax Block: 10
  • Tax Book Number: MB14-15-17
  • Tax Lot: 9

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/28/2024 05/28/24 Sold $785,000 -4.8% $186 / Sq Ft
04/26/2024 04/26/24 Pending -- -- --
04/10/2024 04/10/24 For Sale $825,000 -- $196 / Sq Ft
Source: Stellar MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Nicola Hughes

    Seller's Agent in 2024

    Nicola Hughes

    HUGHES HOMES REALTY

    (407) 963-1198

    96 Total Sales

    Nicola Hughes
    Section Image
  • Lisa Koenig

    Buyer's Agent in 2024

    Lisa Koenig

    KEMP REALTY GROUP

    (386) 848-1316

    105 Total Sales

    Lisa Koenig
    Section Image
  • Maureen Kemp

    Buyer Co-Listing Agent in 2024

    Maureen Kemp

    KEMP REALTY GROUP

    (386) 801-4276

    172 Total Sales

    Maureen Kemp
    Section Image
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Map

Source: Stellar MLS

MLS Number: O6194234

Stellar MLS

APN: 7009-01-10-0090

Florida Volusia County Deland 32720

140 W Michigan Ave, Deland, FL

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Stellar MLS IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.



Listing Information presented by local MLS brokerage: Ten-X - (888)-952-6393

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