Presenting an exceptional opportunity to acquire a stabilized, income-producing multifamily asset in the heart of Daytona Beach. The property comprises nine (9) residential units, with eight units currently occupied, generating a net operating income (NOI) of $143,142 and a strong 10.22 cap rate. A majority of tenants are supported through federal housing, providing reliable, government-backed rental income and consistent cash flow. Strategically positioned just minutes from Daytona Beach International Airport, Daytona International Speedway, and the city’s revitalized downtown corridor, the property benefits from high visibility and proximity to key employment, education, and transportation hubs. This central location supports long-term tenant demand and ongoing appreciation potential in one of Florida’s fastest-growing coastal markets. Enhancing the offering are two adjoining vacant parcels — 224 Arlington Ave (0.10 acre) and 230 Arlington Ave (0.14 acre) — included in the sale. Together, these lots present an additional 0.24 acres of development potential, ideal for future multifamily expansion, parking facilities, or complementary commercial use. This asset represents a rare opportunity to secure a well-performing investment with immediate income stability and tangible growth upside. Investors seeking a balance of dependable returns and long-term capital appreciation will find 545 N Ridgewood Ave an exceptional addition to any portfolio.

Listing courtesy of OUTLET REALTY 4075803467



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Last checked: 2025-10-27 09:27 PM EDT