Current Use by Public Records
- Apartment buildings
Property Details for 509 Ridgewood Ave
- Property type
- Apartment buildings
Description
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.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Daytona Beach
- County
- Volusia
- State
- Florida
- Longitude
- -81.0274
- Latitude
- 29.22
