Daytona Beach Multifamily
601 STATE Ave Daytona Beach, FL 32117
For Sale
$899,000
8-unit multifamily property in Daytona Beach with upside potential.
Property Size5,194 SF
Lot Size0.14 Acres
Price / SF$173.08
Days on Market140
Property Features for 601 STATE Ave
General Information
Standard status
Active
Size
5,194 SF
Lot size
0.14 Acres
Property subtype
Investment
Building Details
Year Built
1973
Listing Agency:
Lawhun Enterprises, LLC
(407) 907-0350
Listed By:
Tito Urbano Perez · License #3470017
(407) 907-0350
Source:
Elliman
Added: Mar 10
Changed: Jul 6
Last Checked: Jul 27 at 7:25AM
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 Lawhun Enterprises, LLC
Investment Insights
Based on property information with market context.
Crosscreek Apartments, constructed in 1973, is an 8-unit multifamily property located in Daytona Beach, Florida. The property encompasses 5,194 square feet on a 0.14-acre lot. The unit mix features three 2-bedroom/1-bath units and five 1-bedroom/1-bath units. Each unit includes central air conditioning and separately metered electric. The landlord is responsible for city water, sewer, and trash services. Constructed with block exterior walls on slab foundations, the property offers long-term durability. Situated in Daytona Beach, the property benefits from proximity to major thoroughfares, employment centers, and coastal amenities. This property presents a value-add opportunity for investors through potential rental increases.
Key Highlights
- Turnkey 8‑unit multifamily investment property.
- Immediate upside potential through rental increases.
- Desirable Daytona Beach location near major thoroughfares, employment centers, and coastal amenities.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $80.4k | $15.48 |
| − Vacancy | −$8.4k | −$1.63 |
| EGI | $72.0k | $13.85 |
| − OpEx | −$32.4k | −$6.23 |
| NOI | $39.6k | $7.62 |
5,194 SF · lease $15.48/SF/yr · vacancy 10.50% · expense 45.00%
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.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - 8-unit multifamily property in Daytona Beach with upside potential.
Where is this apartment building located?
The property is located at 601 STATE Ave 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: Turnkey 8‑unit multifamily investment property.; Immediate upside potential through rental increases.; Desirable Daytona Beach location near major thoroughfares, employment centers, and coastal amenities.
