404 Ridgewood AveDaytona Beach, FL 32114

Property Details for 404 Ridgewood Ave

Year built

1901

Construction

WOOD

Lot size

0.87 AC

Property size (Sq ft)

7,348 SF

Zone code

T2

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

5339-01-17-0062

APU

533901170062

Description

This exceptional investment opportunity in Daytona Beach, Florida, presents a portfolio of two properties totaling 26 units. The centerpiece is a meticulously restored Victorian home, listed on the U.S. National Register of Historic Places. This 8,000 square foot landmark boasts 11 bedrooms and 5 bathrooms, complemented by two additional basement apartments. Adjacent to the Victorian is a fully renovated co-living house featuring 13 bedrooms and 4 bathrooms. Both properties underwent comprehensive renovations in 2023, incorporating hotel-level interior design. Currently utilized as residential rentals, the properties are situated on a combined 1.48 acres and benefit from T-2 zoning, allowing for a wide range of future uses. The properties are strategically located in the heart of downtown Daytona Beach, just minutes from the beach, Daytona International Airport, Daytona International Speedway, and Bethune-Cookman University. The Victorian and co-living house are currently leased through a platform that facilitates weekly rentals, maximizing occupancy and cash flow. This portfolio offers a unique blend of historic charm, modern amenities, and significant upside potential in a rapidly growing market. The property consists of two buildings, three stories each, with a total of 15,000 square feet of net rentable space. The properties are situated on two parcels with APNs 5339-01-17-0062 and 5339-01-17-0060. Built in 1896 and extensively renovated in 2023, this portfolio represents a rare opportunity to acquire a high-performing asset in a prime location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,913,093

  6.5%

  $1,765,932

  7%

  $1,639,794

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,680,818

  Geo Method

  $1,271,399

• Alternative Use

  Use

  Valuation

  Residential

  $1,765,932

  Hospitality

  $1,617,584

  Educational

  $1,345,811

  Medical

  $1,392,095

  Retail

  $2,093,484

Location Insight

City

Daytona Beach

County

Volusia

State

Florida

Latitude

29.2048

Longitude

-81.0199

CBSA code

19660

CBSA name

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

Property Tax & Assessments

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