New Smyrna Beach, FL 32168

Listed at $739,900

Details

  • MLS# 1229179
  • Multi Unit - Multiple
  • Status Active
  • 4 Bedrooms
  • 3 full Bathrooms
  • 2,824 Square Feet
  • 0.170 acres
  • Built in 1913
  • Local Schools

Description

Turn-Key 1031 Exchange Opportunity in Historic Downtown New Smyrna Beach!Or perhaps you're looking for a charming downtown residence with an income-producing rental cottage?Rare opportunity to acquire a fully leased multifamily property located in the highly desirable B&B District of Historic Downtown New Smyrna Beach, also within the Historic and Arts Overlay Districts. Whether you're seeking a turn-key investment, a 1031 Exchange property, or a future owner-occupied residence with rental income, this unique property offers exceptional flexibility and long-term value.Ideally situated just a short walk from Canal Street's popular shops, restaurants,...read more art galleries, breweries, and year-round entertainment, this property offers the walkable downtown lifestyle that tenants love and that continues to drive strong rental demand.The property features a charming two-story main residence with two separate apartments, plus a detached cottageSEE MORE Main ResidenceLower Unit: Spacious 2-bedroom, 1-bath apartment featuring a fireplace and private laundry.Upper Unit: 1-bedroom, 1-bath apartment with a private rear entrance and its own laundry facilities.Detached CottageApproximately 800 square feet with loft, private laundry, and long term tenants.All three units are currently occupied by long-term tenants, providing immediate, stable cash flow from day one. Current gross rental income is approximately $63,000 annually.Property HighlightsThree fully leased residential rental unitsMulti-family zoningLocated within the Historic and Arts Overlay DistrictPrime Downtown New Smyrna Beach locationEasy walk to Canal Street shopping, dining, galleries, and entertainmentMain residence roof approximately 8 years oldDetached cottage roof replaced in 2026Strong long-term rental history with excellent tenant demandOwner currently pays all utilities, including electric, water, natural gas for the water heaters, and the gas range, as the property is serviced by one electric meter and one water meter.With an estimated 6.5 capitalization rate, this property presents an outstanding opportunity for investors seeking dependable income, excellent location, and long-term appreciation potential. Properties like this--fully leased, income-producing multifamily investments in Historic Downtown New Smyrna Beach--rarely become available. Owner financing considered with substantial downpayment and a shorter term balloon payoff. Schedule your private showing today.

Features

  • Washer/Dryer Stacked
  • Washer
  • Tankless Water Heater
  • Refrigerator
  • Microwave
  • Gas Water Heater
  • Gas Range
  • Dryer
  • Dishwasher
  • Central Air, Electric, Multi Units, Individual
  • 1 Fireplace
  • Tile
  • Wood
  • Central, Electric, Hot Water, Natural Gas
  • 2.0 Stories
  • $4,590 Taxes
  • Public
  • Built in 1913
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All Property Features

  • Property Type: Multi Unit - Multiple
  • Appliances: Washer/Dryer Stacked, Washer, Tankless Water Heater, Refrigerator, Microwave, Gas Water Heater, Gas Range, Dryer, Dishwasher
  • Cooling: Central Air, Electric, Multi Units, Individual
  • Days on Site: 16
  • Directions: Canal Strret E from US 1 to Magnolia, go right head South to 407 on the left. Street parking only.
  • Exterior: Frame, Other
  • Exterior Amenities: Courtyard
  • Fireplace: Other
  • Fireplaces: 1
  • Flooring: Tile, Wood
  • Fuel Type: Electric, Gas
  • Heating: Central, Electric, Hot Water, Natural Gas
  • Laundry: Electric Dryer Hookup, In Unit, Washer Hookup, Multiple Locations
  • Listing Terms: Cash, Conventional
  • Lot Description: Historic Area, Many Trees
  • Lot Dimensions: 50 X 150
  • Lot Size: 0.17 Acres
  • Parking: Assigned, On Street
  • Property Attached Y/N: No
  • Property Sub-Type: Triplex
  • Road Frontage: City Street
  • Road Surface: Asphalt
  • Roof Type: Metal, Shingle
  • SQFT Total: 3064
  • Stories: 2.0
  • Taxes: $4,590
  • Units: 3
  • Utilities: Electricity Connected, Sewer Connected, Water Connected
  • Water: Public
  • Year Built: 1913