4-Unit Multifamily
For Sale
$830,000
424 Daytona Street, Daytona Beach, FL 32114
Residential Income, Daytona Beach, FL
Property Size2,880 SF
Lot Size0.20 Acres
Price / SF$288.19
Days on Market21
Property Features for 424 Daytona Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 4, Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 3, Bathroom 2, Bedroom 5, Bedroom 1
Parking features
Parking Lot
Appliances
Refrigerator, Electric Range
Subdivision
Not on the List
Lot features
Corner Lot
Directions
Head South on W International Speedway Blvd, Turn left to N Ridgewood Ave, Make a right turn to Fairview Ave, Turn Right to Daytona St. House on the left
Standard status
Active
APN
5338-37-00-0020
Size
2,880 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
38-15-33 LOT 2 & E 40 FT OF LOT 3 GORDON COURT MB 6 PG 190 MB 18 PG 109 OF DD ROGERS DB C PG 700 MB 14 PG 110 PER OR 4178 PG 3672 PER OR 8420 PG 0937
Tax Annual Amount
7547
Legal Description
38-15-33 LOT 2 & E 40 FT OF LOT 3 GORDON COURT MB 6 PG 190 MB 18 PG 109 OF DD ROGERS DB C PG 700 MB 14 PG 110 PER OR 4178 PG 3672 PER OR 8420 PG 0937
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1973
Floors in Building
1
Number of units
4
Flooring type
Tile
Building materials
Block, Cement Siding
Roof type
Shingle
Listing Agency:
Oceans Luxury Realty Full Service LLC
(386) 455-0830
Listed By:
Cheryl Gray · License #3434739
(386) 316-7808
Added: Aug 14
Changed: Aug 27
Last Checked: Sep 3 at 11:06AM
MLS# 1229686
Copyright © 2026 Daytona Beach Area Association of Realtors. 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 4-unit multifamily property contains 2,880 square feet on a 0.2-acre lot and was built in 1973. The building is fully leased, with recent improvements including updated appliances, air-conditioning systems, flooring, and lighting completed approximately two years ago. A shingle roof is approximately three years old. Construction includes block and cement siding, with tile flooring, central heating, and central air. The property includes a parking lot, public water, and public sewer.
Located at 424 Daytona Street in Daytona Beach, the property sits near Beach Street and downtown restaurants, bars, shopping, baseball games, employment centers, and transportation. The beach is also nearby. FHA and VA financing may support an owner-occupied multifamily strategy, subject to applicable lender and program requirements.
Located at 424 Daytona Street in Daytona Beach, the property sits near Beach Street and downtown restaurants, bars, shopping, baseball games, employment centers, and transportation. The beach is also nearby. FHA and VA financing may support an owner-occupied multifamily strategy, subject to applicable lender and program requirements.
Key Highlights
- 4 units, all currently leased
- 2,880 square feet on a 0.2‑acre lot
- Appliances, A/Cs, flooring, and lighting updated approximately 2 years ago
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
$25,265
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
3.04%
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%
$505,300
$505.3K
Cap Rate 7%
$360,929
$360.9K
Cap Rate 9%
$280,722
$280.7K
Market Conditions
NOI Build-Up for 2,880 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
$40.1K $13.92/SF
− Vacancy
−$4.0K −$1.39/SF
EGI
$36.1K $12.53/SF
− OpEx
−$10.8K −$3.76/SF
NOI
$25.3K $8.77/SF
Area
Volusia County, FL
Vacancy
9.97%
Lease Rate
$13.92 /SF/Yr
Expense Ratio
30.00%
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%
$505,300
Cap Rate 7%
$360,929
Cap Rate 9%
$280,722
Alternative Uses
Best Use
Multifamily LT 5
$360.9K
$315.8K – $421.1K
NOI $25,265 @ 7.0% cap · market cap 3.04%
Second Best
Apartment 5plus
$313.5K
$274.3K – $365.8K
NOI $21,946 @ 7.0% cap · market cap 2.64%
Theoretical Best
Office A
$849.2K
$743.0K – $990.7K
NOI $59,443 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,363
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased building with updated interiors and systems near Beach Street and downtown amenities.
Where is this quadplex located?
The property is located at 424 Daytona Street Daytona Beach, FL.
What is the asking price?
The asking price for this property is $830,000.
What are key features of this property?
This property features: 4 units, all currently leased; 2,880 square feet on a 0.2‑acre lot; Appliances, A/Cs, flooring, and lighting updated approximately 2 years ago
