408 West Howry Avenue
- Value Add Opportunity in Rental Upside
- Separately Metered for Electric
- Walking Distance to Downtown DeLand
- 1.5 Miles to Stetson University
- 8.1 Miles to AMAZON Distribution Center
Property Description
100Units.com presents Stetson Apartments. The value add business plan for this property includes renovating the exterior and the unit interiors. This property is offered at a significant discount to comparable properties in the market and replacement cost. The property consists of two 2-story buildings. The unit mix is two studios, four 1 bed 1 bath units, three 2 bed 1 bath unit, and one 2 bed 1.5 bath unit. The property's location benefits from proximity to major employers, including a newly developed Amazon distribution center just over eight miles away, supporting continued demand and rent growth. Stetson Apartments historically boasts high occupancy, making it an ideal choice for investors seeking stable cash flow with future upside through continued rent optimization. Additional income opportunities include onsite laundry, AC filter service, and pet rent.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $770,000 |
| No. of Units: | 10 |
| Average Occupancy: | 9.06 |
| Year Built: | 1927 |
| Lot Size: | 0.50 Acres |
| Opportunity Zone: | No |
| Price per unit: | $77,000 |
| Property Website | Click Here |
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