For Sale
$569,000

0 Harvey AveDaytona Beach, FL 32118

4-Unit Apartment Building, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional 4-unit apartment building presents a compelling investment opportunity in the vibrant Daytona Beach, Florida market. Located on Harvey Avenue, this property boasts a prime location just minutes from the beach and a short distance from Daytona International Speedway, Volusia Mall, and the Daytona Beach Boardwalk. Each unit features a spacious 1-bedroom, 1-bathroom layout spanning approximately 400 square feet, complete with air conditioning, hardwood and tile floors, walk-in closets, and select units offering balcony access. Modern conveniences such as cable readiness and high-speed internet availability are also included. The property currently enjoys 100% occupancy, generating a substantial net operating income (NOI) of $60,000, resulting in a current cap rate of 10.54% and a pro-forma cap rate of 13%. Water utilities are included in the rent, simplifying management and enhancing tenant appeal. The property's proximity to Embry-Riddle Aeronautical University, Daytona State College, and Bethune-Cookman University ensures a consistent pool of potential tenants. Daytona Beach's thriving tourism industry, coupled with its numerous annual events, contributes to strong rental demand and low vacancy risk. This multifamily investment offers significant potential for both immediate cash flow and long-term appreciation, making it an ideal addition to any investor's portfolio. The property's attractive features, combined with its strategic location and strong rental market, position it for continued success. The asking price is $569,000.

Highlights

  • Prime Daytona Beach location minutes from the beach, Daytona International Speedway, Volusia Mall, and the Daytona Beach Boardwalk.
  • High demand rental market due to proximity to Embry-Riddle Aeronautical University, Daytona State College, and Bethune-Cookman University, plus strong tourism.
  • Currently 100% occupied, offering immediate income potential and significant rental growth potential.
  • Low vacancy risk due to convenient location and amenities.
  • Attractive units feature A/C, hardwood/tile floors, walk-in closets, and some with balconies; cable-ready and high-speed internet access.
  • Value-add potential through upgrades or conversion to short-term rentals.

Property Details for 0 Harvey Ave

Property type
Apartment buildings

Location Insight

City
Daytona Beach
County
Volusia
State
Florida
Latitude
29.2242994
Longitude
-81.0096799
Harvey Ave, Daytona Beach, Florida

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
0 Harvey Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message