5-Unit Apartment
New
For Sale
$699,990
150 Oak Ridge Avenue, Edgewater, FL 32132
Residential Income, Edgewater, FL
Property Size3,780 SF
Lot Size0.33 Acres
Price / SF$185.18
Days on Market2
Property Features for 150 Oak Ridge Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi Family
Bedrooms
10
Bathrooms
7
Full bathrooms
6
Half bathrooms
1
Rooms
Bedroom 2, Bathroom 5, Bedroom 6, Bedroom 4, Bathroom 2, Bedroom 7, Bedroom 1, Bedroom 9, Bedroom 5, Bedroom 3, Bedroom 8, Bathroom 6, Bathroom 3, Bathroom 7, Bathroom 4, Bathroom 1, Bedroom 10
Parking
5
Parking features
Assigned, Parking Lot
Exterior features
Courtyard
Appliances
Refrigerator, Electric Range, Dishwasher
Subdivision
Highland Shores
Directions
US 1 TO EDGWATER, TO RIGHT ON HIGHLAND AVE TO 150 OAK RIDGE AVE
Standard status
Active
APN
7451-01-05-0270
Size
3,780 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 27 TO 29 INC BLK E HIGHLAND SHORES SEC 1 MB 9 PG 63 PER OR 5057 PG 2285 PER OR 6759 PG 4275 PER OR 6885 PG 2561 PER OR 6917 PG 2165 PER OR 7660 PG 4748 PER OR 7667 PG 0523
Tax Annual Amount
7495
Legal Description
LOTS 27 TO 29 INC BLK E HIGHLAND SHORES SEC 1 MB 9 PG 63 PER OR 5057 PG 2285 PER OR 6759 PG 4275 PER OR 6885 PG 2561 PER OR 6917 PG 2165 PER OR 7660 PG 4748 PER OR 7667 PG 0523
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air, Separate Meters
Water source
Public
Building Details
Year built
1984
Floors in Building
1
Number of units
5
Flooring type
Vinyl, Tile, Carpet
Building materials
Concrete
Roof type
Shingle
Listing Agency:
Newberry Realty & Development Group Inc.
Listed By:
Patricia Temple
(386) 852-8757
Added: Oct 19
Last Checked: Oct 20 at 2:06PM
MLS# 1231909
Copyright © 2026 Daytona Beach Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This five-unit apartment property contains 3,780 square feet on a 0.33-acre parcel. Built in 1984, the concrete building includes a courtyard and assigned parking. Each apartment has two bedrooms, one bathroom, and a rear patio. Interior finishes include vinyl, tile, and carpet, with central electric heating and air conditioning. Appliances include a refrigerator, electric range, and dishwasher.
All five units are currently occupied under month-to-month leases. Public water and sewer serve the property, and cable is available. The property is at 150 Oak Ridge Avenue in Edgewater, near shopping and transportation.
All five units are currently occupied under month-to-month leases. Public water and sewer serve the property, and cable is available. The property is at 150 Oak Ridge Avenue in Edgewater, near shopping and transportation.
Key Highlights
- Five apartments, each with two bedrooms and one bathroom
- All units are rented on month‑to‑month leases
- 3,780 square feet on a 0.33‑acre parcel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,804
Cap Rate
4.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$576,080
$576.1K
Cap Rate 7%
$411,486
$411.5K
Cap Rate 9%
$320,044
$320.0K
Market Conditions
NOI Build-Up for 3,780 SF
Gross rent
$58.5K $15.48/SF
− Vacancy
−$6.1K −$1.63/SF
EGI
$52.4K $13.85/SF
− OpEx
−$23.6K −$6.23/SF
NOI
$28.8K $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%
$576,080
Cap Rate 7%
$411,486
Cap Rate 9%
$320,044
Alternative Uses
Best Use
Apartment 5plus
$411.5K
$360.1K – $480.1K
NOI $28,804 @ 7.0% cap · market cap 4.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$975.2K – $1.30M
NOI $78,019 @ 7.0% cap · market cap 11.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
Explore this area
Business Placement
Demographics for 32132, FL
8,189
Population
4,266
Households
1.9
Avg Household Size
52
Median Age
19%
College-Educated
93%
High-School Grad
7.0 sq mi
ZIP Area
1,170
Density / Sq Mi
$53,860
Median Household Income
$34,816
Median Earnings
$1,316
Median Rent
$234,900
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
Frequently Asked Questions
What type of property is this?
Apartment building - Each residence has two bedrooms, one bathroom, and a rear patio; all are leased month to month.
Where is this apartment building located?
The property is located at 150 Oak Ridge Avenue Edgewater, FL.
What is the asking price?
The asking price for this property is $699,990.
What are key features of this property?
This property features: Five apartments, each with two bedrooms and one bathroom; All units are rented on month‑to‑month leases; 3,780 square feet on a 0.33‑acre parcel
