5080 Ridgewood AvePort Orange, FL 32127

Property Details for 5080 Ridgewood Ave

Year built

1958

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.55 AC

Property size (Sq ft)

1,659 SF

Zone code

B5

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

6310-12-08-0010

APU

631012080010

Description

This fully renovated 18-unit extended-stay property in Port Orange, Florida, offers a compelling investment opportunity. Located at 5080 S Ridgewood Ave, Port Orange, FL 32127, this multifamily building boasts a gross annual income of $336,000, translating to a weekly income of $6,275 per unit. The property features a 14.30% cap rate, indicating a strong return on investment. Comprehensive renovations include a new roof, electrical, mechanical, and plumbing systems, minimizing future maintenance concerns. An optional adjoining half-acre lot provides potential for expansion. The property was fully occupied as of January 31, 2023. This innovative investment alternative presents a robust cap rate solution within a thriving real estate market. The property's consistent income stream and strategic location in Port Orange make it an attractive option for investors seeking a secure and high-yielding asset. The combination of a fully renovated building, strong financial performance, and the potential for future development makes this a truly exceptional investment opportunity. Don't miss the chance to acquire this income-generating gem in the desirable Daytona Beach area.

• CAP approach

  CAP return

  Valuation

  6%

  $488,778

  6.5%

  $451,180

  7%

  $418,953

• Comparable approach

  Method

  Valuation

  Relative Method

  $441,594

  Geo Method

  $287,051

• Alternative Use

  Use

  Valuation

  Residential

  $451,180

  Hospitality

  $413,278

  Educational

  $343,843

  Medical

  $355,668

  Retail

  $534,867

Location Insight

City

Port Orange

County

Volusia

State

Florida

Latitude

29.13

Longitude

-80.982

CBSA code

19660

CBSA name

DELTONA-DAYTONA BEACH-ORMOND BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].