16 S Grandview Avenue, Daytona Beach, FL 32118
- $699,000
- 5
- BD
- 8
- BA
- 2,972
- SqFt
- List Price
- $699,000
- Status
- Active
- Days on Market
- 36
- Price Change
- ▼ $50,000 1785184759
- MLS#
- O6419368
- Property Style
- Quadruplex
- Year Built
- 1910
- Bedrooms
- 5
- Bathrooms
- 8
- Living Area
- 2,972
- Lot Size
- 5,000
- Acres
- 0.11
- Total Acreage
- 0 to less than 1/4
- Legal Subdivision Name
- Rogers Seabreeze
- MLS Area Major
- Daytona Beach/Holly Hill
Property Description
PRICE IMPROVEMENT! STABILIZED CASH COW PRODUCING AN 8.4% 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 upto 10 units per the Property Appraiser and zero code violations. This property delivers a strong 8.4% 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 on each lease and they want to renew) 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 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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Additional Information
- Taxes
- $5720
- Community Features
- No Deed Restriction
- Zoning
- 02BR1
- Interior Layout
- Other
- Interior Features
- Other
- Utilities
- Public
- Heating
- Ductless
- Air Conditioning
- Wall/Window Unit(s)
- Exterior Construction
- Brick, Wood Siding
- Exterior Features
- Fence, Private Mailbox, Private Yard
- Roof
- Shingle
- Foundation
- Block, Slab
- Pool
- No Pool
- Flood Zone Code
- X
- Parcel ID
- 5304-01-11-0050
- 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
Listing courtesy of CHARLES RUTENBERG REALTY ORLANDO. 407-622-2122
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