Daytona Beach Multifamily Investment
927 N Grandview Avenue Daytona Beach, FL 32118
927 N Grandview Avenue, Daytona Beach, FL, 32118
$579,000
For Sale
$579,000
Beachside multifamily property near Daytona Beach with strong income potential.
Property Size3,396 SF
Price / SF$170.49
Days on Market466
Property Features for 927 N Grandview Avenue
General Information
- Standard status
- Active
- Size
- 3,396 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1955
Listing Agency
Coldwell Banker Premier Properties
(386) 383-3690
Listed by
Tina Turner · License #3058114
(386) 383-3690
Source
Exitrealty
Added: Apr 9, 2025 Checked: Jul 17 at 4:36 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 Coldwell Banker Premier Properties
Investment Insights
Based on property information with market context.
Located just three blocks from Daytona Beach, this multifamily property features five units across two buildings on a single commercial parcel. The property is fully occupied with one-year leases and generates a gross rental income of approximately $6,100 per month, including income from the on-site coin-operated laundry. The property has adequate on-site and street parking. The buildings have new roofs that are two years old. The location offers convenient access to the beach, river, places of worship, restaurants, entertainment, and employment opportunities. Bus stops are located nearby. The surrounding area is a mix of residential and multifamily properties. Several units have been renovated and tenanted long term. Parking between the buildings accommodates five cars, with additional street parking available. Each unit has a separate electric meter. The front duplex has separate water meters, while the rear triplex has one water meter. The property is professionally managed and has termite bonds in place. Short-term rentals are not allowed.
Key Highlights
- High 8.33% CAP Rate
- Only 3 Blocks from Daytona Beach
- Two Year Old New Roofs
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 | $52.6k | $15.48 |
| − Vacancy | −$5.5k | −$1.63 |
| EGI | $47.1k | $13.85 |
| − OpEx | −$21.2k | −$6.23 |
| NOI | $25.9k | $7.62 |
3,396 SF · lease $15.48/SF/yr · vacancy 10.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$369.7K
$323.5K – $431.3K
NOI $25,878 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.00M
$876.2K – $1.17M
NOI $70,093 @ 7.0% cap · market cap 12.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Beachside multifamily property near Daytona Beach with strong income potential.
Where is this apartment building located?
The property is located at 927 N Grandview Avenue Daytona Beach, FL.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: High 8.33% CAP Rate; Only 3 Blocks from Daytona Beach; Two Year Old New Roofs
