1 Wheel PlPalm Coast, FL 32164

Property Details for 1 Wheel Pl

Year built

2023

Property size (Sq ft)

2,622 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional Class A duplex in Palm Coast, Florida presents a compelling investment opportunity. Boasting a total of 2,622 square feet on an expansive 14,258 square foot lot (.33 acres), this property offers significant potential. Built in 2023, the duplex features two identical units, each spanning 1,311 square feet, including a 499 square foot two-car garage and a 158 square foot covered lanai. Each unit boasts an open floor plan with cathedral ceilings, recessed lighting, eight-foot doors, and ten-foot ceilings. High-end finishes include quartz countertops, tile backsplashes, cultured marble vanities, and tiled showers/tubs. Samsung washer/dryers are conveniently located in the garages, which also feature epoxy-coated floors, electric door openers, and pull-down attic stairs. Currently tenant-occupied with 6-12 month leases, the property generates a strong NOI of $32,200, representing a 5.38% cap rate. The asking price is $599,000 ($299,500 per unit). The units are fully firewall separated, allowing for future division into separate deeded properties. Its prime location offers easy access to Palm Coast Parkway, US-1, Belle Terre Blvd, and I-95 (within five miles). This property is ideal for investors seeking strong returns and multigenerational living options. The APN is 07-11-31-7023-00520-0240. The address is 1 Wheel Pl, Palm Coast, FL 32164.

Location Insight

City

Palm Coast

County

Flagler

State

Florida

Latitude

29.5223

Longitude

-81.2471

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