5310 S RIDGEWOOD AVENUE PORT ORANGE FL 32127 MLS #O6148671

Auction Property. ONLINE AUCTION ONLY! In Cooperation with Alex Cooper Auctioneers. List price is Opening Bid At The Online Only Auction Sale To Be Held on The Auctioneers Website – Timed Online Auction will begin Friday, April 5th, at 1:00PM and ends Wednesday, April 10th, 2024 at 1:00pm .**Great Investment Opportunity** Income-Producing Property with Commercial Zoning, Approved for Mixed-Use Including Retail, Storage, and Residential Accommodations in Port Orange, Florida. **Gross Potential Annual Rent of $63,000. Welcome to this versatile income-producing property, boasting commercial zoning approved for mixed-use purposes including retail, storage, and residential accommodations. With a prime location near beaches, the Intercoastal, shopping centers, restaurants, and essential services, this property offers unparalleled convenience and potential. Comprising four distinct income-generating components, this property presents a lucrative investment opportunity. Currently, three apartments are part of the rental portfolio, each offering comfortable living spaces. Apt 1, featuring 1 bed/1 bath, is currently leased month-to-month at $950. Apt 2, offering the same layout, commands $1,000/month and is leased until 2/28/24. Apt 3, boasting 2 beds/2 baths, was previously leased at $1600/month. Additionally, the property includes a storage lot/RV Pad, formerly leased at $700/month, providing further income potential. Notably, Apt 3 and the RV Pad/storage yard have been intentionally left vacant to facilitate showings and offer flexibility to the new owner. The storage area includes an RV Pad equipped with full water, electric, and sewer hookups, allowing for the accommodation of RVs and additional rental income opportunities. This property’s maintenance has been meticulously attended to, with the roof and central AC replaced in 2019 (1 bed units have window AC’s). Furthermore, updates such as upgraded electrical systems and water heaters replaced in 2015 and 2019 ensure modern functionality and efficiency. The plumbing infrastructure features CPVA/PVC, enhancing durability and reliability. With tenants responsible for their own electricity bills and the owner covering water expenses, this property offers a hassle-free management experience. Whether you’re seeking an excellent income investment or considering owner occupancy, this property provides a versatile and lucrative opportunity. Don’t miss out on this rare chance to acquire a meticulously maintained income property in a highly sought-after location.
Commercial zoning within the Ridgewood development district. Permitted uses include Retail, Storage, Multifamily, Pawnshop, appliance/electronic repair shop, Boat sales, Fraternal Organizations, industrial equipment supplies, Convenience stores with or without fuel, equipment rental, funeral home, Greenhouse/Nursery, Health/exercise club, Hotel, manufacturing, medical office, Mobile home sales, Offices, Restaurant, Tattoo establishment, and much more. Current use is 3 apartments and a large storage yard that has an RV pad with full water, electric, and sewer hookups.
Current owner pays $2,771 annual insurance premium and Real Estate taxes for 2023 were $5,689