29-UNIT CONVERTED IL/ALF - SELLER FINANCING! 340 N Boston Ave 64 Unité Immeuble d’appartements À vendre Deland, FL 32724

Originally constructed in 1926 as a school, the current owner is completing the conversion into an upscale 29-unit apartment building, Assisted Living/Independent Living facility or Student Housing to accommodate students attending Stetson University, located ½ mile from this property.
Construction is expected to be completed within the 1stQ of 2026.
Property includes:
• 4.27-Acres (2.25-Acres for Development)
• 29-Units/1-Building/1-Story/32,382 SF
• Built: 1926 Effective: 2026
• R-16
Upon completion, the owner plans to rent the units as apartment rentals, offering upscale services and capturing a higher than market rent. Twenty-seven of the units included include 1-bd/1bth, that capture an average market rent of $1500. Two units include 2-bds/1-Bth, that capture monthly rents over $2000.
In addition to the 29 rental units, the building includes a commercial kitchen/cafeteria, an auditorium (stage included), offices and lounge areas, making it a great candidate for Independent or Assisted Living, that capture an average rate of $4000/unit for IL and up to $8000/bed for AL.
The structure takes up approximately half of the property, leaving about 2.25-acres for further development that could include an additional 32 units.
Asking Price: Seller will consider all reasonable offers.
Seller Financing: Offered to Qualified Purchasers