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5080 Ridgewood AvePort Orange, FL 32127

Port Orange, FL Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
116
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.

Highlights

  • Fully renovated 18-unit extended-stay property in Port Orange, FL.
  • $336,000 gross annual income; $6,275 weekly per unit.
  • 14.30% cap rate.
  • New roof, electrical, mechanical, and plumbing systems.
  • Optional adjoining half-acre lot.

Property Details for 5080 Ridgewood Ave

Property type
Apartment buildings
Units
18

Location Insight

City
Port Orange
County
Volusia
State
Florida
Latitude
29.1300149
Longitude
-80.9817995
5080 Ridgewood Ave, Port Orange, Florida

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5080 Ridgewood Ave
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