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1960 W US 90, Madison, FL 32340
$499,000
1960 W US 90, Madison, FL 32340View this property at 1960 W US 90, Madison, FL 32340
1960 W US 90MadisonFL32340
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Property Description
Calling all INVESTORS!!! These two turnkey INCOME-PRODUCING properties are just what you've been looking for to add to your portfolio! 1960 US 90 on 5 acres is home to THREE 2001 MFHs (3 units ea. = 9) and 1 large 1995 DSF LARGE ex-daycare building with 1 unit currently; however, this building can easily be split to have 3 units (has 3 bathrooms). 127 Meeting St. has a 1940 2-story home, with a first floor unit and a second floor unit. All together, there are 12 rented units with a total of 20 bedrooms (don't forget the potential of 2 additional units and more bedrooms) and 14 bathrooms. Some units have central heating and air and most have window units. While the seller does not have written agreements with tenants, with practically 100% occupancy rate, ALL units stay leased. When a unit becomes available, the seller is contacted immediately by potential tenants, and this is due to word of mouth. Tenants provide all their own appliances, greatly reducing seller's repair and maintenance costs. Seller/landlord has kept rental rates reasonable, which may contribute to lower maintenance costs. After operating expenses, seller nets about $4,450 per month. (Estimate of monthly expenses: $795 ins., $225 garbage, $30 well power, $100 yard maintenance, $500 CONSERVATIVE maintenance repair expenses, $500 taxes, for an approx. total of $2150. Monthly rental income is currently $6,600 with a potential to be $7,900 with 2 additional units. SELLER DOES NOT WISH TENANTS TO KNOW HE IS SELLING! Therefore, showings require an appointment, and this will be after you are under contract, have provided POF, and made a substantial deposit. Buyer chooses and pays for title. All information provided by seller.
Full Property Details
Full Property Details for 1960 W US 90
General
- Price: $499,000
- Status: Active
- Type: Commercial Multi-Family
- MLS ID: 754200
- Updated: 4/23/2024
- Added to Site: 71 day(s) ago
Location
- County: Madison
- Subdivision: Other
- Driving Directions: From I-10, take Exit 251, Route 14 in Madison for about 1/2 mile. Next go N on Route 360A (aka Martin Luther King Dr.) for approx. 4 mi. Go W on SR 90 for about 2 mi. Property is on the north side of SR 90, near Mystic Lake. Directions from this to the 2nd property: Go E on SR 90 (aka called Base St.) for about 2.5 miles. Turn R on S. Meeting St. Property is on the east side of Meeting St.
School Information
- Elementary School: Other
- Middle School: Other
- High School: Other
Community
- Community Name: 11 - Other Counties
Utilities
- Sewer: Septic Tank
- Water: Well
- Well: Yes
- Utility Description: Septic Available, Water Available
Structural Information
- Stories/Levels: 1
- Year Built: 2001
Lot Features
- Lot Size (Acres): 5.14
- Lot Dimensions: irregular
- Zoning: Resid Multi-Family
Financial Considerations
- Terms: Cash, Other, See Remarks
Disclosures and Reports
- Buyer’s Brokerage Compensation: 3.5%
- Special Conditions: Listed As-Is
- Legal Description: BEG AT SE COR OF NE4 OF SW4 RUN E 709' S 511' W 436' TO POB THEN RUN S 995' W 226' N 974' E 225' TO POB OR 599 PG 325 OR 827 PG 285 OR 1189 PG 163 OR 1292 PG 8 andBEG AT SW COR OF BLK 58 RUN N 70' TO POB THEN CONT N 45'E 31' S 45' W 36' TO POB OR 708/107 OR 1298/55
- Property ID: 17-1N-09-3571-002-001
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Schools
Schools serving 1960 W US 90
School District:Madison
Rating | Name | Grades | Distance |
---|---|---|---|
2093 W Us Highway 90, Madison, FL 32340 | 6-8 | 0.2 mi | |
2649 W Us Highway 90, Madison, FL 32340 | 9-12 | 0.7 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 1960 W US 90
Date
Details
Price
Change
Source
4/23/2024
Price Reduced
$499,000
-24.39%
MLS
3/07/2024
Listed
$660,000
340%
MLS
10/05/2018
Sold
$150,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 1960 W US 90
Year
Property Taxes
Change
Tax Assessment
Change
2023
$5,043
16%
$305,144
14%
2021
$4,335
-6%
$267,585
-1%
2022
$4,622
12%
$271,455
7%
2020
$4,139
-16%
$252,727
-1%
2019
$4,902
-2%
$254,801
-1%
2018
$5,013
-14%
$256,873
-15%
2017
$5,826
6%
$301,523
-1%
2016
$5,502
-1%
$303,895
1%
2015
$5,553
-17%
$300,100
-18%
2014
$6,673
-1%
$364,695
-1%
2013
$6,759
—
$367,196
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 1960 W US 90
1960 W US 90, Madison, FL 32340 (MLS# 754200) is a Commercial Multi-Family property. 1960 W US 90 is currently listed for $499,000 and was received on March 07, 2024. Want to learn more about 1960 W US 90? Do you have questions about finding other Commercial Multi-Family real estate for sale in Madison? You can browse all Madison real estate or contact a Coldwell Banker agent to request more information.