Eight-Unit Apartment Building with
For Sale
$549,900
1202 Ridgewood Ave, Daytona Beach, FL 32117
Fully occupied efficiency-unit property with a commercial-grade swimming pool completed in 2023.
Property Size2,112 SF
Price / SF$260.37
Days on Market63
Property Features for 1202 Ridgewood Ave
General Information
Standard status
Active
Size
2,112 SF
Property subtype
Multi-Family
Building Details
Year Built
1984
Listing Agency:
RE/MAX Signature
Listed By:
Ron Wysocarski
(386) 871-7697
Source:
Ronsellsthebeach
Added: Aug 8
Changed: Oct 7
Last Checked: Oct 7 at 12:28PM
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 RE/MAX Signature
Investment Insights
Based on property information with market context.
This apartment property contains eight rented efficiency units and is fully occupied. Built in 1984, it includes a commercial-grade swimming pool completed in 2023. The pool adds a substantial shared amenity to the property while the efficiency-unit configuration provides multiple residences within one asset.
The property is positioned along the Ridgewood Avenue corridor, with access to Daytona Beach, Ormond Beach, shopping, dining, public transportation, and area beaches. Its location places several daily conveniences and coastal destinations within the surrounding area.
The property is positioned along the Ridgewood Avenue corridor, with access to Daytona Beach, Ormond Beach, shopping, dining, public transportation, and area beaches. Its location places several daily conveniences and coastal destinations within the surrounding area.
Key Highlights
- Eight rented efficiency units
- Fully occupied apartment property
- Commercial‑grade swimming pool completed in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,094
Cap Rate
2.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$321,880
$321.9K
Cap Rate 7%
$229,914
$229.9K
Cap Rate 9%
$178,822
$178.8K
Market Conditions
NOI Build-Up for 2,112 SF
Gross rent
$32.7K $15.48/SF
− Vacancy
−$3.4K −$1.63/SF
EGI
$29.3K $13.85/SF
− OpEx
−$13.2K −$6.23/SF
NOI
$16.1K $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%
$321,880
Cap Rate 7%
$229,914
Cap Rate 9%
$178,822
Alternative Uses
Best Use
Apartment 5plus
$229.9K
$201.2K – $268.2K
NOI $16,094 @ 7.0% cap · market cap 2.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$622.7K
$544.9K – $726.5K
NOI $43,592 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
644
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied efficiency-unit property with a commercial-grade swimming pool completed in 2023.
Where is this apartment building located?
The property is located at 1202 Ridgewood Ave Daytona Beach, FL.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Eight rented efficiency units; Fully occupied apartment property; Commercial‑grade swimming pool completed in 2023
