Triplex with Updated
For Sale
$335,000
Pending
5010 S RIDGEWOOD AVENUE, Port Orange, FL 32127
Fully occupied triplex with varied unit layouts, refreshed major components, and zoning that permits expansion to additional units.
Property Size1,542 SF
Days on Market497
Property Features for 5010 S RIDGEWOOD AVENUE
General Information
Standard status
Pending
Size
1,542 SF
Property subtype
Multi Family
Occupancy
100%
Units
Unit Mix
1 x 2BR/1BA, 1 x studio, 1 x 1BR/1BA
Multifamily Units
3
Additional Details
Gross Income
$38,400
Taxes and HOA fees
Annual Taxes
$4,509
Building Details
Year Built
1946
Buildings
2
Listing Agency:
KELLER WILLIAMS RLTY FL. PARTN
(386) 944-2800
Listed By:
Brannon Owens · License #3392574
(386) 281-9310
Source:
Exitrealty
Added: Jun 6, 2025
Changed: Oct 7
Last Checked: Oct 14 at 10:30PM
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 KELLER WILLIAMS RLTY FL. PARTN
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Investment Insights
Based on property information with market context.
This 1,542-square-foot triplex, built in 1946, includes three distinct residences. The property offers a 2-bedroom, 1-bath cottage with a new HVAC system, a studio with separate kitchen and living areas, and a 1-bedroom, 1-bath residence with an expansive kitchen and living room. Both buildings have newly installed roofs.
Located at 5010 S Ridgewood Avenue in Port Orange, the property is near the Intracoastal Waterway, beaches, shopping, dining, and parks. It is also within the Port Orange school district. Zoning allows up to 10 units, providing a documented path for additional residential capacity beyond the existing triplex configuration.
Located at 5010 S Ridgewood Avenue in Port Orange, the property is near the Intracoastal Waterway, beaches, shopping, dining, and parks. It is also within the Port Orange school district. Zoning allows up to 10 units, providing a documented path for additional residential capacity beyond the existing triplex configuration.
Key Highlights
- Three‑unit property with a 2‑bedroom cottage, studio, and 1‑bedroom residence
- 1,542 square feet on a property built in 1946
- 2‑bedroom, 1‑bath cottage includes a new HVAC system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,527
Cap Rate
4.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$270,540
$270.5K
Cap Rate 7%
$193,243
$193.2K
Cap Rate 9%
$150,300
$150.3K
Market Conditions
NOI Build-Up for 1,542 SF
Gross rent
$21.5K $13.92/SF
− Vacancy
−$2.1K −$1.39/SF
EGI
$19.3K $12.53/SF
− OpEx
−$5.8K −$3.76/SF
NOI
$13.5K $8.77/SF
Area
Volusia County, FL
Vacancy
9.97%
Lease Rate
$13.92 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$270,540
Cap Rate 7%
$193,243
Cap Rate 9%
$150,300
Alternative Uses
Best Use
Multifamily LT 5
$193.2K
$169.1K – $225.5K
NOI $13,527 @ 7.0% cap · market cap 4.04%
Second Best
Apartment 5plus
$167.9K
$146.9K – $195.8K
NOI $11,750 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$454.7K
$397.8K – $530.5K
NOI $31,827 @ 7.0% cap · market cap 9.50%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
527
Businesses Nearby
Explore this area
Business Placement
Demographics for 32127, FL
29,999
Population
15,898
Households
1.9
Avg Household Size
53
Median Age
30%
College-Educated
94%
High-School Grad
14.9 sq mi
ZIP Area
2,013
Density / Sq Mi
$65,260
Median Household Income
$39,196
Median Earnings
$1,324
Median Rent
$301,800
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?
Triplex - Fully occupied triplex with varied unit layouts, refreshed major components, and zoning that permits expansion to additional units.
Where is this triplex located?
The property is located at 5010 S RIDGEWOOD AVENUE Port Orange, FL.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Three‑unit property with a 2‑bedroom cottage, studio, and 1‑bedroom residence; 1,542 square feet on a property built in 1946; 2‑bedroom, 1‑bath cottage includes a new HVAC system
