2525 Oleander AveDaytona Beach, FL 32118

Property Details for 2525 Oleander Ave

Year built

1969

Property size (Sq ft)

1,020 SF

Property type

Apartment buildings

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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