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819 Ridgewood Ave Daytona Beach, FL 32114

Sponsored
For Sale
$1,100,000

9-Unit Apartment Building, High NOI

Description

Added:
Dec 11, 2024
Days on Market:
391
This exceptional investment opportunity presents a 9-unit apartment building located at 819 N Ridgewood Ave, Daytona Beach, FL 32114, in Volusia County. The property boasts a strong 100% occupancy rate, generating a substantial Net Operating Income (NOI) of $130,000, resulting in an attractive 11.82% cap rate. Priced at $1,100,000, this Class C multifamily property offers a price per unit of $122,222.22. The building is currently operating as a rental income property, making it an ideal owner/user investment. The property's location in Daytona Beach offers access to a thriving tourism industry, a growing population, and a business-friendly environment. Daytona Beach's diversified economy and strong transportation infrastructure further enhance its investment appeal. The property's zoning allows for a multitude of retail and automotive uses, presenting additional development potential. This is a rare opportunity to acquire a well-performing multifamily asset in a dynamic Florida market. The property consists of a two-story commercial building and a 9-unit apartment building, all currently generating income. This is a turnkey investment ready for immediate cash flow.

Property Features for 819 Ridgewood Ave

General Information

Property type
Multifamily properties
Class
C

Building Details

Units
9

HighLights

  • Daytona Beach's robust tourism industry, fueled by its beaches and events like the Daytona 500, offers strong hospitality investment potential.
  • A growing population in the Greater Daytona Beach area fuels demand for businesses and real estate.
  • Florida's low taxes and pro‑business environment create an attractive investment climate.
  • Daytona Beach boasts a diversified economy encompassing tourism, healthcare, education, and manufacturing, mitigating economic risk.
  • Excellent transportation access via I‑95 and Daytona Beach International Airport enhances logistical advantages.
Property Profile Location Intelligence

Current Use by Public Records

Fast Tax Tax Preparation

Suggested Use

Realty agency Law Firm Restaurant Spa & Massage Dental Office 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
-81.0304576
Latitude
29.2258468

FAQs

What type of property is this?
Multifamily property - 9-Unit Apartment Building, High NOI
Where is this multifamily property located?
The property is located at 819 Ridgewood Ave Daytona Beach, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Daytona Beach's robust tourism industry, fueled by its beaches and events like the Daytona 500, offers strong hospitality investment potential.; A growing population in the Greater Daytona Beach area fuels demand for businesses and real estate.; Florida's low taxes and pro-business environment create an attractive investment climate.
More about this property
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