8-Unit Apartment
For Sale
$899,000
601 STATE Avenue, Daytona Beach, FL 32117
Residential Income, DAYTONA BEACH, FL
Property Size5,194 SF
Lot Size0.14 Acres
Price / SF$173.08
Days on Market499
Property Features for 601 STATE Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
09R7
Bedrooms
11
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 1, Bedroom 11, Bathroom 1, Bedroom 10, Bathroom 7, Bedroom 4, Bedroom 6, Bathroom 6, Bathroom 4, Bathroom 5, Bedroom 8, Bedroom 5, Bedroom 7, Bedroom 2, Bathroom 8, Bedroom 3, Bathroom 3, Bathroom 2, Bedroom 9
Interior features
Ninguno
Exterior features
Balcony
Subdivision
PINE CREST ADD HOLLY HILL
Directions
Go south bound on Ridgewood Ave, take a right on 6th St and another right on State Ave. Building is on the right.
Standard status
Active
APN
5337-01-00-0760
Size
5,194 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOT 76 PINE CREST ADD HOLLY HILL MB 6 PG 56 PER OR 4665 PG 1288 PER OR 7901 PG 2079 PER OR 7901 PG 4177
Tax Annual Amount
9158
Legal Description
LOT 76 PINE CREST ADD HOLLY HILL MB 6 PG 56 PER OR 4665 PG 1288 PER OR 7901 PG 2079 PER OR 7901 PG 4177
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air, Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
central air conditioning
Building Details
Year built
1973
Number of units
8
Building materials
Concrete
Roof type
Shingle
Listing Agency:
FLORIDA REALTY INVESTMENTS
(407) 207-2220
Listed By:
Tito Urbano Perez
(407) 907-0350
Added: Jun 12, 2025
Changed: Oct 23
Last Checked: Oct 23 at 2:06PM
MLS# TB8396339
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.
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Investment Insights
Based on property information with market context.
This 8-unit apartment building at 601 State Avenue in Daytona Beach contains 5,194 square feet on a 0.14-acre site. The unit mix includes five one-bedroom, one-bath apartments and three two-bedroom, one-bath apartments. Each unit has central air conditioning and separately metered electric service. The property also includes balconies and concrete construction on slab foundations, with a shingle roof.
Public water and public sewer serve the property. The landlord is responsible for city water, sewer, and trash services. Built in 1973, the building is located in Daytona Beach, Florida, near major thoroughfares, employment centers, and coastal amenities.
Public water and public sewer serve the property. The landlord is responsible for city water, sewer, and trash services. Built in 1973, the building is located in Daytona Beach, Florida, near major thoroughfares, employment centers, and coastal amenities.
Key Highlights
- 8‑unit apartment building with 5,194 square feet
- Unit mix includes five 1‑bedroom/1‑bath and three 2‑bedroom/1‑bath apartments
- 0.14‑acre lot at 601 State Avenue, Daytona Beach, FL 32117
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,578
Cap Rate
4.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$791,560
$791.6K
Cap Rate 7%
$565,400
$565.4K
Cap Rate 9%
$439,756
$439.8K
Market Conditions
NOI Build-Up for 5,194 SF
Gross rent
$80.4K $15.48/SF
− Vacancy
−$8.4K −$1.63/SF
EGI
$72.0K $13.85/SF
− OpEx
−$32.4K −$6.23/SF
NOI
$39.6K $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 Rate 5%
$791,560
Cap Rate 7%
$565,400
Cap Rate 9%
$439,756
Alternative Uses
Best Use
Apartment 5plus
$565.4K
$494.7K – $659.6K
NOI $39,578 @ 7.0% cap · market cap 4.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,204 @ 7.0% cap · market cap 11.92%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
8
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
810
Businesses Nearby
Explore this area
Business Placement
Demographics for 32117, FL
28,223
Population
14,392
Households
2
Avg Household Size
43
Median Age
21%
College-Educated
90%
High-School Grad
12.0 sq mi
ZIP Area
2,352
Density / Sq Mi
$52,132
Median Household Income
$32,189
Median Earnings
$1,392
Median Rent
$175,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with a varied one- and two-bedroom unit mix and separately metered electric service.
Where is this apartment building located?
The property is located at 601 STATE Avenue Daytona Beach, FL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 8‑unit apartment building with 5,194 square feet; Unit mix includes five 1‑bedroom/1‑bath and three 2‑bedroom/1‑bath apartments; 0.14‑acre lot at 601 State Avenue, Daytona Beach, FL 32117
