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    467 Ridgewood Ave Holly Hill, FL 32117

    Sponsored
    For Sale
    $1,050,000

    12-Unit Apartment Building, High ROI

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This fully rented 12-unit apartment building presents a compelling value-add investment opportunity in Holly Hill, Florida. Located in the desirable Oak Ridge Park subdivision at 467 Ridgewood Ave, Daytona Beach, FL 32117, this property boasts a total of 2,832 square feet on a generous 11,250 square foot lot. Built in 1954, the building features durable concrete block and siding construction, minimizing maintenance needs. Each of the 12 efficiency units is equipped with wall/window air conditioning units and essential appliances (ranges and refrigerators). Ample parking is available with 15 spaces, a mix of off-street and parking lot options. The property is currently generating income as weekly rentals, providing a strong rental history and immediate cash flow. Zoned "MOTEL/HOTEL," this versatile property offers significant upside potential for future development or alternative uses within the thriving hospitality sector. The asking price is $1,050,000, representing $87,500 per unit. The property benefits from its convenient location near Daytona Beach, with easy access to Ridgewood Avenue and major transportation routes. Nearby amenities include various dining, shopping, and entertainment options. Public sewer and city water services are readily available. The seller is open to financing with a 50% down payment and a 7% interest rate for a two-year term. This is a rare opportunity to acquire a well-located, income-producing multifamily property with significant potential for appreciation.

    Property Features for 467 Ridgewood Ave

    General Information

    Property type
    Multifamily properties
    Class
    C

    Building Details

    Units
    12

    HighLights

    • Fully rented 12‑unit apartment building in Daytona Beach, FL.
    • 2,832 sq ft building on an 11,250 sq ft lot, built in 1954.
    • 12 efficiency units with appliances, 15 parking spaces, and concrete block construction.
    • Generating income from weekly rentals, strong rental history, and zoned Motel/Hotel.
    • Asking price: $1,050,000 ($87,500 per unit); seller financing available (50% down, 7% interest, 2‑year term).
    Property Profile Location Intelligence

    Current Use by Public Records

    Fat Stacks Tint ... Window Tinting Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Holly Hill
    County
    Volusia
    State
    Florida
    Longitude
    -81.0350315
    Latitude
    29.2341235

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    FAQs

    What type of property is this?
    Multifamily property - 12-Unit Apartment Building, High ROI
    Where is this multifamily property located?
    The property is located at 467 Ridgewood Ave Holly Hill, FL.
    What is the asking price?
    The asking price for this property is $1,050,000.
    What are key features of this property?
    This property features: Fully rented 12-unit apartment building in Daytona Beach, FL.; 2,832 sq ft building on an 11,250 sq ft lot, built in 1954.; 12 efficiency units with appliances, 15 parking spaces, and concrete block construction.
    Request Owner's contact information
    467 Ridgewood Ave Holly Hill, FL 32117
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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
    467 Ridgewood Ave Holly Hill, FL 32117
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