Newport Condominiums | 900 S Peninsula Dr
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Newport Condominiums 900 S Peninsula Dr
18 Unit Apartment Building $2,350,000 ($130,556/Unit) 7.02% Cap Rate Daytona Beach, FL 32118
Investment Highlights
- Waterfront multifamily
- Seller Financing available up to 50%
Executive Summary
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.
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.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,350,000 | Apartment Style | Low Rise |
| Price Per Unit | $130,556 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.38 AC |
| Cap Rate | 7.02% | Building Size | 18,000 SF |
| No. Units | 18 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1971/2007 |
| Property Subtype | Apartment |
| Price | $2,350,000 |
| Price Per Unit | $130,556 |
| Sale Type | Investment |
| Cap Rate | 7.02% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 1.38 AC |
| Building Size | 18,000 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1971/2007 |
Unit Amenities
- Air Conditioning
- Wheelchair Accessible (Rooms)
Site Amenities
- Waterfront
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 18 | - | 1,000 |
1 of 1
zoning
| Zoning Code | MFR-20 (Multi-Family Residential - 20 units per acre) |
| MFR-20 (Multi-Family Residential - 20 units per acre) |
-
Roman Fischer -
FPB Investment Properties, Inc.
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Newport Condominiums | 900 S Peninsula Dr
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