INVESTOR ALERT! 2700 HEATED SQUARE FEET! Seize this rare opportunity to own an apartment building just one block from the beach at 115 S Grandview, Daytona Beach! This property is perfectly positioned near shopping and dining, offering convenience and a fantastic coastal lifestyle. The building is well-maintained and comprises a mix of units: one 2-bedroom, two 1-bedrooms, and one studio. All units have been remodeled, with the top two featuring full tiling, updated bathrooms, and modern kitchens. The lower-level units boast vinyl flooring, renovated kitchens and bathrooms, new light fixtures, and ceiling fans. Each unit is equipped with two window A/C units. With four electric meters in place, tenants cover their own electricity costs. The building has a brand-new roof for added peace of mind.
Important Note on Square Footage:
While the property is licensed as a quad, counting the two bottom/back units (one 1-bedroom and one studio), it is zoned as a single-family dwelling, which excludes the basement from the official square footage count. Officially listed at 1, 800 sq ft, the usable space actually totals an impressive 2, 700 sq ft. This discrepancy highlights typical local zoning complexities but speaks to the true potential of this property. Don’t miss out on this prime investment opportunity!
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $335,200 | $335,200 | $335,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 6.990% | 6.250% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.477% | 7.159% | 6.498% |
Monthly Tax Payment | $452 | $452 | $452 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $2,230 | $2,228 | $2,874 |
Total Monthly Payment | $2,757 | $2,755 | $3,401 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.