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    509 Ridgewood Ave Daytona Beach, FL 32114

    Sponsored
    For Sale
    $995,000

    7-unit apartment building, 100% occupancy.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a stabilized, 7-unit apartment building located at 509 N Ridgewood Ave, Daytona Beach, FL 32114. Priced at $995,000, this property boasts a pro-forma cap rate of 11.59% and a 100% occupancy rate, generating significant rental income. Each unit offers a compelling value proposition at $142,143 per unit. The property's prime location in Daytona Beach provides easy access to major attractions, highways, and the city's vibrant lifestyle. This multifamily investment is ideal for those seeking a blend of residential and potential commercial opportunities. The strong rental demand in Daytona Beach, fueled by tourism and a growing local population, ensures a reliable stream of income and potential for future value appreciation. The property benefits from a favorable tax environment in Florida, including no state income tax. This is a turnkey investment, ready for immediate income generation, offering a diverse portfolio opportunity in a thriving market. The property's central location in Daytona Beach offers proximity to the beach, major highways, and popular attractions, further enhancing its investment appeal. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a dynamic market.

    Property Features for 509 Ridgewood Ave

    General Information

    Property type
    Multifamily properties

    Building Details

    Units
    7

    HighLights

    • Prime Daytona Beach location near beaches, highways, and attractions.
    • High tourist traffic due to beaches, Daytona International Speedway, and entertainment venues.
    • Stable job market driven by tourism, healthcare, and education.
    • Proximity to Daytona State College.
    • Vibrant arts and culture scene.
    • One hour from Orlando.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Daytona Beach
    County
    Volusia
    State
    Florida
    Longitude
    -81.0273512
    Latitude
    29.2199649

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    FAQs

    What type of property is this?
    Multifamily property - 7-unit apartment building, 100% occupancy.
    Where is this multifamily property located?
    The property is located at 509 Ridgewood Ave Daytona Beach, FL.
    What is the asking price?
    The asking price for this property is $995,000.
    What are key features of this property?
    This property features: Prime Daytona Beach location near beaches, highways, and attractions.; High tourist traffic due to beaches, Daytona International Speedway, and entertainment venues.; Stable job market driven by tourism, healthcare, and education.
    Request Owner's contact information
    509 Ridgewood Ave Daytona Beach, FL 32114
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    509 Ridgewood Ave Daytona Beach, FL 32114
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