640 8th St - Apartments FOR SALE


Holly Hill, FL 32117
$4,600,000 USD
813-387-4754
640 8th St, Holly Hill, FL for Sale
$4,600,000 USD
Apartments - FOR SALE
1/12
null | 6.89% Cap Rate

640 8th St
Holly Hill, FL 32117


HIGHLIGHTS

  • The unit mix consists of a combination of 2/1s, 2/1.5s and 2/2s
  • The property has a long history of strong tenant retention
  • Immediate upside through the re-stabilization of the property after five units were purposely vacated
  • Nearly 80% of the units have been partially or fully renovated
  • Can be purchased in conjunction with Golfview Apartments – 21 units in South Daytona
  • Seller financing available

OVERVIEW

Regents Park is a “B” class, 32-unit, two-story property. The property has been meticulously maintained and operated by the same owner since 1998. Regents is located in a quiet residential area, but just minutes from the two main thoroughfares that run through Daytona, Nova Road and US Highway 1. The property is situated less than six miles from the Tanger Outlets, Volusia Mall, Embry-Riddle Aeronautical University, Daytona International Speedway, Daytona Beach International Airport, and numerous other retail, entertainment and employment opportunities. The sale also includes 3.05 acres of vacant land which are zoned for up to 60 additional units. Waste management permit already approved.

FOR SALE DETAILS

PRICE

$4,600,000 USD

PRICE/SF

$160 USD /SF

# OF UNITS

32

PRICE/UNIT

$143,750

CAP RATE

6.89%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Regents Park

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1986

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.68 AC

LAND SF

73,181 SF

ZONING

0300–MFR OVER 10 UNITS

APN/PARCEL ID

4244-01-07-0125

ASK ABOUT THIS PROPERTY

Jason HagueMarcus & MillichapMore Info
813-387-4754

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Jason HagueMarcus & MillichapMore Info
813-387-4754

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