Description
BRAND NEW ROOF & INSTANT EQUITY with this 9 unit apartment priced $125k under appraised value for a quick sale, this is a no brainer investment! Located beach side on our main corridor International Speedway Blvd in a redevelopment zone that allows air bnb. Just two properties back from A1A and the beach. Great flexibility to keep as a long-term rental with a current annual gross income of over $100k. Professional management currently in place for immediate cash flow OR with a variance (details provided) use as a profitable Air BNB and there is still room to increase rents and profitability. Total of 9 units including: 2 - 2 bed units, 4 - 1 bed units, and 3 studios.The majority of units have updated kitchens including new or newer appliances and bathrooms within the last 5 years, and most units have updated flooring. Exterior was just painted. No flooding! Take advantage of this cash flowing opportunity at the beach in Daytona Beach! NOI: 73,615 Cap Rate: 10%
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11BEDS
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0.11ACRES
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0BATHS
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01/2 BATHS
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3,195SQFT
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$243$/SQFT
School Ratings & Info
Description
BRAND NEW ROOF & INSTANT EQUITY with this 9 unit apartment priced $125k under appraised value for a quick sale, this is a no brainer investment! Located beach side on our main corridor International Speedway Blvd in a redevelopment zone that allows air bnb. Just two properties back from A1A and the beach. Great flexibility to keep as a long-term rental with a current annual gross income of over $100k. Professional management currently in place for immediate cash flow OR with a variance (details provided) use as a profitable Air BNB and there is still room to increase rents and profitability. Total of 9 units including: 2 - 2 bed units, 4 - 1 bed units, and 3 studios.The majority of units have updated kitchens including new or newer appliances and bathrooms within the last 5 years, and most units have updated flooring. Exterior was just painted. No flooding! Take advantage of this cash flowing opportunity at the beach in Daytona Beach! NOI: 73,615 Cap Rate: 10%
© 2023 Daytona Beach Area Association of Realtors®, Inc.All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Cook Group Luxury Real Estate | Realty Pros Assured. Data last updated: 2023-09-23T12:24:17.103.