Historic Residential Income
For Sale
$1,650,000
404 S RIDGEWOOD Avenue, Daytona Beach, FL 32114
MULTI_FAMILY - DAYTONA BEACH, FL
Property Size16,021 SF
Lot Size0.87 Acres
Price / SF$102.99
Days on Market443
Property Features for 404 S RIDGEWOOD Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
02T2
Bedrooms
31
Bathrooms
13
Full bathrooms
13
Rooms
Bathroom 7, Bathroom 4, Bedroom 26, Bathroom 3, Bathroom 10, Bedroom 10, Bedroom 4, Bedroom 23, Bedroom 6, Bathroom 11, Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 12, Bedroom 20, Bedroom 22, Bathroom 13, Bedroom 21, Bedroom 18, Bedroom 19, Bedroom 16, Bedroom 27, Bedroom 28, Bathroom 5, Bathroom 9, Bedroom 13, Bedroom 31, Bathroom 12, Bedroom 7, Bedroom 24, Bedroom 25, Bedroom 5, Bathroom 6, Bedroom 29, Bedroom 11, Bedroom 15, Bedroom 14, Bedroom 3, Bedroom 17, Bedroom 30, Bathroom 8, Bedroom 9, Bedroom 2, Bedroom 8
Parking features
Guest
Interior features
Ceiling Fans(s), High Ceilings, Vaulted Ceiling(s)
Fireplace
1
Appliances
Built-In Oven, Cooktop, Dishwasher, Disposal, Dryer, Electric Water Heater, Exhaust Fan
Subdivision
HODGMANS DAYTONA
Lot features
Corner Lot
Directions
Exit I 95 east to Ridgewood Ave, head sound 4 blocks on west side of road.
Standard status
Active
APN
5339-01-17-0062
Size
16,021 SF
Lot size
0.87 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
N 1/2 OF LOT 5 EXC HWY & E 144 FT OF LOT 6 EXC HWY BLK 17 DAYTONA PER OR 3497 PG 1396 PER OR 6622 PGS 1312-1314 PER OR 6634 PG 2945 PER OR 6816 PG 0127 PER OR 7420 PG 2577 PER OR 7660 PG 2508 PER OR 8196 PG 2551 PER OR 8206 PG 1829 PER OR 8209 PG 420 5 PER
Tax Annual Amount
7755
Legal Description
N 1/2 OF LOT 5 EXC HWY & E 144 FT OF LOT 6 EXC HWY BLK 17 DAYTONA PER OR 3497 PG 1396 PER OR 6622 PGS 1312-1314 PER OR 6634 PG 2945 PER OR 6816 PG 0127 PER OR 7420 PG 2577 PER OR 7660 PG 2508 PER OR 8196 PG 2551 PER OR 8206 PG 1829 PER OR 8209 PG 420 5 PER
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Attic Fan, Central Air
Water source
Public
Building Details
Year built
1901
Floors in Building
3
Number of units
30
Flooring type
Wood, Tile
Building materials
Brick, Vinyl Siding, Frame, Wood Siding
Roof type
Shingle
Listing Agency:
ADAMS, CAMERON & CO., REALTORS
(386) 738-1920
Listed By:
Daniel Lyonnais · License #3196672
(386) 852-7932
Added: Jun 1, 2025
Changed: Aug 13
Last Checked: Aug 17 at 8:06AM
MLS# V4943079
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale residential income portfolio includes five parcels anchored by an approximately 8,000 SF fully renovated Historic Victorian home listed on the U.S. National Register of Historic Places. The offering also includes a 7,000 SF co-living property identified as 404 & 408 S Ridgewood Ave, as well as an additional 1,021 SF house identified as 315 Live Oak Ave. In addition to the improved properties, the portfolio includes three adjacent land parcels totaling approximately 0.51 acres along Live Oak Avenue and Segrave St, zoned T-2 and described as allowing a wide variety of uses. The portfolio also notes inclusion of over $100,000 in furniture and fixtures for a turnkey rented presentation.
The properties are described as having 164 feet of frontage on US-1, with the location noted as minutes from the beach, the Intercoastal Waterway, and major attractions.
Reported renovation and operating details include recent leases with Pad Split, with the current lease with Pad Split noted as running through July 2025 for the portfolio.
The properties are described as having 164 feet of frontage on US-1, with the location noted as minutes from the beach, the Intercoastal Waterway, and major attractions.
Reported renovation and operating details include recent leases with Pad Split, with the current lease with Pad Split noted as running through July 2025 for the portfolio.
Key Highlights
- 5‑parcel portfolio including an 8,000 SF historic Victorian home and two additional income homes plus 3 adjacent land parcels
- Historic Victorian home built in 1901; listed on the U.S. National Register of Historic Places with 10 bedrooms and 5 full bathrooms
- 8,000 SF Victorian features two basement apartments; current Pad Split lease runs through July 2025
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$122,081
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.40%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,441,620
$2.4M
Cap Rate 7%
$1,744,014
$1.7M
Cap Rate 9%
$1,356,456
$1.4M
Market Conditions
NOI Build-Up for 16,021 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$248.0K $15.48/SF
− Vacancy
−$26.0K −$1.63/SF
EGI
$222.0K $13.85/SF
− OpEx
−$99.9K −$6.23/SF
NOI
$122.1K $7.62/SF
Area
Volusia County, FL
Vacancy
10.50%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,441,620
Cap Rate 7%
$1,744,014
Cap Rate 9%
$1,356,456
Alternative Uses
Best Use
Apartment 5plus
$1.74M
$1.53M – $2.03M
NOI $122,081 @ 7.0% cap · market cap 7.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.72M
$4.13M – $5.51M
NOI $330,673 @ 7.0% cap · market cap 20.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,555
Businesses Nearby
Explore this area
Business Placement
Demographics for 32114, FL
34,943
Population
17,118
Households
2
Avg Household Size
33
Median Age
19%
College-Educated
89%
High-School Grad
16.0 sq mi
ZIP Area
2,184
Density / Sq Mi
$39,906
Median Household Income
$31,220
Median Earnings
$1,171
Median Rent
$174,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Five parcels include fully renovated historic and co-living properties plus three adjacent buildable land lots.
Where is this apartment building located?
The property is located at 404 S RIDGEWOOD Avenue Daytona Beach, FL.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 5‑parcel portfolio including an 8,000 SF historic Victorian home and two additional income homes plus 3 adjacent land parcels; Historic Victorian home built in 1901; listed on the U.S. National Register of Historic Places with 10 bedrooms and 5 full bathrooms; 8,000 SF Victorian features two basement apartments; current Pad Split lease runs through July 2025
