For Sale
$2,590,000

2525 Oleander AveDaytona Beach, FL 32118

14-Unit Apartment Building, Beachfront Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 14-unit apartment building, located at 2525 N Oleander Ave, Daytona Beach, FL 32118, presents a compelling investment opportunity. Built in 1969 and extensively renovated in 2019, this Class B property boasts 1,020 square feet and sits on a 14,188 square foot lot. The building features 16 parking spaces and is zoned MFR-40. All 14 units are two-bedroom apartments, equipped with updated kitchens featuring granite countertops, updated bathrooms, premium tile flooring, and new windows, doors, stucco, appliances, and HVAC systems. Recent improvements also include a new roof (2021) and separate water meters for each unit, significantly reducing owner expenses. Current lease renewals are at $1,650 and $1,500 per unit. Tenants are responsible for their own electricity and water. This property enjoys a prime location, just one block from the beach and within walking distance of restaurants and a Publix shopping center. The asking price is $2,590,000, representing a price per unit of $185,000 and a 7.50% cap rate. A package sale including a neighboring building is also available for $5,320,000. The seller will consider selling either building individually or as a package. All information is deemed reliable but not guaranteed

Highlights

  • 14-unit apartment building at 2525 N Oleander Ave, Daytona Beach, FL.
  • 1969 construction, extensively renovated in 2019, Class B property.
  • 1,020 sq ft building on a 14,188 sq ft lot with 16 parking spaces, MFR-40 zoning.
  • All 14 units are two-bedroom apartments with updated kitchens, bathrooms, flooring, windows, doors, stucco, appliances, and HVAC.
  • New roof (2021) and individual water meters.
  • Current rents average $1,575 per unit.

Property Details for 2525 Oleander Ave

Property type
Apartment buildings
Square Feet
1,020 SF
Class
B
Year Built/Renovated
1969/2019
Buildings
1
Stories
2
Units
14

Location Insight

City
Daytona Beach
County
Volusia
State
Florida
Latitude
29.2620603
Longitude
-81.0294607
2525 Oleander Ave, Daytona Beach, Florida

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2525 Oleander Ave
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