Four-Building Garden-Style Apartment
For Sale
$6,000,000
1890 S Palmetto Avenue, South Daytona, FL 32119
COMMERCIAL - South Daytona, FL
Property Size33,000 SF
Lot Size0.75 Acres
Price / SF$181.82
Days on Market10
Property Features for 1890 S Palmetto Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
40
Full bathrooms
40
Rooms
Bathroom 20, Bathroom 2, Bathroom 19, Bathroom 10, Bathroom 21, Bathroom 28, Bathroom 37, Bathroom 12, Bathroom 16, Bathroom 25, Bathroom 36, Bathroom 27, Bathroom 13, Bathroom 22, Bathroom 35, Bathroom 30, Bathroom 18, Bathroom 17, Bathroom 9, Bathroom 33, Bathroom 6, Bathroom 1, Bathroom 38, Bathroom 11, Bathroom 3, Bathroom 4, Bathroom 29, Bathroom 40, Bathroom 5, Bathroom 34, Bathroom 15, Bathroom 8, Bathroom 39, Bathroom 26, Bathroom 31, Bathroom 32, Bathroom 23, Bathroom 24, Bathroom 14, Bathroom 7
Parking features
Assigned
Directions
From Beville Rd continue to S Palmetto Ave. North .6 Miles for 1160 Palm. and South .5 miles for 1180 Palm. Both West of road.
Subdivision
25 - Daytona S of Beville, E of Nova
Standard status
Active
APN
5344-16-00-0431
Size
33,000 SF
Lot size
0.75 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
E 331 FT OF LOT 43A E OF RIDGEWOOD AVE BLAKE DB E PG 150 MB 1 PG 38 PER OR 4673 PGS 1318-1319 PER OR 4673 PGS 1539-1540 PER OR 7792 PG 4778 PER OR 8452 PG 2562
Tax Annual Amount
64066
Legal Description
E 331 FT OF LOT 43A E OF RIDGEWOOD AVE BLAKE DB E PG 150 MB 1 PG 38 PER OR 4673 PGS 1318-1319 PER OR 4673 PGS 1539-1540 PER OR 7792 PG 4778 PER OR 8452 PG 2562
Building Details
Year built
1973
Number of units
40
Flooring type
Vinyl, Tile
Building materials
Block, Concrete
Listing Agency:
FlatFee.com
(954) 965-3990
Listed By:
Cliff Glansen · License #707077
(954) 965-3990
Added: Jul 24
Changed: Jul 31
Last Checked: Aug 2 at 10:06PM
MLS# 1228957
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.
Investment Insights
Based on property information with market context.
Four-building garden-style multifamily portfolio arranged across 3 parcels and 3 properties. The offering includes one- and two-bedroom apartments with 76 bedrooms and 40 baths, built in 1973 with block and concrete construction. Interior finishes feature vinyl and tile flooring, and parking is provided on an assigned basis.
Ownership has completed a comprehensive capital improvement program, including new monument signage, refreshed paint, updated soffits and gutters, and complete interior renovations across all unit configurations. The property totals 33,000 square feet on 0.75 acres.
Located off South Palmetto Avenue in South Daytona, the portfolio is within close proximity to the Halifax River corridor and provides close access to Riverfront Veterans Memorial Park’s boat ramps and other recreational amenities.
Ownership has completed a comprehensive capital improvement program, including new monument signage, refreshed paint, updated soffits and gutters, and complete interior renovations across all unit configurations. The property totals 33,000 square feet on 0.75 acres.
Located off South Palmetto Avenue in South Daytona, the portfolio is within close proximity to the Halifax River corridor and provides close access to Riverfront Veterans Memorial Park’s boat ramps and other recreational amenities.
Key Highlights
- Four‑building garden‑style multifamily portfolio across 3 parcels and 3 properties
- One- and two‑bedroom unit mix totaling 76 bedrooms and 40 baths
- 33,000 square feet on 0.75 acres
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 | $510.8k | $15.48 |
| − Vacancy | −$53.6k | −$1.63 |
| EGI | $457.2k | $13.85 |
| − OpEx | −$205.7k | −$6.23 |
| NOI | $251.5k | $7.62 |
33,000 SF · lease $15.48/SF/yr · vacancy 10.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.59M
$3.14M – $4.19M
NOI $251,461 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.73M
$8.51M – $11.35M
NOI $681,120 @ 7.0% cap · market cap 11.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
529
Businesses Nearby
Explore this area
Business Placement
Demographics for 32119, FL
22,498
Population
12,629
Households
1.8
Avg Household Size
50
Median Age
27%
College-Educated
91%
High-School Grad
7.8 sq mi
ZIP Area
2,884
Density / Sq Mi
$53,795
Median Household Income
$37,675
Median Earnings
$1,371
Median Rent
$215,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Garden-style apartment portfolio with one- and two-bedroom units and assigned parking, built in 1973 on 0.75 acres.
Where is this apartment building located?
The property is located at 1890 S Palmetto Avenue South Daytona, FL.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: Four‑building garden‑style multifamily portfolio across 3 parcels and 3 properties; One- and two‑bedroom unit mix totaling 76 bedrooms and 40 baths; 33,000 square feet on 0.75 acres
