Waterfront Condo with Panoramic
1415 OCEAN SHORE Boulevard M120 Ormond Beach, FL 32176
1415 OCEAN SHORE Boulevard M120, Ormond Beach, FL, 32176
$299,000
For Sale
$299,000
Updated waterfront condo with ocean views and many amenities.
Property Size1,225 SF
Lot Size1.96 Acres
Price / SF$244.08
Days on Market859
Property Features for 1415 OCEAN SHORE Boulevard M120
General Information
- Standard status
- Active
- Size
- 1,225 SF
- Lot size
- 1.96 Acres
- Property subtype
- Condo/Townhome
Building Details
- Year Built
- 1974
Listing Agency
WILLIAM RAVEIS REAL ESTATE
(860) 712-8171
Listed by
GINA MCDONALD · License #3493743
(860) 712-8171
Source
Exitrealty
Added: Mar 11, 2024 Checked: Jul 17 at 3:33 am
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 WILLIAM RAVEIS REAL ESTATE
Investment Insights
Based on property information with market context.
This waterfront property offers panoramic views overlooking the Intracoastal Waterway and the Atlantic Ocean, with white sand beach access. The corner unit, located on the top floor, features extra windows that provide ample natural light. Recent updates include fresh paint, new flooring, and updated kitchen and bathrooms. A private balcony offers space to enjoy the views. Residents have access to a range of amenities, including a pool, sundeck, game room, secure storage, indoor parking, laundry area, and an indoor gym. Pets are allowed. The property has upgraded electrical, water, sewer, and fire protection systems. The unit has 1225 square feet of space.
Key Highlights
- Panoramic waterfront views overlooking the Intracoastal Waterway and Atlantic Ocean with direct access to a white sand beach.
- Top‑floor corner unit with extra windows providing abundant natural light and privacy.
- Recently updated with fresh paint, new flooring, and updated kitchen and baths.
Local 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 | $19.0k | $15.48 |
| − Vacancy | −$2.0k | −$1.63 |
| EGI | $17.0k | $13.85 |
| − OpEx | −$7.6k | −$6.23 |
| NOI | $9.3k | $7.62 |
1,225 SF · lease $15.48/SF/yr · vacancy 10.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$133.4K
$116.7K – $155.6K
NOI $9,335 @ 7.0% cap · market cap 3.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$361.2K
$316.1K – $421.4K
NOI $25,284 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Regency Plaza Condominium
Condominium Complex
Southern State of mind
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Residential income property - Updated waterfront condo with ocean views and many amenities.
Where is this residential income property located?
The property is located at 1415 OCEAN SHORE Boulevard M120 Ormond Beach, FL.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Panoramic waterfront views overlooking the Intracoastal Waterway and Atlantic Ocean with direct access to a white sand beach.; Top‑floor corner unit with extra windows providing abundant natural light and privacy.; Recently updated with fresh paint, new flooring, and updated kitchen and baths.
