404 S Ridgewood Avenue
Daytona Beach, FL 32114
- 28 beds
- 10 baths
- 16,700 sqft
- ~2 acre lot
- $136 per sqft
- 1901 build
- – on site
$400K Price Improvement! Stabilized cash on cash return of 11.85%! Takeover 7.2% cap rate with further opportunity to increase revenue immediately on takeover. Below market $136 price per / SF for a newly renovated portfolio. 3 vacant lots included for additional development and cash flow! Creative Seller financing available for the right deal structure! Email agent for Offering Memorandum and financials. The Historic Daytona Portfolio offers 3 buildings on 5 contiguous parcels on 1.5 acres in Daytona Beach, FL with 164 feet of frontage on US-1. The crown jewel of the portfolio is the fully renovated Victorian masterpiece featuring 8,0000 s/f of living space with 10 bedrooms, 5 bathrooms and 2 additional basement apartment units. The Victorian recently is being utilized as a short term rental. Adjacent to the Victorian is the fully renovated Co-Living House, featuring 13 bedrooms and 4 bathrooms. The house is currently 100% occupied, utilizing PadSplit which is an online platform that allows rooms to be rented by the week. Situated west of the Victorian sits a fully renovated single family home at 315 Live Oak St. and features 3 bedrooms and 1 bathroom, also rented by the room via PadSplit. The property features a combined 28 bedrooms, 12 bathrooms and a total of 16,700 square feet. • 3 additional contiguous lots are included in the offering: West End Parcel: Parcel ID 533901170060 .24 acres Middle parcel: Parcel ID: 533901170061 .126 acres East End Parcel: Parcel ID: 533901170064 .143 acres The 3 lots equal roughly half an acre. An investor could reconfigure the existing parking area and develop 2 or 3 of these additional lots. • All 5 parcels are zoned T-2 which allows for a wide variety of uses including: single family, multifamily, short term rental, assisted living, skilled nursing, office, retail, restaurant, and more. Current ownership is utilizing the portfolio for residential rentals, however, a variety of other uses are allowed including ALF, Skilled Nursing, Office, Single Family, Multifamily, Retail and more. • Addresses for the Portfolio Include: (The Victorian) 404 S. Ridgewood Ave. Daytona Beach, FL 32114 (The Co-Living House) 408 S. Ridgewood Ave. Daytona Beach, FL 32114 (The SFR) 315 Live Oak Ave. Daytona Beach, FL 32114 *The Victorian and the Co-Living House are on the same parcel. *The SFR is on a separate Parcel All 5 parcels are zoned T-2 which allows for a wide variety of uses including: single family, multifamily, short term rental, assisted living, skilled nursing, office, retail, restaurant, and more. Current ownership is utilizing the portfolio for residential rentals, however, a variety of other uses are allowed including ALF, Skilled Nursing, Office, Single Family, Multifamily, Retail and more. • Addresses for the Portfolio Include: (The Victorian) 404 S. Ridgewood Ave. Daytona Beach, FL 32114 (The Co-Living House) 408 S. Ridgewood Ave. Daytona Beach, FL 32114 (The SFR) 315 Live Oak Ave. Daytona Beach, FL 32114 *The Victorian and the Co-Living House are on the same parcel. *The SFR is on a separate Parcel
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Last updated Apr 30, 2024
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MLS# O6175921 —
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Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
4/29/24
Apr 29, 2024
|
Price Changed | STELLAR_MLS | $2,280,000 | -4.6% |
|
4/9/24
Apr 9, 2024
|
Price Changed | STELLAR_MLS | $2,390,000 | -4.0% |
|
3/27/24
Mar 27, 2024
|
Price Changed | STELLAR_MLS | $2,490,000 | -3.9% |