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140 W Michigan Avenue

DeLand, FL 32720

– beds
– baths
4,217 sqft
~1/2 acre lot
$186 per sqft
1925 build
– on site

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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.

Listing courtesy of STELLAR_MLS / HUGHES HOMES REALTY

Last checked: Checking… • Last updated Oct 21, 2024 •

MLS# O6194234 —

The Building

Year Built:

1925
New Construction:

false
Construction Materials:

Wood Frame
Levels:

Three Or More
Roof:

Shingle
Foundation Details:

Crawlspace
# of Buildings:

2
Building Area Units:

Square Feet

Interior

Interior Features:

Built-in Features
Flooring:

Carpet
Fireplace:

true

Room Dimensions

Living Area:

4217
Living Area Units:

Square Feet
Living Area Source:

Public Records

Location

Directions:

S. Woodland Blvd to Left on W. Michigan.
Latitude:

29.033227
Longitude:

-81.304984
Coordinates:

-81.304984, 29.033227

The Property

Parcel Number:

700901100090
Property Type:

Residential Income
Property Subtype:

Multi Family
Property Condition:

Completed
Lot Features:

Historic District
Lot Size Acres:

0.4
Lot Size Area:

17250
Lot Size SqFt:

17250
Lot Size Dimensions:

75 x 150
Lot Size Units:

Square Feet
Total Acres:

1/4 to less than 1/2
Zoning:

05R3
View:

false
Exterior Features:

Other
Water Source:

Public
Road Surface Type:

Paved
Road Frontage Type:

Street Paved
Flood Zone Code:

x
Additional Parcels:

false
Lease Restrictions:

false
Land Lease:

false

Listing Agent

Contact info:

Taxes

Tax Year:

2023
Tax Lot:

9
Tax Block:

10
Tax Legal Description:

E 115 FT OF N1/2 OF LOT 9 BLK 10 DELAND PER OR 4001 PG 4899 PER OR 7399 PG 2221
Tax Book Number:

MB14-15-17
Tax Annual Amount:

6330.86

The Listing

Special Listing Conditions:

None

Heating & Cooling

Heating:

Wall Units / Window Unit
Heating:

true
Cooling:

Wall/Window Unit(s)
Cooling:

true

Utilities

Utilities:

Electricity Connected
Sewer:

Public Sewer

Appliances

Appliances:

Microwave
Laundry Features:

Laundry Room

The Community

Subdivision Name:

ROGERS DELAND
Senior Community:

false
Water View:

false
Water Access:

false
Waterfront:

false
Pool Private:

false
Association:

false
Ownership:

Fee Simple
Association Approval Required:

false

Parking

Garage:

false
Carport:

false
Parking Features:

Common

Extra Units

# of Units Total:

6

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Max Internet Speed

AT&T Internet

Provided by BroadbandNow®

Sale history

Date	Event	Source	Price	% Change
5/28/24 May 28, 2024	Sold	STELLAR_MLS	$785,000	-4.8%
4/27/24 Apr 27, 2024	Pending	STELLAR_MLS	$825,000
4/10/24 Apr 10, 2024	Listed / Active	STELLAR_MLS	$825,000

Multifamily Sold on 5/28/2024

$785,000

Listing provided by broker:

Nicola Hughes

HUGHES HOMES REALTY

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Listing Courtesy of: STELLAR_MLS and HUGHES HOMES REALTY.

Based on information from the My Florida Regional MLS DBA Stellar MLS 2024.

All information provided is deemed reliable but is not guaranteed and should be independently verified. Stellar MLS, Estately and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information on each listing is furnished by the owner and deemed reliable to the best of his/her knowledge, but should be verified by the purchaser. Stellar MLS and Estately assume no responsibility for typographical errors, misprints or misinformation. This property is offered without respect to any protected classes in accordance with the law. For any questions please call (407) 499-8911.

140 W Michigan Avenue

DeLand, FL 32720