1208 S Ridgewood Ave
Daytona, FL 32114

Listed at $8,888,888

Details

  • MLS# A12011183
  • Commercial - Business
  • Status Active
  • 0 Bedrooms
  • Bathrooms
  • 0 Square Feet
  • 1.720 acres
  • Built in 0
  • Local Schools

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...read more 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.

Features

  • Tile
  • Wood
  • 2.0 Stories
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All Property Features

  • Property Type: Commercial - Business
  • Accessibility: Accessible Parking
  • Crops Included Y/N: No
  • Days on Site: 188
  • Exterior: Concrete Block Construction, CBS Construction, Frame
  • Fenced: Yes
  • Flooring: Tile, Wood
  • Home Warranty Y/N: No
  • Lease Considered Y/N: No
  • Listing Terms: All Cash, Conventional/Refinance
  • Lot Size: 1.72 Acres
  • Parcel#: 40 15 33 03 03 0010
  • Parking: Common, Free Parking, Guest
  • Parking Notes: Common, Free Parking, Guest
  • Property Attached Y/N: No
  • Property Sub-Type: Income/MultiFamily
  • Roof Type: Shingle
  • Security: Security Fence
  • Stories: 2.0