20 Grandview Ave Daytona Beach, FL 32118

Property Details for 20 Grandview Ave

Property type

Commercial real estate

Description

This exceptional 4-unit apartment building in Daytona Beach, Florida, presents a compelling value-add investment opportunity. Boasting a 9.09% cap rate and a strong $50,000 annual net operating income (NOI), this Class B property offers significant potential for increased profitability. Currently operating at 100% occupancy, the building is strategically located in the heart of the tourist district, just blocks from the beach, Halifax River, and a vibrant array of amenities. Its proximity to major employers, including Embry-Riddle Aeronautical University, Bethune-Cookman University, Daytona State College, Halifax Hospital System, NASCAR Headquarters, and Daytona Beach International Airport, ensures consistent tenant demand. The asking price is $550,000, representing a price per unit of $137,500. This prime location offers easy access to a convention center, water park, bandshell, boardwalk, restaurants, hotels, and the ONE Daytona Entertainment & Shopping District. The property's strong performance and strategic location make it an ideal investment for those seeking a high-return, low-risk opportunity in a thriving Florida market. This is a rare chance to acquire a well-positioned multifamily asset with immediate cash flow and significant upside potential. The property's current success, coupled with its proximity to major employment centers and tourist attractions, positions it for continued growth and strong returns. This is a turnkey investment ready for immediate income generation.