Daytona Beach Multifamily Investment
For Sale
$699,000
602 Braddock Avenue, Daytona Beach, FL 32118
MULTI_FAMILY - Daytona Beach, FL
Property Size3,010 SF
Lot Size0.18 Acres
Price / SF$232.23
Days on Market180
Property Features for 602 Braddock Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 7, Bedroom 4, Bedroom 3, Bedroom 8, Bathroom 3, Bathroom 4, Bedroom 1, Bathroom 1, Bedroom 5, Bedroom 2, Bedroom 6, Bathroom 2
Parking features
Carport
Appliances
Washer/Dryer Stacked
Subdivision
Braddock Park
Lot features
Cleared
Standard status
Active
APN
5309-18-00-0370
Size
3,010 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 37 BRADDOCK PARK DAYTONA BCH & INC N 35 FT OF LOT 12 BLK A SCHNEES REPLAT ATLANTIC CITY MB 5 PG 183 MB 9 PG 25 PER OR 5272 PGS 3173-3174 PER OR 5395 PG 4693 PER OR 5684 PG 4671 PER OR 6365 PGS 0846-0848 INC PER OR 6429 PG 1615 PER OR 6435 PG 1174 PER
Tax Annual Amount
10475
Legal Description
LOT 37 BRADDOCK PARK DAYTONA BCH & INC N 35 FT OF LOT 12 BLK A SCHNEES REPLAT ATLANTIC CITY MB 5 PG 183 MB 9 PG 25 PER OR 5272 PGS 3173-3174 PER OR 5395 PG 4693 PER OR 5684 PG 4671 PER OR 6365 PGS 0846-0848 INC PER OR 6429 PG 1615 PER OR 6435 PG 1174 PER
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating)
Building Details
Year built
1952
Floors in Building
2
Number of units
4
Building materials
Frame, Vinyl Siding
Roof type
Shingle
Listing Agency:
The Agency FL
(407) 951-2472
Listed By:
Brian Hyser · License #3406447
(407) 951-2472
Added: Feb 16
Changed: Jul 24
Last Checked: Aug 15 at 6:06AM
MLS# 1223067
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.
Located half a block from the ocean and steps from Sun Splash Park beach access, this four-unit property offers a prime location and income potential. The property at 602 & 604 Braddock Avenue includes two duplexes on one lot with a four-car carport. Each building features an upstairs and downstairs two-bedroom, one-bathroom unit in move-in-ready condition. The rear duplex was fully permitted and extensively renovated within the past 7 years. Updates include partial plumbing replacement in 2022, with a back porch rebuild. The property has been fully inspected, approved, and licensed for multi-family rental by the City of Daytona Beach. The property size is 3010 square feet on a lot of 0.18 acres. Projected rents are $1,600 per unit for both the rear and front units, totaling $6,400 per month. This property represents a turnkey beachside investment opportunity.
Key Highlights
- 4‑unit property with two duplexes (602 & 604 Braddock) on one lot, with upstairs and downstairs 2BR/1BA units
- Rear (yellow) duplex was fully permitted and extensively renovated within the past 7 years
- Renovation includes partial plumbing replacement in 2022 and a back porch rebuild at 604
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,405
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.78%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$528,100
$528.1K
Cap Rate 7%
$377,214
$377.2K
Cap Rate 9%
$293,389
$293.4K
Market Conditions
NOI Build-Up for 3,010 SF
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.
Gross rent
$41.9K $13.92/SF
− Vacancy
−$4.2K −$1.39/SF
EGI
$37.7K $12.53/SF
− OpEx
−$11.3K −$3.76/SF
NOI
$26.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$528,100
Cap Rate 7%
$377,214
Cap Rate 9%
$293,389
Alternative Uses
Best Use
Multifamily LT 5
$377.2K
$330.1K – $440.1K
NOI $26,405 @ 7.0% cap · market cap 3.78%
Second Best
Apartment 5plus
$327.7K
$286.7K – $382.3K
NOI $22,936 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$887.5K
$776.6K – $1.04M
NOI $62,126 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
692
Businesses Nearby
Explore this area
Business Placement
Demographics for 32118, FL
17,906
Population
16,390
Households
1.1
Avg Household Size
58
Median Age
31%
College-Educated
94%
High-School Grad
4.2 sq mi
ZIP Area
4,263
Density / Sq Mi
$60,418
Median Household Income
$36,153
Median Earnings
$1,283
Median Rent
$339,500
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?
Quadplex - Rare four-unit property near the ocean with income potential.
Where is this quadplex located?
The property is located at 602 Braddock Avenue Daytona Beach, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 4‑unit property with two duplexes (602 & 604 Braddock) on one lot, with upstairs and downstairs 2BR/1BA units; Rear (yellow) duplex was fully permitted and extensively renovated within the past 7 years; Renovation includes partial plumbing replacement in 2022 and a back porch rebuild at 604
