Updated almost 11 years ago on . Most recent reply
40-unit Boarding House in Downtown Daytona Beach! GREAT CASHFLOW!
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***
Reply to this thread, or send a private message with your e-mail to receive a full breakdown of financials.
Offering