1960 US-90

Madison Complex 12 1960 US-90, Madison, FL 32340 127 SW Meeting Ave, Madison, FL 32340 Asking Price : $300,000 Property Type : Multifamily Square Footage : 10,250 Net Rentable (sq ft) : 9,564 Price/Sq Ft : $29.26 Cap Rate :16.12% Occupancy : 100% NOI : $50,644 Year Built : 1995 Buildings : 5 Units : 12 Bedrooms : 20 Bathrooms : 14 Lot Size (sq ft) : 223,462 Price/Unit : $25k Investment Highlights R1 zoning : Develop 1 house per acre, no max size constraints. 100% occupancy 16.12% High cap rate Low price per door AND per square foot Gross > $80k Annual Tenants pay all utilities 5+ Acres Near Suwannee Music Festival Campgrounds, Madison County Recreation Complex, Schools, Georgia, & Tallahassee Huge Upside!!! 12 units on 2 lots (5.088 acres) boasts 20 bedrooms and 14 full bathrooms. Three manufactured triplex's and a daycare are on one acre of the property, leaving over four acres available to add more units. Zoned, as of right to build up to 1 home per acre, with no max size limits. Folio also includes 127 SW MEETING AVE. , a 1552sq/ft two story duplex on a 0.058 acre lot. Monthly Gross = $6,737. Tenants pay utilities; No vacancies. Units are cash flowing and can be renovated to increase returns. 2700 sq/ft CBS House (zoned as daycare) rented well below market rates can be converted into another triplex. Huge Upside; Many opportunities to convert from cash flow to a CASH COW