GREAT FIX AND FLIP OR BUY AND HOLD

Description

**143K NET PER YEAR/VALUE ADD OPPORTUNITY**

DAYTONA BEACH/HOLYHILS LOCATION

This 11-unit motel in Daytona Beach generates an impressive $143k per year in net income, with expenses totaling $40,000 annually. Additionally, there is a storage facility on the property that generates an extra $800 per month in income.

Address: 500 Ridgewood Ave, Holly Hill, FL 32117, USA

Seller Finance Details:

70% Down (735k)

30% Financed at 5% (315k)

Over 30 year ammonization and 2-3 year balloon payment.

KEY DETAILS:

Building Size: 3,937 SF

Price Per Room: $95k

Cap Rate: 13%

Property Type: Hospitality

Lot Size: 0.62 AC

NEW ROOF
NEW COAT OF PAINT

Have tenants in with signed estoppels for the units that are being operated transient.

Property use: 0300- MFR> 10 units

Value Add: 6 Additional units can be added to increase revenue and forced appreciation!

PROPERTY HIGHLIGHTS:

-Boasting 11 rooms that consistently fetch $350/week per room and is always full 95%+ occupancy rate, this property promises a remarkable return on investment.

-Each room is meticulously maintained, ensuring satisfied guests and steady occupancy rates.

-Sprawling across a .62-acre lot, with .25 acres being vacant, gives the possibility to expand by adding 6-8 additional units- Rv Park rentals, Land for Rent Etc., this property is poised for even greater profitability.