3738 S Atlantic Avenue, Daytona Beach Shores, FL 32118
$1,372,000
Property Type:
Residential Income
Bedrooms:
19
Square Footage:
6,696
Lot Size (sq. ft.):
20,473
Status:
Closed
Current Price:
$1,372,000
List Date:
8/03/2020
Last Modified:
9/23/2024
Description
This 19 Unit Concrete Block Multi Family property is located in the highly sought after Daytona Beach Shores. This cash flowing property is directly across the street from the beautiful Atlantic Ocean with a direct beach walkway from the property to the beach! Almost every unit features beautiful Ocean & Intracoastal views without the tenant even having to go outside. Most every unit has been fully renovated - with new flooring, new appliances, new kitchens, interior and exterior paint and light fixtures have been added as well. Onsite fenced in pool for the tenants privacy and enjoyment. Each unit brings in an average of $1,000 per month for a true 8% + cap rate with opportunity for value add. The area is booming with new business and new projects do not miss out on this opportunity!
Supplements: 12 of the units feature kitchenettes and have the ability to be converted to either a 2 bedroom unit and/or all units could feature a kitchenette with some slight modifications. The property is a short stones throw away from the beach and $500,000+ Oceanfront Condo Units; $1M+ Riverfront Homes; a Brand New Oceanfront Condo Development that will be completed this year called the "Aruba Condominiums." This 19 Unit income producing property is also just 3 doors down from the Sunglow Pier with the famous Crabby Joes restaurant sitting on it, and is just a 5-10 minute ride to Ponce Inlet and the famous Ponce Inlet Lighthouse.
More Information MLS# 1074002
Location, Tax, and Legal
Country: US
Parcel Number: 6302-05-08-0180
Tax Annual Amount: 18135
Tax Year: 2019
Tax Legal Description: LOTS 17 & 18 BLK 8 OCEAN VIEW SECHALIFAX ESTS PER OR 5268 PGS 0362-0363 PER OR 6878 PG 0839 PER OR 6955 PG 3341 PER OR 7129 PG 3369 PER OR 7527 PG 4981
Currently Not Used
Bedrooms Total: 19
Living Area Source: Appraiser
Building Area Total: 6696
Year Built: 1954
Carport YN: No
Pool Private YN: Yes
View
Ocean: 1
River: 1
General Property Information
Lot Size Acres: 0.47
Lot Size Dimensions: 20,500
Living Area: 6696
Number Of Units Total: 19
Association YN: Yes
Association Fee 2: 0
Directions: Take Dunlawton bridge to A1A, South 0.5 Miles, Property is located on the right hand side of A1A across from the beach
Public Remarks: This 19 Unit Concrete Block Multi Family property is located in the highly sought after Daytona Beach Shores. This cash flowing property is directly across the street from the beautiful Atlantic Ocean with a direct beach walkway from the property to the beach! Almost every unit features beautiful Ocean & Intracoastal views without the tenant even having to go outside. Most every unit has been fully renovated - with new flooring, new appliances, new kitchens, interior and exterior paint and light fixtures have been added as well. Onsite fenced in pool for the tenants privacy and enjoyment. Each unit brings in an average of $1,000 per month for a true 8% + cap rate with opportunity for value add. The area is booming with new business and new projects do not miss out on this opportunity!
Water Body Access YN: No
List Price/SqFt: 224.01
Sold Price/SqFt: 204.9
Bedrooms Total: 19
Year Built: 1954
Appliances
Electric Range: 1
Microwave: 1
Refrigerator: 1
Construction Materials
Block: 1
Concrete: 1
Cooling
Wall/Window Unit(s): 1
Current Use
Multi-Family: 1
Single Family: 1
Exterior Features
Balcony: 1
Income and Expenses
Gross Income: 19000
Gross Scheduled Income: 228000
Owner Pays
Cable TV: 1
Electricity: 1
Exterior Maintenance: 1
Grounds Care: 1
Insurance: 1
Taxes: 1
Water: 1
Parking Features
Guest: 1
Off Street: 1
Parking Lot: 1
RV Access/Parking: 1
Pool Features
In Ground Private: 1
Roof
Other: 1
Sewer
Public Sewer: 1
Unit 1 Details
Unit ID: 19
Actual Rent: 1000
Beds Total: 1
Full Baths Total: 1
Furnished: Unfurnished
Water Source
Public: 1
Historical Information
Public Historical Remarks 1: Meters: # Electric Meters: 19, # Water Meters: 1; Road Frontage: 100; Depth: 205; Financial Pkg: Yes; Franchise Opt In: Yes
Contract Information
Current Price: $1,372,000
Sold Price: $1,372,000
Status: Closed
Listing Contract Date: 2020-08-03
Property Sub Type: Multi Family
Location Tax and Legal
Street Number: 3738
Street Direction Prefix: S
Street Name: Atlantic
Street Suffix: Avenue
County: Volusia
State: FL
Postal Code: 32118
Subdivision Name: Atlantic Shores
MLS Area Major: 12 - S Dunlawton to N Ponce Inlet
Status Change Information
Major Change Timestamp: 2020-11-09T19:55:01Z
Major Change Type: Status Change
Price Change Timestamp: 2020-09-17T16:54:23Z
Purchase Contract Date: 2020-09-19
Close Date: 2020-11-06
Close Price: 1372000
Property Features
Appliances: Electric Range; Microwave; Refrigerator
Construction Materials: Block; Concrete
Cooling: Wall/Window Unit(s)
Current Use: Multi-Family; Single Family
Exterior Features: Balcony
Owner Pays: Cable TV; Electricity; Exterior Maintenance; Grounds Care; Insurance; Taxes; Water
Parking Features: Guest; Off Street; Parking Lot; RV Access/Parking
Pool Features: In Ground Private
Roof: Other
Sewer: Public Sewer
View: Ocean; River
Water Source: Public
Listing Office:
Keller Williams Realty Florida Partners
Last Updated: September - 23 - 2024
Information deemed reliable but not guaranteed.