16 S Grandview Ave
Daytona Beach, FL 32118

Listed at $769,000

Details

  • MLS# O6407163
  • Commercial - Multiple
  • Status Active
  • 0 Bedrooms
  • Bathrooms
  • 4,000 Square Feet
  • 0.110 acres
  • Built in 1910
  • Local Schools

Description

STABILIZED 7-UNIT CASH COW PRODUCING AN 8% 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 7 units per the Property Appraiser and zero code violations. This property delivers a strong 8% 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) who take great pride in the property. Key features include a 2018 roof, solid mechanicals, on-site parking,...read more 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 7 units with immediate, 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!

Features

  • Wall/Window Unit(s)
  • 1.0 Story
  • $5,720 Taxes
  • Built in 1910
View All Features

Contact the Agent

Contact the Listing Agent
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All Property Features

  • Property Type: Commercial - Multiple
  • Cooling: Wall/Window Unit(s)
  • Directions: I4 TO DAYTONA BEACH INTL SPEEDWAY
  • Exterior: Block, HardiPlank Type
  • Flood Zone Code: X
  • Foundation: Slab
  • Home Warranty Y/N: No
  • Listing Terms: Cash
  • Lot Dimensions: 0.11
  • Lot Size: 0.11 Acres
  • Ownership: Fee Simple
  • Property Attached Y/N: No
  • Property Sub-Type: Multi-Family 5+
  • Sale Includes: Building(s) and Land, Furniture/Fixtures, Leases
  • Showing Instructions: See Remarks
  • Special Sale Provisions: None
  • Stories: 1.0
  • Taxes: $5,720
  • Units: 7
  • Water Access Y/N: No
  • Year Built: 1910
  • Zoning: 02BR1