16 S Grandview Ave, Daytona Beach, FL 32118
sale
$769,000
|
Other
Courtesy Of Charles Rutenberg Realty Orlando LLC
STABILIZED 7-UNIT CASH COW PRODUCING AN 8% CAP RATE ON ASKING (AFTER TAXES, INSURANCE, AND EXPENSES)! 3 STREETS FROM THE BEACH! This is a rare, high-performing asset with a confirmed zoning of up to 10 units, and land use of 7 units per the Property Appraiser and zero code violations. This property delivers a strong 8% return in its current state, offering a proven track record of reliable income with even further room for appreciation. The property is fully stabilized with long-term tenants on active leases (6 12 months remaining) who take great pride in the property. Key features include a 2018 roof, solid mechanicals, on-site parking, a common patio area for tenants, and a "High and Dry" X flood zone designation. AS A BONUS: There is a large storage unit on-site that was previously an apartment and could be converted back for additional revenue. Located walking distance to the Main Street Pier and beach access, the equity here is undeniable: a 4-unit property just two doors down recently sold for $600k this is 7 units with immediate, verifiable cash flow from day one. Perfect for a 1031 exchange or a portfolio expansion. Units nearby rent as AirBNB or long-term rentals! Call today!
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Property Features
- Age: Over 50 Years Old
- Architecture Style: Other
- Building Units: 7
- Cooling System: Window Unit(s)
- Cooling System: Multi Units
- Cooling System: Wall/Window Unit(s)
- Exterior Type: Block
- Exterior Type: HardiPlank Type
- Legal Description: LOT 5 BLK 11 ROGERS SEABREEZE DB O PG 301 PER OR 3987 PG 0600 PER OR 8496 PG 3553 PER OR 8674 PGS 1438 THRU 1439 INC PER OR 8680 PG 3564
- MLSID: O6407163
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