For Sale
$650,000

406 Oak StPort Orange, FL 32127

Beachfront triplex with strong ROI.

Overview

Added:
Dec 11, 2024
Days on market:
116
Exceptional investment opportunity awaits with this meticulously renovated three-unit apartment building located at 406 Oak St, Port Orange, FL 32127. This 1-story, concrete block triplex boasts 1,785 square feet of net rentable space situated on an 8,750 square foot lot. Built in 1972 and extensively renovated between 2021 and 2022, the property features updated kitchens and bathrooms, new flooring, electrical and plumbing systems, and central A/C units in each unit. Individual water and electric meters minimize owner expenses. Currently enjoying 100% occupancy, this property generates a substantial net operating income (NOI) of $43,773, resulting in a compelling 6.73% capitalization rate. Its prime location, less than two miles from the beach, four blocks from the river, and four blocks from Dunlawton Avenue (Port Orange's main thoroughfare), ensures consistent high demand and rental income. The property is zoned for short-term rentals, further enhancing its investment potential. Each unit benefits from a private backyard enclosed by a new 6-foot vinyl fence. This turnkey investment is tenant-occupied

Highlights

  • Meticulously renovated three-unit triplex in Port Orange, FL.
  • 1,785 square feet of net rentable space on an 8,750 square foot lot.
  • Extensive renovations completed 2021-2022, including updated kitchens, bathrooms, flooring, and systems.
  • 100% occupancy with a $43,773 NOI and 6.73% cap rate.
  • Prime location near beach, river, and Dunlawton Avenue, zoned for short-term rentals.
  • Each unit features a private backyard and individual utilities.

Property Details for 406 Oak St

Property type
Apartment buildings
Square Feet
1,785 SF
Class
B
Year Built/Renovated
1972/2021
Buildings
1
Stories
1
Units
3

Location Insight

City
Port Orange
County
Volusia
State
Florida
Latitude
29.1376723
Longitude
-80.9883808
406 Oak St, Port Orange, Florida

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406 Oak St
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