Tropical Resort & Marina
1485 Lakeview Drive, Deland, FL
21.31% return
SP:
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Property Description

*Do not call the resort* PARADISE FOR SALE!!!!!! 

Tropical Resort & Marina is composed of 17 cozy rental rooms with full kitchens, owner's house, office/store, swimming pool, 55 boat slips and 4 pontoon rental boats! BUSINESS AND REAL ESTATE INCLUDED IN SALE!! Located right on Lake Beresford, this property is a truly hidden gem!! Rooms are fully furnished and in great shape! Perfect lifestyle for the owner to live on the lake while running a profitable business! POTENTIAL TO GENERATE A 21%+ NET RETURN ON INVESTMENT AFTER EXPENSES!!!! Direct access to St. Johns river. Run this property as a HOTEL RESORT or an APARTMENT BUILDING. ENDLESS POSSIBILITIES!!! PERFECT RETIREMENT!!! 

Financing is available. Call us for inquiries! Visit us at tropicalresortandmarina.com !

Property Information

  • Listing statusActive
  • Property typeMulti Family
  • Total units18
  • Total bedrooms23
  • Total bathrooms18
  • Building size13292 sq. ft.
  • Lot size3.8 acres
  • Year built1967
  • CountyVolusia County
  • SubdivisionHOUGH PAXTON & WILSON
  • ConstructionCBS
  • RoofAsphalt Shingle
  • Water sourceCity water
  • Water disposalSeptic
  • HeatingMini-Split Heating, Central
  • CoolingMini-Split Cooling, Central air

Property Financial Summary

  • Sale price $2,450,000
  • Estimated rehab 1 $0
  • Total investment $2,450,000
  • Type Proforma
  • Gross income (annually) $927,360
  • Operating expenses (annually) $405,368
  • Net income (annually) $521,992
  • Gross return 37.85%
  • Gross income (monthly) $77,280
  • Operating expenses (monthly) $33,781
  • Net income (monthly) $43,499
  • Net return 21.31%

Property Income & Expenses

  • Income
  • Marina Slips $8,730/month $104,760/year
  • Miscellaneous Income $1,000/month $12,000/year
  • Boat Rentals $7,500/month $90,000/year
  • House
  • Unit 218: 1 bed / 1 bath $2,000/month $24,000/year
  • Resort Rooms
  • Unit 201: 3 bed / 1 bath $6,450/month $77,400/year
  • Unit 202: 1 bed / 1 bath $3,000/month $36,000/year
  • Unit 203: 1 bed / 1 bath $3,000/month $36,000/year
  • Unit 204: 1 bed / 1 bath $3,000/month $36,000/year
  • Unit 205: 1 bed / 1 bath $3,000/month $36,000/year
  • Unit 206: 2 bed / 1 bath $4,200/month $50,400/year
  • Unit 207: 1 bed / 1 bath $3,000/month $36,000/year
  • Unit 208: 1 bed / 1 bath $3,000/month $36,000/year
  • Unit 209: 1 bed / 1 bath $3,000/month $36,000/year
  • Unit 210: 1 bed / 1 bath $3,000/month $36,000/year
  • Unit 211: 1 bed / 1 bath $3,000/month $36,000/year
  • Unit 212: 2 bed / 1 bath $4,200/month $50,400/year
  • Unit 213: 1 bed / 1 bath $3,000/month $36,000/year
  • Unit 214: 1 bed / 1 bath $3,000/month $36,000/year
  • Unit 215: 1 bed / 1 bath $3,000/month $36,000/year
  • Unit 216: 1 bed / 1 bath $3,000/month $36,000/year
  • Unit 217: 2 bed / 1 bath $4,200/month $50,400/year
  • Total $77,280/month $927,360/year
  • Expenses
  • Property Taxes $847/month $10,168/year
  • Insurance (estimated) $2,000/month $24,000/year
  • Cable and internet bill $450/month $5,400/year
  • Waste Collection $380/month $4,560/year
  • Water Treatment $450/month $5,400/year
  • Supplies $333/month $4,000/year
  • Housekeeping $2,000/month $24,000/year
  • Lawn care $1,200/month $14,400/year
  • Maintenance reserve $3,000/month $36,000/year
  • Payroll Expenses $2,000/month $24,000/year
  • Pool Maintenance $800/month $9,600/year
  • Fuel $1,000/month $12,000/year
  • Vacancy Loss $19,320/month $231,840/year
  • Total $33,781/month $405,368/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.

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