1202 #1 Ridgewood Ave Holly HlDaytona Beach, FL 32117

Property Details for 1202 #1 Ridgewood Ave Holly Hl

Property size (Sq ft)

2,640 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 10-unit apartment building in Daytona Beach, Florida presents a compelling investment opportunity. Located at 1202 #1 Ridgewood Ave, Holly Hill, FL 32117, this property boasts a total of 2,640 square feet and offers a current NOI of $76,200, translating to a 9.52% cap rate. Pro-forma projections indicate a significant increase in NOI to $88,200, resulting in an attractive 11.02% pro-forma cap rate. The asking price for this portfolio is $800,000, representing a price per unit of $80,000. Each of the ten efficiency units is currently rented, generating monthly rental income between $850 and $1000 per unit. The property benefits from a comprehensive HOA fee of $265 per unit, covering a wide range of essential services including water, electricity, gas, internet, cable television, landscaping, insurance, and pest control. The HOA encompasses a total of 105 units, ensuring a well-maintained and managed community. Owner financing is available, making this an easily accessible investment opportunity with substantial potential for growth and strong cash flow. This property is situated in Volusia County, Florida, offering a prime location within a thriving market.

Location Insight

City

Daytona Beach

County

Volusia

State

Florida

Latitude

29.241

Longitude

-81.0699

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