2518 Fern Palm Drive
Edgewater, FL 32141

Listed at $559,000

Details

  • MLS# 1228946
  • Multi Unit - Multiple
  • Status Active
  • 6 Bedrooms
  • 4 full Bathrooms
  • 3,006 Square Feet
  • 0.280 acres
  • Built in 0
  • Local Schools

Description

Built in 2021, this fully occupied duplex presents an outstanding turnkey investment opportunity in the growing Edgewater market just minutes from New Smyrna Beach. Investors can enjoy the benefits of one of Central Florida's most desirable coastal markets while often acquiring property at a more attractive price point than comparable opportunities nearby. Cash flow starts on day one with this property generating $3,850 per month in gross rental income. This investment offers modern construction with thoughtfully designed floor plans that maximize both space and functionality. The property is occupied by two outstanding long term tenants...read more who take pride in their homes and have expressed interest in extending their leases, creating an ideal turnkey investment opportunity.Each unit features 3 bedrooms, 2 bathrooms, an oversized one car garage, soaring vaulted ceilings, luxury vinyl plank flooring throughout the main living areas, granite countertops, white shaker cabinetry, .. CONT ... stainless steel appliances, spacious kitchen islands, interior laundry rooms, generous primary suites with dual vanities and walk in showers, covered rear lanais, central air conditioning systems, and private backyards overlooking a wooded setting.Designed with investors in mind, each unit is separately metered for electric and water, with tenants paying all of their own utilities to help reduce owner expenses. The oversized lot provides additional green space that enhances the propertys appeal for long term tenants. Situated on an oversized 120 x 100 lot, this property offers convenient access to shopping, dining, parks, the Indian River, public boat ramps, and the beaches of New Smyrna. Its central location also provides convenient access to Cape Canaveral, the Kennedy Space Center, Orlando, and Floridas renowned Space Coast. Whether youre looking to expand your portfolio or complete a 1031 exchange, this is an opportunity you wont want to miss.

Features

  • Refrigerator
  • Electric Range
  • Dishwasher
  • Central Air
  • Carpet
  • Tile
  • Central
  • $8,123 Taxes
  • Public
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All Property Features

  • Property Type: Multi Unit - Multiple
  • Appliances: Refrigerator, Electric Range, Dishwasher
  • Cooling: Central Air
  • Directions: From I-95 take Exit 244 and Go East on on FL-442 E/Indian River Blvd.; Turn Right onto Guava Dr.; Turn Left onto 22nd St.; Turn right onto Fern Palm Dr.
  • Exterior: Block, Concrete
  • Exterior Amenities: Impact Windows
  • Flooring: Carpet, Tile
  • Garage: 2 car attached
  • Heating: Central
  • Listing Terms: Cash, Conventional, FHA, USDA Loan, VA Loan
  • Lot Description: Cleared
  • Lot Dimensions: 120' x 100'
  • Lot Size: 0.28 Acres
  • Parcel #: 840201065680
  • Parking: Attached, Garage, RV Access/Parking
  • Property Attached Y/N: No
  • Property Sub-Type: Duplex
  • Roof Type: Shingle
  • Sewer: Public Sewer
  • SQFT Total: 3900
  • Taxes: $8,123
  • Tenant Pays: Electricity, Water
  • Units: 2
  • Utilities: Electricity Connected, Separate Electric Meters, Separate Water Meters, Sewer Connected, Water Connected
  • Water: Public