16 S GRANDVIEW AVE, DAYTONA BEACH, FL, 32118
$749,000
Residential Income
|
Bedrooms
5
|
Bathrooms
8
|
Living Area
2,972 Sqft
|
Lot Size
5,000 Sqft
|
STABILIZED CASH COW PRODUCING AN 7.87% 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 7.87% 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!
Property Details
| Property Features | Property Features | |||
|---|---|---|---|---|
| MLS ID: | MFRO6419368 | Year Built: | 1910 | |
| Construction Materials: | Brick, Wood Siding | Cooling: | Wall/Window Unit(s) | |
| Country: | US | County Or Parish: | Volusia | |
| Exterior Features: | Fence, Private Mailbox, Private Yard | Foundation Details: | Block, Slab | |
| Heating: | Ductless | Laundry Features: | Laundry Room | |
| Listing Agreement: | Exclusive Right To Sell | Listing Terms: | Cash, Conventional | |
| Other Equipment: | Private Yard | Property Sub Type: | Quadruplex | |
| Property Type: | Residential Income | Road Surface Type: | Paved | |
| Roof: | Shingle | Sewer: | Public Sewer | |
| Showing Requirements: | Call Before Showing, Call Listing Agent | Special Listing Conditions: | None | |
| Standard Status: | Active | State Or Province: | FL | |
| Utilities: | Public | Water Source: | Public | |
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