Active

$1,175,000

Features:
  • Bedrooms
  • 0 Bathrooms
  • 2878 sq ft
Overview
  • ID: MFRO6220489
  • Bedrooms:
  • Bathrooms: 0
  • Size: 2878 sq ft
Property Details
Remarks
Immaculately maintained nine-unit motel plus a single-family home, located near downtown Titusville, and just steps from the River. The part-time, live-in manager makes daily operations easy. This investment features eight themed guest rooms, a high-end, finished manager's apartment, an office, a coin-operated laundry facility, and a housekeeper's storage room. The live-in manager is compensated with a rent-free apartment. The brick paver parking lot, tropical landscaping, and patio seating make this an attractive place to stay.? Units are primarily rented weekly and monthly, by contract workers and local construction tradespeople, averaging 90% occupancy at $400 per week. Included in this opportunity is a concrete block, single-family home on its own parcel, located behind the motel and rented for $2,000 per month. On-site laundry and vending machines bring in an additional $50–$75 per week, not reflected in our pro-forma. Guests enjoy a world-class view of SpaceX rocket launches. In addition, Downtown Titusville is thriving, and offers live theater, quaint restaurants and breweries, boutique shops, bike trails, and a public boat ramp. Playalinda Beach is a quick ten-minute drive away. Walk into this turn-key property and generate a 10% yield, from day one. Seller Financing is available for qualified buyers with 30% down.
Financial Considerations
Price:
$1,175,000
HOA Fee:
N/A
Tax Amount:
$6910
Price per SqFt:
$291.2
Tax Legal Description:
BAYVIEW MANOR LOTS 1,2 & PT OF LOT 26 AS DESC IN ORB 2671 PG 1777
Exterior Features
Lot Size:
11326
Lot Features:
N/A
Waterfront:
No
Parking Spaces:
N/A
Parking:
Parking Spaces - 6 to 12
Roof:
Concrete
Pool:
No
Pool Features:
N/A
Interior Features
Bedrooms:
Bathrooms:
0
Heating:
Wall Units / Window Unit
Cooling:
Wall/Window Unit(s)
Appliances:
Dryer, Microwave, Refrigerator, Washer
Furnished:
No
Floor:
N/A
Levels:
One
Additional Features
Property Sub Type:
Hotel/Motel
Style:
N/A
Year Built:
1955
Construction Type:
Block
Garage Spaces:
No
Covered Spaces:
N/A
Direction Faces:
N/A
Pets Allowed:
No
Special Condition:
None
Additional Features:
N/A
Additional Features 2:
N/A
Map
  • Address
    1301 S WASHINGTON AVE
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