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Property profile

404 S Ridgewood Ave Daytona Beach, FL 32114

Investment properties
Property ID
US18-0576486
View Sample
7,348 SF 0.87 ac lot Built 1901
Entity Owned 4-yr Hold Free & Clear

Property summary

AI-generated overview

This exceptional investment opportunity in Daytona Beach, Florida, presents a portfolio of two properties totaling 26 units. The centerpiece is a meticulously restored Victorian home, listed on the U.S. National Register of Historic Places. This 8,000 square foot landmark boasts 11 bedrooms and 5 bathrooms, complemented by two additional basement apartments. Adjacent to the Victorian is a fully renovated co-living house featuring 13 bedrooms and 4 bathrooms. Both properties underwent comprehensive renovations in 2023, incorporating hotel-level interior design. Currently utilized as residential rentals, the properties are situated on a combined 1.48 acres and benefit from T-2 zoning, allowing for a wide range of future uses. The properties are strategically located in the heart of downtown Daytona Beach, just minutes from the beach, Daytona International Airport, Daytona International Speedway, and Bethune-Cookman University. The Victorian and co-living house are currently leased through a platform that facilitates weekly rentals, maximizing occupancy and cash flow. This portfolio offers a unique blend of historic charm, modern amenities, and significant upside potential in a rapidly growing market. The property consists of two buildings, three stories each, with a total of 15,000 square feet of net rentable space. The properties are situated on two parcels with APNs 5339-01-17-0062 and 5339-01-17-0060. Built in 1896 and extensively renovated in 2023, this portfolio represents a rare opportunity to acquire a high-performing asset in a prime location.

Property profile

Verified
Property type Investment properties
Use group STORE/OFFICE (MIXED USE)
Year built 1901
Construction WOOD
Total area 7,348 SF
Lot 0.87 ac (37,865 SF)
Zoning code T2
APN 5339-01-17-0062
UPID US18-0576486

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$860k
CAP Approach CAP
by Request
Comparable Approach Comparable
$596k
Blend (final) Blend
$825k

Owner & transaction history

since 2022
Last sale
$900,000
5 recorded transactions
2022
$900,000
2022
$50,000
2017
Price N/A
2011
$195,000
2011
Price N/A

Zoning & alternative use

T2 · Daytona Beach, FL
Top alternative use upside
Medical building $1.4M +55.2%
Retail stores $1.1M +17.5%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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