600 Oakridge BlvdDaytona Beach, FL 32118

Property Details for 600 Oakridge Blvd

Year built

1952

Property size (Sq ft)

3,312 SF

Property type

Office properties

Property subtype

Land

Description

This exceptional investment opportunity presents a tastefully renovated six-unit multifamily property ideally situated in Daytona Beach's vibrant tourist district. The property, located at 600 Oakridge Boulevard, boasts a prime location approximately 400 feet from the beach and just two blocks from key attractions such as Ocean Walk, the Ocean Center, Daytona Band Shell, the beachside bus terminal, and Daytona Lagoon. The building, constructed of durable block, comprises six units: two one-bedroom, one-bathroom apartments and four studio apartments. All eight air conditioning and heating units are less than three years old, ensuring efficient and cost-effective operation. A convenient laundry facility is located in the maintenance room. The property sits on an 11,081.66 square foot lot and encompasses a total of 3,312 square feet of living space, spread across a single story. Built in 1952, this property offers a strong track record with a pro-forma Net Operating Income (NOI) of $86,800, resulting in a 6.94% capitalization rate. Current unit rents are $1,695 for the one-bedroom units and range from $1,500 to $1,600 for the studio units. This presents a compelling opportunity for investors seeking a high-yield, well-located property in a thriving market. The property is zoned for multifamily, office, and residential use.

Location Insight

City

Daytona Beach

County

Volusia

State

Florida

Latitude

29.2335

Longitude

-81.0123

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