5080 S Ridgewood Ave Port Orange, FL 32127

This fully renovated 18-unit extended-stay property in Port Orange, Florida, offers a compelling investment opportunity. Located at 5080 S Ridgewood Ave, Port Orange, FL 32127, this multifamily building boasts a gross annual income of $336,000, translating to a weekly income of $6,275 per unit. The property features a 14.30% cap rate, indicating a strong return on investment. Comprehensive renovations include a new roof, electrical, mechanical, and plumbing systems, minimizing future maintenance concerns. An optional adjoining half-acre lot provides potential for expansion. The property was fully occupied as of January 31, 2023. This innovative investment alternative presents a robust cap rate solution within a thriving real estate market. The property's consistent income stream and strategic location in Port Orange make it an attractive option for investors seeking a secure and high-yielding asset. The combination of a fully renovated building, strong financial performance, and the potential for future development makes this a truly exceptional investment opportunity. Don't miss the chance to acquire this income-generating gem in the desirable Daytona Beach area.