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4805 CHURCH ST Bowling Green, FL 33834
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Key Details
Sold Price $980,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 900 sqft
Price per Sqft $1,088
MLS Listing ID O5788440
Sold Date 01/02/20
Construction Status Appraisal,Inspections,Other Contract Contingencies
HOA Y/N No
Year Built 2019
Annual Tax Amount $1,669
Lot Size 2.570 Acres
Acres 2.57
Lot Dimensions 330.52X256.38X333.75X302.61
Property Description
2019 Brand New Duplexes! 20 Units Total! "Huge Value Add Opportunity"
10- 2bed/1bath units completed and rented with preapproved land, blueprints, utilities and plans for an additional 5 more duplexes! Impact fees for the additional 5 duplexes have already been paid! Just pull permits and start construction!
Current cap rate is 9% for the 10 units and a 18% cap for all 20 units after expenses.
100% occupied with 8 months remaining on All 10 one year leases and there's a waiting list for the new construction!
Current NOI: $96,000
Projected NOI: $216,000 after adding the additional 10 units and rents can be raised from $800 to average market of $900-$1100.
Tenants pay All utilities.
Located in an opportunity zone, so investors avoid capital gains taxes!!
Great Investment that 's only available due to seller health problems. Bowling Green is located an hour S of Tampa and around 35 miles from Lakeland/Haines City/Plant City/Winter Haven! Survey available upon request.
Location
State FL
County Hardee
Zoning SFR
Interior
Heating Central
Cooling Central Air
Flooring Ceramic Tile
Exterior
Garage 19 to 30 Spaces
Utilities Available BB/HS Internet Capable, Electricity Available, Phone Available, Public
Waterfront false
Roof Type Metal
Parking Type 19 to 30 Spaces
Building
Lot Description Corner Lot
Foundation Slab
Lot Size Range Two + to Five Acres
Sewer Public Sewer
Structure Type Block
New Construction true
Construction Status Appraisal,Inspections,Other Contract Contingencies
Others
Ownership Sole Proprietor
Special Listing Condition None
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Bought with COLDWELL BANKER RESIDENTIAL RE
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