404 S Ridgewood Ave - Specialty FOR SALE


Daytona Beach, FL 32114- Greater Daytona
$1,850,000 USD
386-852-7932
404 S Ridgewood Ave, Daytona Beach, FL for Sale
$1,850,000 USD
Specialty - FOR SALE
1/72
null | 8.65% Cap Rate

404 S Ridgewood Ave
Daytona Beach, FL 32114
Greater Daytona


HIGHLIGHTS

  • A RARE GEM A Fully Renovated Historic Victorian Residence
  • Minutes to the beach, Intracoastal Waterway, Daytona International Speedway, Daytona Beach International Airport, and Bethune-Cookman University
  • Ideal for investors seeking cash flow with valueadd or expansion upside Minutes to the beach, Int
  • Diverse redevelopment potential with T-2 zoning
  • Stable income through PadSplit, the largest coliving platform in the U.S.

OVERVIEW

“$650k”+ Total Price Reduction! Motivated Owner(s) is now offering this Portfolio Income at significantly below Market Price. $115 P.S.F. plus 3 contiguous buildable Lots Included. $100k in Furniture and Fixtures for a complete turnkey rented portfolio will be included with a Full Price Cash Offer. Opportunity consisting of 5 parcels that include an 8,000 SF fully renovated Historic Victorian home, a 7,000 SF Co-living property (404 & 408 S Ridgewood Ave), 1,021 SF house (315 Live Oak Ave) plus 3 adjacent land parcels in Daytona Beach, FL. The homes are strategically located with 164 feet of prime frontage on US-1, just minutes away from the beach, the Intercoastal Waterway, and major attractions. This prime location, combined with the recent property enhancements and diverse zoning options, makes this Offering particularly appealing to investors and developers alike. The centerpiece of this portfolio is the stunning Victorian home, listed on the U.S. National Register of Historic Places. Spanning an impressive 8,000 square feet, this Historic Gem boasts 10 uniquely decorated bedrooms, 5 full bathrooms, and two basement apartments. The current lease with Pad Split runs through July 2025. The third property of the portfolio is an adjacent 1,021 SF house located at 315 Live Oak St. The home consists of 4 bedrooms and 1 bathroom, this too has been fully renovated with new bathroom/shower, plumbing and general electric upgrades. All 3 properties benefit from recent leases with Pad Split - the largest co-living marketplace in the US. Pad Split provides accessible and affordable housing solutions to hardworking individuals who form the backbone of society: teachers, traveling nurses, and other frontline workers. Finally, the 3 land parcels adjacent to the homes make up a total of .51 acres on Live Oak Avenue and Segrave St. These land parcels are zoned T-2 which allows for a wide variety of uses.

FOR SALE DETAILS

PRICE

$1,850,000 USD

PRICE/SF

$132 USD /SF

CAP RATE

8.65%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Multi Family 30 Rooms PadSplit- (-$650k)

PROPERTY TYPE

Specialty

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

C

YEAR BUILT

1901

SPRINKLERS

-

PARKING SPACES

18

LAND DETAILS

LAND ACRES

1.48 AC

LAND SF

64,469 SF

ZONING

T2

APN/PARCEL ID

5339-01-17-0061,5339-01-17-0062,5339-01-17-0063,5339-01-17-0064

ASK ABOUT THIS PROPERTY

Dan Lyonnais, CCIMAdams Cameron & Co., Realtors-Commercial DivisionMore Info
386-852-7932

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Dan Lyonnais, CCIMAdams Cameron & Co., Realtors-Commercial DivisionMore Info
386-852-7932

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.