1212 S Ridgewood Avenue, Daytona Beach, FL 32114 (MLS# 1107734)

1212 S Ridgewood Avenue, Daytona Beach, FL 32114

$1,400,000

Property Type: Residential Income Bedrooms: 20 Square Footage: 7,202 Status: Closed

Current Price: $1,400,000 List Date: 4/06/2023 Last Modified: 9/23/2024

Overview

Description

18 Unit Apartment Complex that includes 1208 and 1212 S Ridgewood Ave in Daytona Beach each with 9 units. Consists of two parcels including 6 buildings. Central location close to shopping, dining, and main transportation routes. The property has recent improvements and basically stays full. Solid cash flow and a number of units scheduled for rent increases. 1208 has Two 1 bedroom units, One 2 bedroom unit, and Six studio units. 1212 has One 2 bedroom free standing home, One 1 bedroom unit, and Seven studio units. Some units have hardwood floors and the others are tiled. There are additional storage areas and room for a laundry room. The landlord pays the electric and gas for one of the properties. See attached rent roll and pro-forma for financial details.

Listing Details MLS# 1107734

General Property Information

Number Of Units Total: 18
Bedrooms Total: 20
Living Area: 6775
Year Built: 1935
Association YN: Yes
Water Body Access YN: No
Directions: US1 North of Beville Rd on the West side.
Public Remarks: 18 Unit Apartment Complex that includes 1208 and 1212 S Ridgewood Ave in Daytona Beach each with 9 units. Consists of two parcels including 6 buildings. Central location close to shopping, dining, and main transportation routes. The property has recent improvements and basically stays full. Solid cash flow and a number of units scheduled for rent increases. 1208 has Two 1 bedroom units, One 2 bedroom unit, and Six studio units. 1212 has One 2 bedroom free standing home, One 1 bedroom unit, and Seven studio units. Some units have hardwood floors and the others are tiled. There are additional storage areas and room for a laundry room. The landlord pays the electric and gas for one of the properties. See attached rent roll and pro-forma for financial details.
Association Fee 2: 0
List Price/SqFt: 236.16
Sold Price/SqFt: 206.64

Property Features

Appliances: Electric Range; Refrigerator Construction Materials: Block; Concrete; Frame; Shingle Siding; Stucco; Wood Siding Cooling: Central Air; Multi Units; Wall/Window Unit(s) Current Use: Multi-Family Exterior Features: Balcony; Other Heating: Central; Electric; Varies by Unit Lot Features: Corner Lot Owner Pays: Cable TV; Electricity; Exterior Maintenance; Gas; Grounds Care; Hot Water; Management; Pest Control; Taxes; Trash Collection; Water Parking Features: Off Street; Parking Lot Roof: Shingle; Other Sewer: Public Sewer Tenant Pays: Cable TV; Electricity Utilities: Natural Gas Available Water Source: Public

Contract Information

Listing Contract Date: 2023-04-06
Property Sub Type: Multi Family

Location Tax and Legal

Street Number: 1212
Street Direction Prefix: S
Street Name: Ridgewood
Street Suffix: Avenue
County: Volusia
State: FL
Postal Code: 32114
Subdivision Name: Howe
MLS Area Major: 32 - Daytona Beville to ISB, E of 95

Status Change Information

Major Change Timestamp: 2023-06-18T02:28:35Z
Major Change Type: Status Change
Contingent Date: 2023-06-16
Purchase Contract Date: 2023-04-25
Close Date: 2023-06-16
Close Price: 1400000

Income and Expenses

Gross Income: 17425
Gross Scheduled Income: 200460
Net Operating Income: 121343

More Information

Historical Information

Public Historical Remarks 1: Property Name: Casa Del Sol; Meters: # Electric Meters: 14, # Gas Meters: 2, # Water Meters: 2; Financial Pkg: Yes; Franchise Opt In: Yes

Location, Tax, and Legal

Country: US
Parcel Number: 5340-03-03-0100
Tax Annual Amount: 14648
Tax Year: 2022
Tax Legal Description: LOT 10 EXC ST WILDER & HOWE SUB BETHUNE GRANT MB 6 PG 152 PER OR 5225 PG 3516 PER OR 6940 PGS 2295-2296 PER OR 7418 PGS 1235-1237 INC PER OR 8092 PG 4099

Currently Not Used

Bedrooms Total: 20
Living Area Source: Appraiser
Building Area Total: 7202
Year Built: 1935
New Construction YN: No
Carport YN: No
Pool Private YN: No
Parking Total: 18

Appliances

Electric Range: Yes
Refrigerator: Yes

Construction Materials

Block: Yes
Concrete: Yes
Frame: Yes
Shingle Siding: Yes
Stucco: Yes
Wood Siding: Yes

Cooling

Central Air: Yes
Multi Units: Yes
Wall/Window Unit(s): Yes

Current Use

Multi-Family: Yes

Exterior Features

Balcony: Yes
Other: Yes

Heating

Central: Yes
Electric: Yes
Varies by Unit: Yes

Lot Features

Corner Lot: Yes

Owner Pays

Cable TV: Yes
Electricity: Yes
Exterior Maintenance: Yes
Gas: Yes
Grounds Care: Yes
Hot Water: Yes
Management: Yes
Pest Control: Yes
Taxes: Yes
Trash Collection: Yes
Water: Yes

Parking Features

Off Street: Yes
Parking Lot: Yes

Roof

Shingle: Yes
Other: Yes

Sewer

Public Sewer: Yes

Tenant Pays

Cable TV: Yes
Electricity: Yes

Utilities

Natural Gas Available: Yes

Water Source

Public: Yes

Listing Office: RE/MAX Signature

Last Updated: September - 23 - 2024

Information deemed reliable but not guaranteed.

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