500 Lenox Avenue, Daytona Beach, FL 32118
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  • MLS#: 1216694 ( Residential Income )
  • Street Address: 500 Lenox Avenue
  • Viewed: 6
  • Price: $615,000
  • Price sqft: $145
  • Waterfront: No
  • Year Built: 1947
  • Bldg sqft: 4249
  • Bedrooms: 6
  • Total Baths: 5
  • Full Baths: 5
  • Additional Information
  • Geolocation: 29 / -81
  • County: VOLUSIA
  • City: Daytona Beach
  • Zipcode: 32118
  • Subdivision: Not On The List
  • Provided by: Keller Williams Realty Florida Partners
  • Daytona Beach Area Association of REALTORS®
  • DMCA Notice
  • 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.
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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
  • Parcel Number: 530926020160