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Multifamily

Florida Place

2231 Florida Dr, Deltona, FL 32738

Listing Price: $1,300,000

Cap Rate
4.59%
Number of Units
10
Price/Unit
$130,000
Price/Gross SF
$208.33
Gross SF
6,240

Investment Overview

10-unit, class B+ apartment community located in Deltona, FL (Volusia County)

Investment Highlights

  • 2008 construction with all steel framing and 50 year standing-seam metal roofs
  • Immediate upside of $325 per unit with light interior value-add needed
  • Ability to achieve a projected 6.5% cap rate by end of Year Two with light renovations
  • All units have washer and dryer connections
  • Deltona is the most populous city in Volusia county and has seen a population increase of over 11% in the past 10 years
  • Located just six miles from Amazon's 1.4 million square foot distribution center
  • Less than five minutes away from major retail including Publix, Lowe's and several eateries
  • Easy access to I-4 of less than 15 minutes

Exclusively Listed By

Multifamily

Florida Place

Listing Price: $1,300,000

Cap Rate
4.59%
Number of Units
10
Price/Unit
$130,000
Price/Gross SF
$208.33
Gross SF
6,240

Investment Highlights

  • 2008 construction with all steel framing and 50 year standing-seam metal roofs
  • Immediate upside of $325 per unit with light interior value-add needed
  • Ability to achieve a projected 6.5% cap rate by end of Year Two with light renovations
  • All units have washer and dryer connections
  • Deltona is the most populous city in Volusia county and has seen a population increase of over 11% in the past 10 years
  • Located just six miles from Amazon's 1.4 million square foot distribution center
  • Less than five minutes away from major retail including Publix, Lowe's and several eateries
  • Easy access to I-4 of less than 15 minutes

Investment Overview

10-unit, class B+ apartment community located in Deltona, FL (Volusia County)

Exclusively Listed By

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