406 Oak St
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406 Oak St
3 Unit Apartment Building $650,000 ($216,667/Unit) 6.73% Cap Rate Port Orange, FL 32127
Investment Highlights
- Separate metered electric & water, central AC, and fully updated
Executive Summary
INVESTOR'S DREAM! This concrete block triplex is in an excellent location, less than 2 miles from the beach, 4 blocks from the river, and 4 blocks from Dunlawton Ave (Port Orange's main artery). You'll never have trouble renting out this property, which is also ZONED FOR SHORT TERM RENTALS. There are separate water meters and electric meters for each unit, keeping owner costs at a minimum. This property has been updated from top to bottom within the past three years, including central A/C units, fully updated kitchens, bathrooms, flooring, electrical, plumbing, new fixtures, and so much more. The exterior has gotten a 6ft vinyl fence to create separate backyards for each unit. For a full list of upgrades ask for the 'Additional Upgrades' sheet. TENANT OCCUPIED. DO NOT VISIT PROPERTY WITHOUT AN APPOINTMENT.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$52,260
|
$29.28
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$52,260
|
$29.28
|
| Taxes |
$5,144
|
$2.88
|
| Operating Expenses |
$3,343
|
$1.87
|
| Total Expenses |
$8,487
|
$4.75
|
| Net Operating Income |
$43,773
|
$24.52
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $52,260 |
| Annual Per SF | $29.28 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $52,260 |
| Annual Per SF | $29.28 |
| Taxes | |
|---|---|
| Annual | $5,144 |
| Annual Per SF | $2.88 |
| Operating Expenses | |
|---|---|
| Annual | $3,343 |
| Annual Per SF | $1.87 |
| Total Expenses | |
|---|---|
| Annual | $8,487 |
| Annual Per SF | $4.75 |
| Net Operating Income | |
|---|---|
| Annual | $43,773 |
| Annual Per SF | $24.52 |
Property Facts
| Price | $650,000 | Lot Size | 0.20 AC |
| Price Per Unit | $216,667 | Building Size | 1,785 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 6.73% | No. Stories | 1 |
| No. Units | 3 | Year Built/Renovated | 1972/2021 |
| Property Type | Multifamily | Parking Ratio | 3.36/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Building Class | C |
| Price | $650,000 |
| Price Per Unit | $216,667 |
| Sale Type | Investment |
| Cap Rate | 6.73% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 1,785 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1972/2021 |
| Parking Ratio | 3.36/1,000 SF |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | 595 |
1 of 1
zoning
| Zoning Code | Multifamily (Multifamily (also zoned for short term rental)) |
| Multifamily (Multifamily (also zoned for short term rental)) |
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406 Oak St
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