6-Unit Townhouse Apartment
For Sale
$960,000
644 Northern Rd, South Daytona, FL 32119
All units carry annual leases, with residents responsible for their own utility costs.
Property Size8,016 SF
Price / SF$119.76
Days on Market59
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Property Features for 644 Northern Rd
General Information
Standard status
Active
Size
8,016 SF
Occupancy
100%
Units
Unit Mix
6 x 2BR
Multifamily Units
6
Additional Details
Cap Rate
7.5%
Building Details
Year Built
1981
Listing Agency:
REALTY PROS ASSURED
Listed By:
Matt Renshaw · License #692145
(386) 566-1233
Source:
Chenoregroup
Added: Aug 18
Changed: Oct 7
Last Checked: Oct 7 at 12:54PM
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 REALTY PROS ASSURED
Investment Insights
Based on property information with market context.
This 8,016-square-foot multifamily property contains six two-bedroom, townhouse-style apartments. Constructed in 1981, the complex is fully leased on annual agreements, with some tenants occupying their units for extended periods. Residents pay their own utilities, keeping owner-paid operating obligations limited. The property has an approximate 7.5 cap rate.
Located at 644 Northern Rd in South Daytona, the complex is within a short drive of the beach and near schools, shopping, restaurants, medical services, and golf courses. Its residential layout, established tenancy, and six-unit configuration provide a straightforward multifamily asset in an established Florida setting.
Located at 644 Northern Rd in South Daytona, the complex is within a short drive of the beach and near schools, shopping, restaurants, medical services, and golf courses. Its residential layout, established tenancy, and six-unit configuration provide a straightforward multifamily asset in an established Florida setting.
Key Highlights
- Six two‑bedroom townhouse‑style apartments
- 8,016 square feet across the multifamily complex
- Fully rented on annual leases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,082
Cap Rate
6.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,221,640
$1.2M
Cap Rate 7%
$872,600
$872.6K
Cap Rate 9%
$678,689
$678.7K
Market Conditions
NOI Build-Up for 8,016 SF
Gross rent
$124.1K $15.48/SF
− Vacancy
−$13.0K −$1.63/SF
EGI
$111.1K $13.85/SF
− OpEx
−$50.0K −$6.23/SF
NOI
$61.1K $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%
$1,221,640
Cap Rate 7%
$872,600
Cap Rate 9%
$678,689
Alternative Uses
Best Use
Apartment 5plus
$872.6K
$763.5K – $1.02M
NOI $61,082 @ 7.0% cap · market cap 6.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.36M
$2.07M – $2.76M
NOI $165,450 @ 7.0% cap · market cap 17.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
844
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
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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 - All units carry annual leases, with residents responsible for their own utility costs.
Where is this apartment building located?
The property is located at 644 Northern Rd South Daytona, FL.
What is the asking price?
The asking price for this property is $960,000.
What are key features of this property?
This property features: Six two‑bedroom townhouse‑style apartments; 8,016 square feet across the multifamily complex; Fully rented on annual leases
