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1960 W US 90, Madison, FL 32340

$499,000
Property Type: Residential Bedrooms: 20 Baths: 14 Square Footage: 9,564 Lot Size (sq. ft.): 223,898 Status: Active
Current Price: $499,000 List Date: 3/12/2024 Last Modified: 4/23/2024

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.

More Information MLS# 754118

Contract Info

Status: Active List Date: 2024-03-07 List Price: $499,000 List Price/SqFt: 52.17 Current Price: $499,000

Location

Area: 11 - Other Counties Street #: 1960 Street Direction: W Street Name: US 90 State: FL Zip Code: 32340 County: Madison Sub Area: 1101 - Other Subdivision: [No Recorded Subdiv] Community/Resort: None Waterfront: No Parcel ID: 17-1N-09-3571-002-001 Elementary School: Other Middle School: Other High School: Other 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. 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 and BEG 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

General Property Info

Sub-Type: Multi Family Design: N/A Apx SqFt(Htd/Cooled): 9564 SqFt Source: Prop App Site Bedrooms: 20 Full Baths: 14 Total Baths: 14 Year Built: 2001 Construction Status: Construction Complete Garage Y/N: No Lot Dimensions: irregular Acreage: 5.14 Lot Size (SqFt): 223898

Listing Info, Tax and Legal

HOA Fee: No Is Subject Leased: Yes Rent/Mo: 6600 New Buyer Fee: No Brokerage Interest: No Interest

Remarks & Misc

Remarks: 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.

Property Features

Appliances: None Bedroom: First Cooling: Central Air; Electric; Window Unit(s) Existing Leases: Month To Month; Other - See Remarks Financing: Cash; Conventional Furnished: Unfurnished Rooms: Bedroom Sale Type: As Is Utilities: All Utilities; Private Well; Septic Tank Present Zoning: Resid Multi-Family

Room Information

Bedroom Level: First Dimensions: 1 x 1 Length: 1.00 Width: 1.00 Dimensions: 1 x 1 Remarks: Varies slightly by unit Bedroom Level: First Dimensions: 1 x 1 Length: 1.00 Width: 1.00 Dimensions: 1 x 1 Remarks: Varies slightly by unit Bedroom Level: First Dimensions: 1 x 1 Length: 1.00 Width: 1.00 Dimensions: 1 x 1 Remarks: Varies slightly by unit Bedroom Level: First Dimensions: 1 x 1 Length: 1.00 Width: 1.00 Dimensions: 1 x 1 Remarks: Varies slightly by unit Bedroom Level: First Dimensions: 1 x 1 Length: 1.00 Width: 1.00 Dimensions: 1 x 1 Remarks: Varies slightly by unit Bedroom Level: First Dimensions: 1 x 1 Length: 1.00 Width: 1.00 Dimensions: 1 x 1 Remarks: Varies slightly by unit Bedroom Level: First Dimensions: 1 x 1 Length: 1.00 Width: 1.00 Dimensions: 1 x 1 Remarks: Varies slightly by unit Bedroom Level: First Dimensions: 1 x 1 Length: 1.00 Width: 1.00 Dimensions: 1 x 1 Remarks: Varies slightly by unit Bedroom Level: First Dimensions: 1 x 1 Length: 1.00 Width: 1.00 Dimensions: 1 x 1 Remarks: Varies slightly by unit Bedroom Level: First Dimensions: 1 x 1 Length: 1.00 Width: 1.00 Dimensions: 1 x 1 Remarks: Varies slightly by unit Bedroom Level: First Dimensions: 1 x 1 Length: 1.00 Width: 1.00 Dimensions: 1 x 1 Remarks: Varies slightly by unit Bedroom Level: First Dimensions: 1 x 1 Length: 1.00 Width: 1.00 Dimensions: 1 x 1 Remarks: Varies slightly by unit Bedroom Level: First Dimensions: 1 x 1 Length: 1.00 Width: 1.00 Dimensions: 1 x 1 Remarks: Varies slightly by unit Bedroom Level: First Dimensions: 1 x 1 Length: 1.00 Width: 1.00 Dimensions: 1 x 1 Remarks: Varies slightly by unit Bedroom Level: First Dimensions: 1 x 1 Length: 1.00 Width: 1.00 Dimensions: 1 x 1 Remarks: Varies slightly by unit Bedroom Level: First Dimensions: 1 x 1 Length: 1.00 Width: 1.00 Dimensions: 1 x 1 Remarks: Varies slightly by unit Bedroom Level: First Dimensions: 1 x 1 Length: 1.00 Width: 1.00 Dimensions: 1 x 1 Remarks: Varies slightly by unit Bedroom Level: First Dimensions: 1 x 1 Length: 1.00 Width: 1.00 Dimensions: 1 x 1 Remarks: Varies slightly by unit Bedroom Level: First Dimensions: 1 x 1 Length: 1.00 Width: 1.00 Dimensions: 1 x 1 Remarks: Varies slightly by unit Bedroom Level: First Dimensions: 1 x 1 Length: 1.00 Width: 1.00 Dimensions: 1 x 1 Remarks: Varies slightly by unit
Listing Office: RIGHT NOW! Real Estate
Last Updated: April - 23 - 2024

The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

Information deemed reliable but not guaranteed.