Renovated Townhouse-Style Apartment
For Sale
Contact for pricing
2322 South Palmetto Avenue, South Daytona, FL 32119
Three-building community offers two-story residences with private entries, patios or backyard areas, and in-unit laundry.
Property Size14,400 SF
Price / SF$194.44
Days on Market151
Property Features for 2322 South Palmetto Avenue
General Information
Standard status
Active
Size
14,400 SF
Class
B
Property subtype
Retail, Multifamily, Hospitality
Investment Type
Stabilized
Net Operating Income
$196,907
Units
Unit Mix
15 x 2BR/1.5BA
Multifamily Units
15
Amenities
in-unit washer and dryer
private patios or backyard space
private entrances
Building Details
Year Built
1970
Year Renovated
1995
Buildings
3
Stories
2
Units
15
Tenancy
Multi
Construction
townhouse-style
Listing Agency:
The Apartment Brokers
Listed By:
Tito Urbano · License #SL3470017
Source:
Crexi
Added: May 20
Changed: Oct 14
Last Checked: Oct 16 at 8:14AM
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 The Apartment Brokers
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Investment Insights
Based on property information with market context.
The property includes 15 townhouse-style apartment units arranged across three buildings, with five units in each building. Every residence offers a two-bedroom, one-and-a-half-bath layout, a private entrance, and a two-story floor plan. Interior improvements include updated kitchens, flooring, fixtures, and finishes, while private patios or backyard areas extend the living space. In-unit washers and dryers are also provided.
Constructed in 1970, the 14,400-square-foot community is located at 2322 South Palmetto Avenue in South Daytona, Florida. The unit configuration combines large living areas with functional layouts suited to long-term residential occupancy.
Constructed in 1970, the 14,400-square-foot community is located at 2322 South Palmetto Avenue in South Daytona, Florida. The unit configuration combines large living areas with functional layouts suited to long-term residential occupancy.
Key Highlights
- 15‑unit townhouse‑style apartment community
- Three buildings with five units each
- Two‑bedroom, 1.5‑bath townhouse layouts
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$109,728
Cap Rate
3.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,194,560
$2.2M
Cap Rate 7%
$1,567,543
$1.6M
Cap Rate 9%
$1,219,200
$1.2M
Market Conditions
NOI Build-Up for 14,400 SF
Gross rent
$222.9K $15.48/SF
− Vacancy
−$23.4K −$1.63/SF
EGI
$199.5K $13.85/SF
− OpEx
−$89.8K −$6.23/SF
NOI
$109.7K $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%
$2,194,560
Cap Rate 7%
$1,567,543
Cap Rate 9%
$1,219,200
Alternative Uses
Best Use
Apartment 5plus
$1.57M
$1.37M – $1.83M
NOI $109,728 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.25M
$3.72M – $4.95M
NOI $297,216 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
15
Residential units
Location Intelligence
Trade Area within ½ mile
536
Businesses Nearby
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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
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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 - Three-building community offers two-story residences with private entries, patios or backyard areas, and in-unit laundry.
Where is this apartment building located?
The property is located at 2322 South Palmetto Avenue South Daytona, FL.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 15‑unit townhouse‑style apartment community; Three buildings with five units each; Two‑bedroom, 1.5‑bath townhouse layouts
