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404 Ridgewood AveDaytona Beach, FL 32114

Historic Victorian, 26 Units, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity in Daytona Beach, Florida, presents a portfolio of two properties totaling 26 units. The centerpiece is a meticulously restored Victorian home, listed on the U.S. National Register of Historic Places. This 8,000 square foot landmark boasts 11 bedrooms and 5 bathrooms, complemented by two additional basement apartments. Adjacent to the Victorian is a fully renovated co-living house featuring 13 bedrooms and 4 bathrooms. Both properties underwent comprehensive renovations in 2023, incorporating hotel-level interior design. Currently utilized as residential rentals, the properties are situated on a combined 1.48 acres and benefit from T-2 zoning, allowing for a wide range of future uses. The properties are strategically located in the heart of downtown Daytona Beach, just minutes from the beach, Daytona International Airport, Daytona International Speedway, and Bethune-Cookman University. The Victorian and co-living house are currently leased through a platform that facilitates weekly rentals, maximizing occupancy and cash flow. This portfolio offers a unique blend of historic charm, modern amenities, and significant upside potential in a rapidly growing market. The property consists of two buildings, three stories each, with a total of 15,000 square feet of net rentable space. The properties are situated on two parcels with APNs 5339-01-17-0062 and 5339-01-17-0060. Built in 1896 and extensively renovated in 2023, this portfolio represents a rare opportunity to acquire a high-performing asset in a prime location.

Highlights

  • Historic Victorian home (8,000 SF, 11 bedrooms, 5 baths) and adjacent co-living house (13 bedrooms, 4 baths) on a 1.48-acre lot, listed on the National Register of Historic Places.
  • Victorian includes 2 additional basement apartments.
  • Co-living house uses the PadSplit platform for weekly rentals.
  • Both properties are currently residential rentals on T-2 zoned lots, offering diverse redevelopment potential.
  • Extensive renovations completed in 2023 with hotel-level interior design.
  • Prime downtown Daytona Beach location, minutes from the beach, Daytona International Airport, Daytona International Speedway, and Bethune-Cookman University.

Property Details for 404 Ridgewood Ave

Property type
Apartment buildings
Square Feet
15,000 SF
Class
C
Year Built/Renovated
1896/2023
Buildings
2
Stories
3
Lot Size (sq. ft)
64,469 SF
Units
26

Location Insight

City
Daytona Beach
County
Volusia
State
Florida
Latitude
29.2047163
Longitude
-81.0200427
404 Ridgewood Ave, Daytona Beach, Florida

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404 Ridgewood Ave
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