2525 Oleander AveDaytona Beach, FL 32118

Property Details for 2525 Oleander Ave

Year built

1969

Property size (Sq ft)

1,020 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

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

Location Insight

City

Daytona Beach

County

Volusia

State

Florida

Latitude

29.2621

Longitude

-81.0295

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