Sell a Multifamily Property in Palm Coast, FL

Palm Coast was never laid out for apartment buildings. ITT platted it from 1972 as a city of single-family lots, and the census still reads that way: 32,586 owner-occupied homes against 7,221 rented ones, a homeownership rate of 81.9 percent. A triplex or fourplex inside the lettered sections is uncommon. If you own two, three or four units in Flagler County, you may be in Bunnell, in Flagler Beach, on an older parcel outside the ITT plat, or just across the county line in Ormond Beach or Daytona Beach. Scarcity cuts against you at sale time: there are few comparable sales for an appraiser to lean on, the local agent pool knows houses better than buildings, and the buyer with a commercial loan takes months. Meanwhile the one roof over several households, the insurance renewal and the tenant who stopped paying are all yours.

Palm Coast Cash Buyers buys small multifamily properties from their owners across Palm Coast and Flagler County and into Volusia and St. Johns, occupied or vacant, in any condition. We make a written offer within 24 hours of the visit and close in about a week once title is clear, or on a date you choose. This page is for the owner who wants to sell: how the leases and deposits move, why a small building is slow to list here, what the expense lines look like in 2026, and how an eviction already filed in Bunnell fits into a sale.

Under Fla. Stat. 83.49 a written lease survives the sale. The buyer takes the building subject to every lease in it, and each security deposit transfers to the new owner at closing. A month-to-month tenant stays on the same footing; ending that tenancy takes at least 30 days' written notice before the end of a monthly period, a rule that changed from 15 days in 2023, and it is not a step you need to take to sell. Showings follow Fla. Stat. 83.53: entry for repairs needs at least 24 hours' notice between 7:30 a.m. and 8:00 p.m., but a showing to a buyer happens with the tenant's consent or as the lease allows. We ask for one walk-through, arranged unit by unit. From the closing date the tenants pay us, and your obligations as landlord end.

A listing agent will ask for a rent roll, every lease, two years of expenses and access to every unit for inspections, then price the building against sales that barely exist in a county of detached houses. The buyer who appears usually needs a commercial or portfolio loan, and that lender wants the same package plus an appraisal that leans on income. Around all of that, the market itself is slow: Flagler County single-family homes took a median 97 days to sell in August 2026 with 4.4 months of supply, and 469 Palm Coast listings cut their price in the 30 days to October 20. We evaluate the building in one visit, price it on its real condition and real rents, and need no lender's approval. The offer is below a renovated, fully stabilized price; the comparison is your net after the vacancy, the work, the commission and the months of waiting.

Three lines push Flagler County owners toward the exit. Insurance first: the 2026 Citizens average in Flagler is $2,236 for a single policy, the statewide average premium is $3,815, and a roof at 15 years or older can trigger an inspection or a refusal to write under Fla. Stat. 627.7011; a building carries that risk on one roof for every unit. Taxes second: a rental has no homestead exemption and no Save Our Homes cap, so its assessed value can rise up to 10 percent a year, and Palm Coast taxable values rose 9.29 percent in 2025 on a city millage of 4.1387. Code third: the City of Palm Coast's Code Compliance Division sends a notice first, but unresolved cases reach the Code Enforcement Board, where nuisance accumulations have drawn $400 a day until an affidavit of compliance is filed. Rent has to cover all three.

A building with mixed tenants is still sellable as one piece. For a tenant who stopped paying, Florida's process starts with a 3-day written notice to pay or vacate, counted in business days; a 7-day notice covers other lease violations. The case is filed with Flagler County Civil on the second floor of the Kim C. Hammond Justice Center in Bunnell, or through the Florida e-Portal, for a filing fee of about $185 plus summons and sheriff fees, and a tenant who contests must deposit the disputed rent into the court registry. You do not have to finish the case before you sell. We buy the building with the tenancies as they stand, step into the landlord's position in the pending case at closing, and price the occupancy as it is. Back rent owed to you stays yours to pursue or forgive.

The maintenance a small building defers is multiplied by its units. A roof the insurer will no longer accept, an electrical service with one meter bank, a sewer line that backs up into the ground-floor unit, air conditioners that fail in the same summer. We buy buildings in that state and price the work once, in the written offer, with no inspection contingency. If the city or Flagler County has an open code case on the property, Fla. Stat. 162.06(5) requires you to disclose it to the buyer in writing, give the buyer copies of the notices and notify the code officer within 5 days of the transfer; we prepare all three, and any recorded lien is paid from the purchase price on the settlement statement. You make no repairs and give no credits.

Send the address, the number of units, current rents, lease end dates and which tenants are current. We arrange one visit with the tenants' consent, deliver a written offer within 24 hours of the visit, and open title when you accept. The title company prorates rents, moves the deposits with notice to each tenant, pays off your mortgage and any liens from the purchase price, and closes in about a week once the search is clean, or on a later date you set. Your net is the price minus the payoff and liens; we pay the customary closing costs and charge no commission. Selling a rental building is a taxable event, and the depreciation you took comes back into the picture, so ask your CPA before you fix a closing date. If the building is sound and fully rented at market, holding it may still serve you better, and we will say so.