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140 W Michigan Avenue, Deland, FL 32720
$785,000
140 W Michigan Avenue, Deland, FL 32720View this property at 140 W Michigan Avenue, Deland, FL 32720
140 W Michigan AvenueDelandFL32720
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Property Description
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.
Full Property Details
Full Property Details for 140 W Michigan Ave
General
- Sold For: $785,000
- Taxes: $6,330 (2023)
- Status: Closed
- Type: Multi-Family
- MLS ID: O6194234
- Added to Site: 57 day(s) ago
Rental Information
- Min. Lease: No Minimum
Interior
- Interior Features: Built-in Features, Ceiling Fan(s)
- Fireplace: Yes
- Appliances: Microwave, Range, Range Hood, Refrigerator
- Flooring: Carpet, Engineered Hardwood, Hardwood
Rooms
Other Rooms
- Laundry: Laundry Room, Outside
Exterior
- Exterior Features: Other
Parking
- Parking Features: Common
Location
- Area: 32720 - Deland
- County: Volusia
- Development Name: 32720 - Deland
- Subdivision: ROGERS DELAND
- Driving Directions: S. Woodland Blvd to Left on W. Michigan.
Community
- Community Name: 32720 - Deland
Heating & Cooling
- Cooling Type: Wall/Window Unit(s)
- Heating Type: Wall Units / Window Unit
Utilities
- Sewer: Public Sewer
- Water: Public
- Utility Description: Electricity Connected, Water Connected
Structural Information
- # Buildings: 2
- Exterior Const.: Wood Frame
- Roof: Shingle
- Stories/Levels: Three Or More
- Square Feet: 4,217
- Sq. Ft. Source: Public Records
- Living Area: 4,217 Sq. Ft.
- Year Built: 1925
Lot Features
- Lot Size (Acres): 0.4
- Lot Size (Sq. Ft.): 17,250
- Lot Size: 17250
- Lot Dimensions: 75 x 150
- Frontage: Street Paved
- Street/Road Desc.: Paved
Financial Considerations
- Tax Amount: $6,330.86
- Tax Year: 2023
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2.5%
- Ownership: Fee Simple
- Special Conditions: None
- Legal Description: E 115 FT OF N1/2 OF LOT 9 BLK 10 DELAND PER OR 4001 PG 4899 PER OR 7399 PG 2221
- Flood Zone Info: x
- APN: 700901100090
- Property ID: 700901100090
- Block/Lot/Section: 10
Listed by Hughes Homes Realty
Sold by Kemp Realty Group
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Schools
Schools serving 140 W Michigan Ave
School District:Volusia County School District
Rating | Name | Grades | Distance |
---|---|---|---|
729 Hazen Rd, Deland, FL 32720 | PK-5 | 1.9 mi | |
605 W New Hampshire Ave, Deland, FL 32720 | 6-8 | 1.9 mi | |
800 N Hill Ave, Deland, FL 32724 | 9-12 | 1.4 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 140 W Michigan Ave
Date
Details
Price
Change
Source
5/28/2024
Sold
$785,000
-4.85%
MLS
4/10/2024
Listed
$825,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
140 W Michigan Avenue, Deland, FL 32720 (MLS# O6194234) is a Multi-Family property that was sold at $785,000 on May 28, 2024. Want to learn more about 140 W Michigan Avenue? Do you have questions about finding other Multi-Family real estate for sale in Deland? You can browse all Deland real estate or contact a Coldwell Banker agent to request more information.