**Investment Opportunity: Short-term rental and MIXED USE zoning. Partially Updated 1920s Multi-Family Property in the Downtown Canal Street Historic District of New Smyrna Beach, Florida. Discover the potential of this unique multi-family dwelling originating from the vibrant 1920s, located in the sought-after downtown district of a thriving beach community. This property blends historical charm with partial modern updates, offering a solid foundation for future enhancements and significant rental income possibilities. **Property Features:** - **Four Rental Units with a mix of one- and two-bedroom apartments, catering to a diverse rental market. There are three units in the main dwelling. Unit 1: Fully updated in 2018, has one bedroom and one bathroom. Unit 2 is the entire 2nd floor (unfinished) and boasts two bedrooms and two full bathrooms with clawfoot tubs. Unit 3 has one-two bedrooms and one bathroom. Unit 4 which is an efficiency unit that was fully renovated in 2018. - **Partial Updates Completed:** The current owners have invested over $100k in property upgrades, to include an entire roof replacement and reinforced foundation. Two of the four rental units have been renovated featuring new floors, updated bathrooms, and newer appliances. These enhancements have been designed to retain the historic charm while providing the conveniences that today’s tenants demand. - **Exterior and Unit Upgrades Needed:** The property requires further updates to two units and some cosmetic improvements to the exterior, presenting a fantastic opportunity for an investor to add value and maximize return on investment. - **Community and Outdoor Spaces:** Tenants can enjoy the communal outdoor areas and the proximity to local amenities including parks, shops, and dining. 2 blocks from bustling Canal Street and 1.9 miles from the beach! - **Investment with Upside:** With its prime location and partial updates, this property is ideally positioned for an investor looking to capitalize on the booming rental market in a beach community. This property could also pair well with the proximity of the hospital as a housing option for traveling medical staff. The potential for future rent increases post-renovation makes this an appealing option for those looking to expand their portfolio.

Listing courtesy of SMITH REALTY AND ASSOC INC 386-690-0542



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Data last updated at: 2024-05-02 11:35 AM EDT