40-unit Boarding House in Downtown Daytona Beach! GREAT CASHFLOW!

[Jim Iorio]

I have, pending acquisition, a 40-room boarding house in downtown Daytona Beach, FL. There is currently 100% occupancy, and the building is grossing $22,000 in monthly rent. Annual NET cashflow is over $200,000 per year, and the property has a 30% CAP rate at my asking price of $700,000.

Again, this property is a boarding house, so it IS management intensive but the cashflow is worth the work.

Everything is in working order, and there are no major repairs needed.

***ASKING PRICE $700,000***

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