Huge upside opportunity with this 9 unit apartment building in Daytona Beach. The unit mix consists of (8) 2 bedrooms and 1 bathroom units with (1) 1 bedroom, 1 bathroom unit. All units are metered separately for electric and are connected to a single water meter. The units have also been recently updated with new hot water heaters, tile flooring, updated kitchens, and bathrooms. The city of Daytona has made a list of code enforcement requirements to repair the building and construct additional parking. Most of the rehab costs will have to do with city requirements and finishing cosmetic updates which we are estimating to be $75,000 - $100,000. Once performing, this investment should generate a 15% yield. We're giving this property an 8% Cap Rate value of $735,000. For more information on this opportunity, please contact your EquityPro Advisor.
Volusia 9 Unit Complex
17 bed / 9 bath8,772 sq ft Built in 1968Multi-family
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