Newport Condominiums

18 Unit Apartment Building | $2,350,000 ($130,556/Unit) | 7.02% Cap Rate | Daytona Beach, FL 32118

Asking Price $2,350,000

Property Type: Multifamily
Square Feet: 18,000 SF

Listing Contacts

Roman Fischer

Verified Profile

Property Info

Property Overview

Opportunity to acquire 18 units value-add in a 39-unit building under $150 per sq.ft. Currently at 7% cap with substantial upside. Waterfront property with immediate access to premier beaches and a private boat dock. All units are 2BR 1BA with central AC. New roofs - replaced in 2019. Concrete block product throughout. Owner financing is available up to 30%, LTV 30%.
Situated in the heart of Daytona Beach, this property provides easy access to local attractions, dining establishments, shopping destinations and hospitals. Daytona Beach with its International Airport and vibrant atmosphere is a bustling city with year-round festivals and events, notably the iconic Daytona 500 NASCAR race.

Property Details

Class: C
Year Built/Renovated: 1971/2007
Stories: 3
Lot Size (sq. ft): 60,113 SF
Units: 18

Highlights

Waterfront multifamily
Seller Financing available up to 50%

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