Downtown Multi-Family

Enjoying an excellent downtown location, rare off-street parking and legal multi-family zoning, the cottage at 54 Carrera and quadriplex at 54 1/2 Carrera Street present a number of options for future use. The past 20 years primary use has been providing rentals for Flagler College students but demand for vacation rentals and higher-end intermediate and long-term rentals also offer new possibilities to generate increased income streams year-round from wider and different demographic of occupant.

Finding all the necessary components in one place can be difficult but the Carrera “compound” has everything you need to maximize utility of the property and take advantage of its location within 3-4 blocks of a multitude of restaurants, galleries, entertainment venues, Flagler College campus, historic sites, a wealth of architectural treasures and the bayfront esplanade on the Matanzas River. With just over 2,900SF, Apts A and B are down and C and D up. A is 2/2 with laundry and porch and Apt B is 1/1 with small porch. C and D are accessed through front door and common vestibule. C is a 1/1 with additional sunroom and D is a 2/2. Detached cottage is a 2-story 2/1 with living, dining, galley kitchen and front porch. Quad saw a major reno in 1999-2000 with a respected general contractor who updated all mechanicals and created intelligent living spaces. Cottage saw some reno work shortly thereafter.

Each unit has separate water and electric meters and most of the central heat/air systems were recently replaced. With a little effort and some aesthetic interior improvements the quad will be ready for action. Cottage has deferred maintenance which needs attending but you can set the schedule and start generating revenue next door first. It is possible to get one more parking spot on-site and there is on-street parking available on a first-come basis.

Owner did not renew any leases (all ended this summer) so you can start with a clean slate. Make a list of ?s and we’ll get on them.