819 Ridgewood AveDaytona Beach, FL 32114

Property Details for 819 Ridgewood Ave

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a 9-unit apartment building located at 819 N Ridgewood Ave, Daytona Beach, FL 32114, in Volusia County. The property boasts a strong 100% occupancy rate, generating a substantial Net Operating Income (NOI) of $130,000, resulting in an attractive 11.82% cap rate. Priced at $1,100,000, this Class C multifamily property offers a price per unit of $122,222.22. The building is currently operating as a rental income property, making it an ideal owner/user investment. The property's location in Daytona Beach offers access to a thriving tourism industry, a growing population, and a business-friendly environment. Daytona Beach's diversified economy and strong transportation infrastructure further enhance its investment appeal. The property's zoning allows for a multitude of retail and automotive uses, presenting additional development potential. This is a rare opportunity to acquire a well-performing multifamily asset in a dynamic Florida market. The property consists of a two-story commercial building and a 9-unit apartment building, all currently generating income. This is a turnkey investment ready for immediate cash flow.

Location Insight

City

Daytona Beach

County

Volusia

State

Florida

Latitude

29.2258

Longitude

-81.0305

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