Price Reduction
Address
404 S Ridgewood AVENUE, DAYTONA BEACH, FL
Price
$ 1,999,000
Property Attributes
- MLS#O6175921
- TypeIncome
- CountyVOLUSIA
- CityDAYTONA BEACH
- AreaDaytona Beach
- NeighborhoodDaytona
- Zip32114
- StyleMulti Family
- Year Built1901
- Taxes$ 7513
- Price$ 1,999,000
- Bedrooms28
- Full Bathrooms10
- Half Bathrooms0
- Sqr Footage16700
- Lot Size1.5 Acres
Data Source:
Stellar MLS
Property Description
$650K Price Improvement! Stabilized cash on cash return of 11.52%! Takeover 8.21% takeover cap rate with opportunity to increase revenue immediately upon takeover! Below market $119.70 price / SF for a newly renovated portfolio. 3 vacant lots included for additional development and cash flow! Sellers prefer cash at closing at the current reduced price. No seller financing or creative financing offers will be entertained. Email agent for Offering Memorandum and financials. The Historic Daytona Portfolio offers 3 buildings on 5 contiguous parcels on 1.5 acres in Daytona Beach, FL with 164 feet of frontage on US-1. The crown jewel of the portfolio is the fully renovated Victorian masterpiece featuring 8,0000 s/f of living space with 10 bedrooms, 5 bathrooms and 2 additional basement apartment units. The Victorian recently is being utilized as a short term rental. Adjacent to the Victorian is the fully renovated Co-Living House, featuring 13 bedrooms and 4 bathrooms. The house is currently 100% occupied, utilizing PadSplit which is an online platform that allows rooms to be rented by the week. Situated west of the Victorian sits a fully renovated single family home at 315 Live Oak St. and features 3 bedrooms and 1 bathroom, also rented by the room via PadSplit. The property features a combined 28 bedrooms, 12 bathrooms and a total of 16,700 square feet. • 3 additional contiguous lots are included in the offering: West End Parcel: Parcel ID 533901170060 .24 acres Middle parcel: Parcel ID: 533901170061 .126 acres East End Parcel: Parcel ID: 533901170064 .143 acres The 3 lots equal roughly half an acre. An investor could reconfigure the existing parking area and develop 2 or 3 of these additional lots. • All 5 parcels are zoned T-2 which allows for a wide variety of uses including: single family, multifamily, short term rental, assisted living, skilled nursing, office, retail, restaurant, and more. Current ownership is utilizing the portfolio for residential rentals, however, a variety of other uses are allowed including ALF, Skilled Nursing, Office, Single Family, Multifamily, Retail and more. • Addresses for the Portfolio Include: (The Victorian) 404 S. Ridgewood Ave. Daytona Beach, FL 32114 (The Co-Living House) 408 S. Ridgewood Ave. Daytona Beach, FL 32114 (The SFR) 315 Live Oak Ave. Daytona Beach, FL 32114 *The Victorian and the Co-Living House are on the same parcel. *The SFR is on a separate Parcel All 5 parcels are zoned T-2 which allows for a wide variety of uses including: single family, multifamily, short term rental, assisted living, skilled nursing, office, retail, restaurant, and more. Current ownership is utilizing the portfolio for residential rentals, however, a variety of other uses are allowed including ALF, Skilled Nursing, Office, Single Family, Multifamily, Retail and more. • Addresses for the Portfolio Include: (The Victorian) 404 S. Ridgewood Ave. Daytona Beach, FL 32114 (The Co-Living House) 408 S. Ridgewood Ave. Daytona Beach, FL 32114 (The SFR) 315 Live Oak Ave. Daytona Beach, FL 32114 *The Victorian and the Co-Living House are on the same parcel. *The SFR is on a separate Parcel
| Price History | |
|---|---|
| 2/2/2024 | Listed $2,690,000 |
| 3/13/2024 | 4% - $2,590,000 |
| 3/27/2024 | 4% - $2,490,000 |
| 4/9/2024 | 5% - $2,390,000 |
| 4/29/2024 | 5% - $2,280,000 |
| 5/14/2024 | 13% - $1,999,000 |
General Features
| Interior Features | High Ceilings,Vaulted Ceiling(s) |
|---|---|
| Sewer | Public Sewer |
| Heating | Electric |
| Cooling | Central Air |
| Utilities | BB/HS Internet Available,Cable Connected,Electricity Connected,Sewer Connected,Water Connected |
| Roof | Shingle |
| Exterior Features | Storage |
| Zoning | T-2 |
| Construction Materials | Wood Siding |
| Year Built | 1901 |
| Property SubType | Multi Family |
| Tax Year | 2023 |
| Percent Ownership | Fee Simple |
| County | Volusia |
| New Construction | No |
| Property Type | Residential Income |
| HOA / Comm Assn | No |
| Subdivision Name | DAYTONA |
| Garage Y/N | No |
| Status | Active |
| Directions | Heading south on Ridgewood Ave,Pass Live Oak Ave. and the Victorian is the first building on the right. |
| City | DAYTONA BEACH |
| Buyer Agent Compensation | 2% |
| Senior Community Y/N | No |
| Total Units | 17 |
| MLS Area | 32114 - Daytona Beach |
| Lot Size Square Feet | 65558 |
| Private Pool | No |
| Waterfront Y/N | No |
| Carport Y/N | No |
| Street Name | Ridgewood |
| Tax Annual Amount | 7513 |
| Public Remarks | $650K Price Improvement! Stabilized cash on cash return of 11.52%! Takeover 8.21% takeover cap rate with opportunity to increase revenue immediately upon takeover! Below market $119.70 price / |
| Lease Considered Y/N | Yes |
| Virtual Tour | https://media.showingtimeplus.com/sites/404-s-ridgewood-ave-daytona-beach-fl-32114-7476224/branded |
| Days on Market | 102 |
| Standard Status | Active |
| Tax Lot | 0062 |
| Legal Description | N 1/2 OF LOT 5 EXC HWY & E 144 FT OF LOT 6 EXC HWY BLK 17 DA YTONA PER OR 3497 PG 1396 PER OR 6622 PGS 1312-1314 PER OR 6 634 PG 2945 PER OR 6816 PG 0127 PER OR 7420 PG 2577 PER OR 7 |
| Water Access Y/N | No |
| Water View Y/N | No |
Interior Features
| Furnished Y/N | Negotiable |
|---|---|
| Air Conditioning Y/N | Yes |
| Heating Y/N | Yes |
| Fireplace Y/N | Yes |
| Street Suffix | AVENUE |
| Laundry Features | Laundry Room |
| Total Bedrooms | 28 |
| LivingAreaSource | Public Records |
| Total Baths | 10 |
| Living Area Units | Square Feet |
Exterior Features
| Water Source | Public |
|---|---|
| Lot Size Area | 1.505 |
| Foundation Details | Slab |
| Number of Buildings | 3 |
| Lot Size Acres | 1.5 |
| Road Surface Type | Asphalt |
| Lot Size Units | Acres |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Income Average in 32114
Price
Taxes
Visits
Year Built
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All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided 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.
Updated on May 16, 2024 9:53 PM UTC
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© 2024 Florida Gulf Coast MLS (FGCMLS) Information deemed reliable, but not guaranteed. The IDX data relating to real estate for sale on this web site comes in part from the Florida Gulf Coast Multiple Listing Service. The information being provided is 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 not guaranteed.
