16 S GRANDVIEW AVE, DAYTONA BEACH, FL, 32118
$769,000
Commercial Sale
|
Living Area
2,972 Sqft
|
Lot Size
5,000 Sqft
|
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, 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!
Property Details
| Property Features | Property Features | |||
|---|---|---|---|---|
| MLS ID: | MFRO6407163 | Year Built: | 1910 | |
| Construction Materials: | Block, HardiPlank Type | Cooling: | Wall/Window Unit(s) | |
| Country: | US | County Or Parish: | Volusia | |
| Foundation Details: | Slab | Income Includes: | Rent Only | |
| Listing Agreement: | Exclusive Right To Sell | Listing Terms: | Cash | |
| Property Sub Type: | Multi-Family 5+ | Property Type: | Commercial Sale | |
| Road Frontage Type: | City Street | Road Surface Type: | Paved | |
| Showing Requirements: | See Remarks | Special Listing Conditions: | None | |
| Standard Status: | Active | State Or Province: | FL | |
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