Daytona Beach Multifamily
For Sale
$899,000
601 STATE Ave, Daytona Beach, FL 32117
8-unit multifamily property in Daytona Beach with upside potential.
Property Size5,194 SF
Lot Size0.14 Acres
Price / SF$173.08
Days on Market222
Property Features for 601 STATE Ave
General Information
Standard status
Active
Size
5,194 SF
Lot size
0.14 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$9,158
Building Details
Building Size
5,194 SF
Year Built
1973
Units
8
Listing Agency:
Lawhun Enterprises, LLC
Listed By:
Tito Urbano Perez · License #3470017
(407) 907-0350
Source:
Elliman
Added: Mar 10
Changed: Oct 3
Last Checked: Oct 16 at 10:08AM
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 Lawhun Enterprises, LLC
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Investment Insights
Based on property information with market context.
Crosscreek Apartments, constructed in 1973, is an 8-unit multifamily property located in Daytona Beach, Florida. The property encompasses 5,194 square feet on a 0.14-acre lot. The unit mix features three 2-bedroom/1-bath units and five 1-bedroom/1-bath units. Each unit includes central air conditioning and separately metered electric. The landlord is responsible for city water, sewer, and trash services. Constructed with block exterior walls on slab foundations, the property offers long-term durability. Situated in Daytona Beach, the property benefits from proximity to major thoroughfares, employment centers, and coastal amenities. This property presents a value-add opportunity for investors through potential rental increases.
Key Highlights
- Turnkey 8‑unit multifamily investment property.
- Immediate upside potential through rental increases.
- Desirable Daytona Beach location near major thoroughfares, employment centers, and coastal amenities.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,578
Cap Rate
4.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$791,560
$791.6K
Cap Rate 7%
$565,400
$565.4K
Cap Rate 9%
$439,756
$439.8K
Market Conditions
NOI Build-Up for 5,194 SF
Gross rent
$80.4K $15.48/SF
− Vacancy
−$8.4K −$1.63/SF
EGI
$72.0K $13.85/SF
− OpEx
−$32.4K −$6.23/SF
NOI
$39.6K $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%
$791,560
Cap Rate 7%
$565,400
Cap Rate 9%
$439,756
Alternative Uses
Best Use
Apartment 5plus
$565.4K
$494.7K – $659.6K
NOI $39,578 @ 7.0% cap · market cap 4.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,204 @ 7.0% cap · market cap 11.92%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
810
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
Frequently Asked Questions
What type of property is this?
Apartment building - 8-unit multifamily property in Daytona Beach with upside potential.
Where is this apartment building located?
The property is located at 601 STATE Ave Daytona Beach, FL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Turnkey 8‑unit multifamily investment property.; Immediate upside potential through rental increases.; Desirable Daytona Beach location near major thoroughfares, employment centers, and coastal amenities.
