Property Description

RARE 12-UNIT BEACHside MULTIFAMILY INVESTMENT OPPORTUNITY! Located in the heart of Beachside Daytona Beach, this exceptionally renovated 12-unit apartment building offers investors the opportunity to own a turnkey multifamily asset just one block from the Halifax River/Intracoastal and a short walk or bike ride to the Atlantic Ocean, Daytona Beach Boardwalk, Ocean Walk Village, Main Street entertainment, restaurants, and nightlife.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 1/4 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.

Property Features