16 S Grandview Avenue, Daytona Beach, FL 32118
- $699,000
- 5
- BD
- 8
- BA
- 2,972
- SqFt
- List Price
- $699,000
- Status
- Active
- MLS#
- O6419368
- Price Change
- ▼ $50,000 1785184759
- Property Type
- Quadruplex
- Bedrooms
- 5
- Bathrooms
- 8
- Living Area
- 2,972
- Lot Size
- 5,000
- Region
- Daytona Beach/Holly Hill
- Area
- 2972
- County
- Volusia
- Acres
- 0.11
- Year Built
- 1910
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!
Additional Information
- Roof
- Shingle
- Land Type
- No Deed Restriction
- Zoning
- 02BR1
- Lot Size
- 5,000
- Construction
- Brick, Wood Siding
- Year Built
- 1910
- Sewer
- Public Sewer
- Heating
- Ductless
- Subdivision
- Rogers Seabreeze
- Living Area
- 2,972
Listing courtesy of CHARLES RUTENBERG REALTY ORLANDO. 407-622-2122
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