31,806 SqFt
31,806 SqFt
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 31,806 sqft
Price per Sqft $281
MLS Listing ID FC311334
Construction Status Completed
HOA Y/N No
Year Built 2024
Annual Tax Amount $88,500
Lot Size 0.700 Acres
Acres 0.7
Property Sub-Type Multi Family
Source Stellar MLS
Property Description
For the savvy investor, this asset presents not only strong income potential through rentals, but also a compelling opportunity to realize substantial profits by selling the units individually. With average market rents already demonstrating strong cash flow, the resale value of each unit — given their luxury finishes, modern amenities, and prime waterfront location — offers significant upside.
Capitalize on the flexibility to hold as a fully leased income property or strategically exit through high-margin unit-by-unit sales, taking advantage of robust buyer demand for quality residences in Palm Coast's Riverfront district.
Further enhancing the investment value, buyers can utilize cost segregation strategies to potentially offset up to 50% of the purchase price through accelerated depreciation. This powerful tax benefit allows investors to dramatically improve after-tax cash flow in the early years of ownership, making 445 Riverfront Drive not just a premier real estate asset, but a highly strategic wealth-building vehicle.
Location
State FL
County Flagler
Area 32137 - Palm Coast
Interior
Heating Central, Electric, Heat Pump
Cooling Central Air
Flooring Ceramic Tile
Appliance Dishwasher, Dryer, Microwave, Refrigerator, Washer
Exterior
Parking Features Parking Spaces - 19 to 30, Common, Deeded, Ground Level, Over 30 Spaces
Utilities Available BB/HS Internet Capable, Public, Water Connected
Water Access Yes
Water Access Desc Intracoastal Waterway
Roof Type Shingle
Building
Lot Description Cul-De-Sac, Curb and Gutters, Fire Hydrant, City Limits, Landscaped, Near Golf Course, Paved
Story 3
Entry Level Three Or More
Foundation Slab
Lot Size Range 1/2 to less than 1
Sewer Public Sewer
Water Public
Structure Type Block,Concrete,Stucco
New Construction true
Construction Status Completed
Others
Ownership Condominium
Acceptable Financing Assumable, Cash, Conventional, Trade, Lease Option, Lease Purchase, Owner Financing
Listing Terms Assumable, Cash, Conventional, Trade, Lease Option, Lease Purchase, Owner Financing
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/stellar/FC311334
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