1208 S Ridgewood Avenue,Daytona Beach, FL 32114
Daytona Beach, FL 32114
Description
RARE OPPORTUNITY! 60-UNIT VALUE-ADD MULTIFAMILY PORTFOLIO IN PRIME DAYTONA BEACH LOCATION WITH US-1 FRONTAGE! Income-producing asset featuring 60 UNITS across 9 BUILDINGS on 1.72 ACRES, offering IMMEDIATE CASHflow with significant upside potential. the property delivers strong in-place income with opportunity for increased NOI through continued lease-up and rent growth. Over $500,000 in capital improvements have been completed, with approximately 51 of units renovated, rented, and the remaining units scheduled for COMPLETION PRIOR TO CLOSING. Renovated units feature modern kitchens, updated appliances, designer finishes, and luxury vinyl flooring. Unit mix includes 40 one-bedroom units, 13 studios, and 7 two-bedroom units, well-positioned for strong workforce and student housing demand near Embry-Riddle and Daytona State College. Structured as a MULTI FOLIO OVAL ASSAMBLAGE with zoning allowing potential hotel conversion, offering long-term flexibility and redevelopment optionality. Located along the high-visibility US-1 corridor and minutes from Daytona Beach, this asset supports multiple EXIT strategies including long-term hold, refinance, repositioning, or redevelopment. Ideal for multifamily operators, private investors, and 1031 exchange buyers seeking scale, yield, and value creation in a high-demand rental market.
Details
| MLS # | A12011183 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 185 |
| Listing Provided By | The Keyes Company | Madelyn Andrade |
Features
| SQ Feet | 41,397 |
|---|---|
| Building(s) | 9 |
| Acreage | 1.72 |
Exterior
| Lot Features | One To Two Acres |
|---|
Parking
| Parking Features | Common, Free Parking, Guest |
|---|
Area Information
| State | FL |
|---|---|
| County | Volusia |
| City | Daytona Beach |
| Zip Code | 32114 |
| Area | 5940 Other Florida County |
| Listing VS Median (in 32114) | |
Price: $8,888,888 low | high Med: $4,445,544 sqft: 41,397 low | high Med: 21,422 $ / sqft: $215 low | high Med: $108 On site: 185 low | high Med: 102.5 | |
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Learn More About This Property
| State | FL |
|---|---|
| County | Volusia |
| City | Daytona Beach |
| Zip Code | 32114 |
| Area | 5940 Other Florida County |
| Listing VS Median (in 32114) | |
Price: $8,888,888 low | high Med: $4,445,544 sqft: 41,397 low | high Med: 21,422 $ / sqft: $215 low | high Med: $108 On site: 185 low | high Med: 102.5 | |