1218 N 20Th Street

Description

Investment Opportunity: 16-Unit Portfolio in DeFuniak Springs, Florida. Pleased to present a remarkable investment opportunity, featuring a well-maintained portfolio of 16 units. This offering includes six duplexes, each with 2 bedrooms and 1 bathroom, encompassing 878 square feet, and one quadplex, with each unit featuring 2 bedrooms and 1 bathroom at 752 square feet. Priced at $2,050,000, this property promises exceptional investment potential. The current owner is motivated to sell as he plans to develop a new apartment complex on his adjacent land. To facilitate a smooth transaction, he is open to offering attractive financing terms: Down Payment: 30% Interest Rate: 9% Amortization: Over 30 years with a balloon payment due in 10 years. The property currently generates a monthly rent of $15,625, and with the Resident Benefits Package, the total monthly tenant payments reach $16,215. (100% occupied) The portfolio is professionally managed to ensure the property remains well-maintained, leading to consistent rental income and minimal vacancies. Current management company would love to stay in place and offer their management services to the new owner, ensuring a seamless transition and continued high-quality management of the units.