Address: 500 Lenox Avenue, Daytona Beach, FL 32118
Description
Rarely available and impossible to replicate at this price this top performing, fully rented 5 Unit concrete block building delivers a 9+ PERCENT CAP RATE, over $66,000 in annual gross income, and sits just 0.2 miles from the Atlantic Ocean and 0.25 miles from the Intracoastal Waterway. All units have separate water and electric meters, meaning tenants pay their own utilities, keeping your expenses low and your cash flow high.
The property is occupied by great tenants and managed by a trusted local management company that can continue service for a smooth, hands off transition. Three of the units are oversized 2 bedroom, 1 bath layouts, one is a 1 bedroom, 1 bath, and one unit is a studio offering a strong and diversified rental mix. Two of the 2 bedroom units were just remodeled with new flooring, updated kitchens, modern bathroom fixtures, and fresh interior paint. Add in the newer roof and fresh exterior paint, and you've got peace of mind built right in.
The .... CON'T .... location is unbeatable with the beach just seconds away, the Daytona Beach Pier just 1 mile away, reach the world famous Daytona International Speedway in under 10 minutes, and enjoy quick access to I 95 and I 4. With proven income, prime coastal positioning, and recent upgrades, this is a turnkey investment opportunity that checks every box for cash flow, stability, and location. Opportunities like this are rare, secure it now and start collecting rent from day one.
Rarely available and impossible to replicate at this price this top performing, fully rented 5 Unit concrete block building delivers a 9+ PERCENT CAP RATE, over $66,000 in annual gross income, and sits just 0.2 miles from the Atlantic Ocean and 0.25 miles from the Intracoastal Waterway. All units have separate water and electric meters, meaning tenants pay their own utilities, keeping your expenses low and your cash flow high.
The property is occupied by great tenants and managed by a trusted local management company that can continue service for a smooth, hands off transition. Three of the units are oversized 2 bedroom, 1 bath layouts, one is a 1 bedroom, 1 bath, and one unit is a studio offering a strong and diversified rental mix. Two of the 2 bedroom units were just remodeled with new flooring, updated kitchens, modern bathroom fixtures, and fresh interior paint. Add in the newer roof and fresh exterior paint, and you've got peace of mind built right in.
The .... CON'T .... location is unbeatable with the beach just seconds away, the Daytona Beach Pier just 1 mile away, reach the world famous Daytona International Speedway in under 10 minutes, and enjoy quick access to I 95 and I 4. With proven income, prime coastal positioning, and recent upgrades, this is a turnkey investment opportunity that checks every box for cash flow, stability, and location. Opportunities like this are rare, secure it now and start collecting rent from day one.
Features
Building and Construction
Flooring: Carpet, Tile, Wood
Roof: Shingle
Land Information
Lot Features: Corner Lot
Garage and Parking
Parking Features: Off Street, On Street, Unassigned
Eco-Communities
Water Source: Public
Utilities
Cooling: Multi Units, Wall/Window Unit(s)
Heating: Individual
Sewer: Public Sewer
Utilities: Separate Electric Meters, Separate Water Meters
Finance and Tax Information
Tax Year: 2024
Rental Information
Tenant Pays: Electricity, Water
Other Features
Appliances: Refrigerator, Electric Range, Electric Oven
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