Downtown 13-Unit Multifamily
116-128 Michigan Avenue Daytona Beach, FL 32114
116-128 Michigan Avenue, Daytona Beach, FL, 32114
$1,200,000
For Sale
$1,200,000
Fully occupied 13-unit portfolio across five addresses on Michigan Avenue and N Beach Street.
Days on Market19
Property Features for 116-128 Michigan Avenue
General Information
- Standard status
- Active
- Property subtype
- Multifamily
Listing agency
SVN | Alliance Commercial Real Estate Advisors Ormond Beach
(407) 334-4200
Listed by
Mark Ascik · License #FL #SL3555494
(407) 334-4200
Source
Svn
Added: Jul 3 Updated: Jul 21 at 2:46AM Checked: Jul 21 at 6:27AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SVN | Alliance Commercial Real Estate Advisors Ormond Beach
Investment Insights
Based on property information with market context.
This for-sale multifamily portfolio consists of 13 tenant-occupied units within a five-address assemblage across Michigan Avenue and N Beach Street in Downtown Daytona Beach. The portfolio is currently 100% occupied, providing immediate, day-one income with no lease-up risk. The seller has indicated a 9.8% cap rate and that seller financing is available.
The offering is also positioned as a value-add opportunity, with renovations planned at turnover and potential rental rate increases. The property’s setting is described in the remarks as being steps from the Daytona Beach Riverfront Esplanade, adjacent to the 400 Beach luxury apartment community, and within proximity to Jackie Robinson Ballpark. The trade area is further supported by Brown & Brown Insurance’s global headquarters.
Overall, the scale of the five-address portfolio is presented as a way to support operational efficiencies and longer-term redevelopment optionality.
The offering is also positioned as a value-add opportunity, with renovations planned at turnover and potential rental rate increases. The property’s setting is described in the remarks as being steps from the Daytona Beach Riverfront Esplanade, adjacent to the 400 Beach luxury apartment community, and within proximity to Jackie Robinson Ballpark. The trade area is further supported by Brown & Brown Insurance’s global headquarters.
Overall, the scale of the five-address portfolio is presented as a way to support operational efficiencies and longer-term redevelopment optionality.
Key Highlights
- Fully occupied 13‑unit multifamily portfolio (100% occupancy) across five addresses
- Portfolio includes properties across Michigan Avenue and N Beach Street in Downtown Daytona Beach
- Stated 9.8% cap rate for the fully‑occupied portfolio
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Fully occupied 13-unit portfolio across five addresses on Michigan Avenue and N Beach Street.
Where is this apartment building located?
The property is located at 116-128 Michigan Avenue Daytona Beach, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Fully occupied 13‑unit multifamily portfolio (100% occupancy) across five addresses; Portfolio includes properties across Michigan Avenue and N Beach Street in Downtown Daytona Beach; Stated 9.8% cap rate for the fully‑occupied portfolio
