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Daytona Boarding House - Availability Details

716 Orange Ave, Daytona Beach, FL 32114

  • For Sale $450,000
  • City Daytona Beach
  • Neighborhood Daytona Beach
  • Zip Code 32114
  • Market North Central Florida
  • Property Type Multi-Family
  • Property Size 3,446 Sqft
  • Lot Size 0.36 Acre
  • Year Built 1967
  • Year Renovated 1985
  • Date Updated 12 May, 2021
Volusia County and the Greater Daytona Beach Area have become regional growth magnets due to their low cost of living, proximity to the Atlantic Ocean, varieties of transport and strategic economic developments. Major educational institutions in the area offer high-level education, preparing students for success in highly skilled workforces. Tourism has always been a central component of the “Fun Coast’s” economy with an estimated eight million visitors each year. Tourists are attracted to the 47 miles of beautiful ocean beaches along with numerous highly-advertised destinations. The Daytona Beach-Deltona-Ormond Beach MSA, with a population of approximately 600,000 residents, has a labor force of nearly 260,000 civilian laborers. The number of civilians in the labor force is expected to increase by 1.7 percent over the next three years. This employment growth will attribute to an average of 6.2 percent unemployment rate. Relatively low unemployment rates will help to drive wage growth, which is expected to average 4.6 percent growth through 2017. NEW DEVELOPMENTS The Daytona community continues to grow with its convenient access to larger markets while still maintaining a small town ambiance. Beautiful views of the Halifax River as well as the city’s business corridors, well-maintained neighborhoods and scenic parks are just a few of the many reasons that Daytona is thriving. DAYTONA Rising is a $400 million reimagining of the Daytona International Speedway. The project was completed in 2016 just in time for the 2016 Rolex 24 at Daytona and DAYTONA 500. The transformation includes: • Wider/more comfortable seats • Three times as many concession stands • Twice as many restrooms • Over 60 luxury suites with track side views • Revamped hospitality for corporate guests TANGER OUTLETS - Daytona Beach is located just under seven miles from South Daytona Towers just off Interstate 95.
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Contacts

broker

Joe LaFleur

100Units.com

(407) 504-1728

Highlights

  • Year 1 Cap Rate 10%
  • Year 1 Gross Income $76,800
  • Value Add Opportunity in Rental Upside
  • Freshly Painted Exterior
  • New Asphalt on the Parking Lot

Attachments

Contact Listing Broker

broker

Joe LaFleur

100Units.com

(407) 504-1728

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