467 Ridgewood AveHolly Hill, FL 32117

Property Details for 467 Ridgewood Ave

Year built

1954

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.26 AC

Property size (Sq ft)

1,732 SF

Zone code

B4

Property type

Hospitality properties

Property subtype

Motels

APN

5337-33-02-0010

APU

533733020010

Description

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.

Location Insight

City

Daytona Beach

County

Volusia

State

Florida

Latitude

29.2342

Longitude

-81.0349

CBSA code

19660

CBSA name

DELTONA-DAYTONA BEACH-ORMOND BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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