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First Alliance Capital

1507 Park Center Drive, Unit 1G
Orlando, FL 32835
 (407) 668-4396
Contact Us

First Alliance Capital

1507 Park Center Drive, Unit 1G
Orlando, FL 32835
 (407) 668-4396
Contact Us

S Atlantic Ave, DAYTONA BEACH, FL 32118

Commercial

Property Status: Available (Wholesale) |  For Sale: $1,149,900.00



S ATLANTIC AVE DAYTONA BEACH FL


Property Details:
Property Style:
5+ Units
Year Built:
1952
Finished Sq. Ft:
4,471
Basement:
No Basement
Owner/Agent:
Wholesale

S ATLANTIC AVE, DAYTONA BEACH, FL 32118
Property Details

PRICE: 1,149,900
12 bed / 12 bath

4,471 square feet

Built in 1952

12 Unit Hotel

Closing Costs to Buy: $10,000

Closing Costs to Sell: $100,000

Repair Costs To Flip: $225,000

After Repair value: $1,700,000

Rental Income: $25,480 mo. / $305,760 yr.

This positive cash flow motel lies on the southern peninsula of Daytona Beach Shores, directly across from the beaches. Property has 12 fully operational motel units and an owner's suite in the office area. The property consists of five rooms with two double beds, full kitchens, a gas stove, a fridge, a TV, a microwave, and extra counter space, and six rooms with two double beds, including a mini-fridge and a microwave, and a TV. There is also one room with a king-size bed, mini-fridge, microwave, and TV.

The owners currently run the property and only charge $55-60/night per room, bringing in approximately $140,000 in annual gross revenue. Now, the property is showing a net annual operating income of $50,592. This property could command market nightly rates with minimal vacancy to bring in some serious value-add cash flow with some significant updating.

This would include replacing the roof, repaving the asphalt parking lot, updating the kitchenettes, appliances, and the furniture in each unit. To complete the updating, repainting the interior and exterior of the building, installing new vinyl flooring throughout, and updating the bathrooms would maximize value and command market nightly rates.

After renovations, the comparable motels in the area charge $100+ per night and operate at vacancy rates less than 30%. Once fully performing, this property should be able to generate $305,760 in annual gross revenue. With projected post-rehab expenses at approximately $108,000 per year, this property could generate a 14%+ pro-forma return. $660,000 in seller financing is available to qualified buyers.

TEXT JASON (407-455-1233) TO GET THIS PROPERTY!

PLEASE VISIT OUR WEBSITE TO SEE MORE PICTURES, facforsale.com/

We have an equity interest in this property and are selling the contract.      
All properties require cash or a private/hard money loan in order to purchase. No conventional or FHA financing available unless otherwise indicated. All inspections must be completed prior to buyer signing the contract.

Buyers will need to provide a $3,000 non-refundable deposit at time of contract. Seller will convey using an as-is contract, clear and marketable title with a warranty deed.  All closings are with a licensed title company with Insurable Title.

Buyer will be responsible for all closing costs unless otherwise indicated.
Foster Algier Broker - Gold Key - G.R.I..

FLA Real Estate Services



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