12 Beds
12 Baths
8,400 SqFt
12 Beds
12 Baths
8,400 SqFt
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 8,400 sqft
Price per Sqft $237
Subdivision Memento
MLS Listing ID O6436885
Bedrooms 12
HOA Y/N No
Year Built 1974
Annual Tax Amount $26,881
Lot Size 10,018 Sqft
Acres 0.23
Lot Dimensions 100 x 124
Property Sub-Type Quadruplex
Source Stellar MLS
Property Description
The three-story, concrete-block building was completely renovated in 2022 with extensive improvements throughout, including new impact-rated windows and doors, new roof, aluminum-rated railings, interior and exterior paint, luxury vinyl plank flooring, HVAC systems, water heaters, stainless-steel appliances, solid-wood cabinetry, granite countertops, replumbing, upgraded electrical, lighting, and plumbing fixtures. The result is a substantially upgraded property designed for low-maintenance, long-term ownership.
The property consists of 12 spacious 1-bedroom/1-bathroom apartments, each approximately 700 square feet, featuring central air conditioning and generously sized living areas. Tenants pay their own electric, while ownership pays water and sewer. Trash, water, and sewer are consolidated under ownership.
The property is currently 100% leased, with one unit intentionally maintained vacant to accommodate prospective buyer tours and inspections. Current gross scheduled rental income is approximately $185,000 annually, with reported NOI of approximately $135,000 annually, providing an attractive in-place income stream with additional potential for future NOI growth.
Situated on approximately ¼ acre with ample tenant and guest parking, the property combines the advantages of a manageable 12-unit apartment community with one of Daytona Beach's most desirable beachside locations. The property's proximity to both the Atlantic Ocean and Halifax River provides an exceptional location for residents seeking convenient access to Daytona's beaches, restaurants, entertainment, employment centers, and amenities.
Investment highlights include: 12 units, concrete-block construction, extensive 2022 renovation, impact-rated windows and doors, new roof and major building systems, individually metered electric, approximately 700 SF per unit, ample parking, strong beachside location, and established rental income.
Strategic upside may exist through future rent optimization and/or alternative permitted rental strategies, subject to buyer verification of zoning, licensing, applicable regulations, and market conditions.
Located approximately 0.7 mile from Ocean Walk Village, 0.4 mile from the Atlantic Avenue commercial corridor, and minutes from the Daytona Beach Boardwalk, Main Street entertainment district, Halifax Health Medical Center, and Daytona Beach International Airport.
Offered at $1,995,000. This is an exceptional opportunity to acquire a substantially renovated, income-producing multifamily asset in one of Daytona Beach's most desirable beachside locations.
Location
State FL
County Volusia
Community Memento
Area 32118 - Daytona Beach/Holly Hill
Zoning 10+ UNITS
Interior
Interior Features Ceiling Fans(s), High Ceilings, Kitchen/Family Room Combo, Open Floorplan, Solid Wood Cabinets, Stone Counters, Thermostat
Heating Central, Electric
Cooling Central Air
Fireplace false
Laundry Common Area
Exterior
Exterior Feature Other
Utilities Available Public
View Y/N Yes
Water Access No
View Beach
Roof Type Shingle
Garage false
Private Pool No
Building
Entry Level Three Or More
Foundation Slab
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Structure Type Block
New Construction false
Others
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/stellar/O6436885
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