Property

MLS #: 550718 | MILTON | SANTA ROSA

$225,000
Multi Family
5049 CANAL ST
MILTON, FL 32570

Listing Agent

PATRICIA SARFERT
850-449-0908
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Agent PATRICIA SARFERT

 

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Details

PRICE 225000
SQFT 3,560
COUNTY SANTA ROSA
SUBDIVISION TOWN OF MILTON
YEAR BUILT 1891
**DO NOT DISTURB TENANTS** BY APPOINTMENT ONLY** This historic and unique property was once the "Colored Odd Fellows Hall" and is listed on the Historic Downtown Milton Walking Map. It is now an investment money maker in the heart of Milton and walking distance to Downtown, with a beautiful waterfront boardwalk and quaint and quirky shops and restaurants! Brand new HVAC inside and out installed Unit A $5900 May 2019, new units installed for Units C and D, inside and out $3647 October 2018, and Unit B outside $2690 August 2018. This classic apartment building contains 5 units. Laundry facility on site, with parking in the rear. Beautiful 2nd story deck was replaced in 2013. Nice park with fountain across the street. Unit A- $725/mo (needs work-currently vacant as of May 2019), Unit B- $775/mo, Unit C- $725/mo, Unit D- $685/mo, Unit E- $600/mo, for an annual gross income of $42120. Annual Expenses include: $3425 gas/water/sewer/garbage, $7293 electric, $1644 property taxes, $1972 insurance, $4200 property management, for a potential cap rate of 10% ($23,586 net income) with current income and expenses, or 12% ($27,786 net income) if managing the property yourself. ***REDUCED $25,000 FOR QUICK SALE***ONLY $45,000 PER DOOR***

 

 

PRIMARY FEATURES

YEAR BUILT 1891
ZONING CITY

 

INTERIOR FEATURES

1 BEDROOM BEDS 1
1 BEDROOM FULL BATHS 1
1 BEDROOM UNITS 5
FLOORS HARDWOOD
HEATING 2+ UNITS
INTERIOR FEATURES HIGH CEILINGS
KITCHEN FEATURES ELECTRIC STOVE,REFRIGERATOR
WATER HEATER ELECTRIC

 

EXTERNAL FEATURES

CONSTRUCTION FRAME
DESIGN 2 STORY
POOL NONE
LOT SIZE 58' x 237'
ROOF COMPOSITE SHINGLE
SIDING WOOD
WATER VIEW NONE
WATERFRONT NONE

 

ADDITIONAL

CONSTRUCTION STATUS RESALE
ELECTRICAL CIRCUIT BREAKER
HOME WARRANTY NONE

 

FINANCIAL DETAILS

EXISTING LEASE MONTH TO MONTH,1 YEAR +
FEES INCLUDE GROUNDS KEEPING,WATER/SEWER
TENANT PAYS CABLE TV,INTERNET,TELEPHONE

 

LOCATION INFORMATION

ELEMENTARY SCHOOL BAGDAD
HIGH SCHOOL MILTON
MIDDLE SCHOOL R. HOBBS
SUBDIVISION TOWN OF MILTON

 

Driving Directions

From Downtown Milton on Caroline Street, go South on Canal. Property is across the street from Gill-Bass Park at the corner of Canal and Henry Street.

 

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