1133 RIDGEWOOD
SP Multifamily Group of Marcus & Millichap is pleased to present qualified investors with the opportunity to acquire 1133 Ridgewood in Daytona Beach, FL. 1133 Ridgewood is a 16-unit multifamily asset that was built in 1913, and is located just ten minutes from the World Famous Daytona Beach and the Daytona Beach International Airport. The property consists of fourteen one-bedroom units and two two-bedroom units. Upon building an on-site laundry facility, completing unit interior renovations and exterior painting, an investor is able to increase rents by 29% and net operating income by 49%.
Property tours are by appointment only. Please contact one of the listing brokers below to schedule tours.
16
UNITS
9,330
SQFT
1913
YEAR BUILT
PRICED AT MARKET BID
VITAL PROPERTY DATA
PROPERTY ADDRESS: 1133-1139 South Ridgewood Avenue
NUMBER OF UNITS: 16 Units
RENTABLE SQUARE FOOT: 9,330 SF
AVERAGE UNIT SIZE: 583 SF
NUMBER OF BUILDINGS: (4) Residential
LOT SIZE: 1.60 Acres +/-
FINANCING: Free and Clear
GREAT VALUE ADD OPPORTUNITY IN A DESIRABLE MARKET
Ability To Increase Rents By 29% By Adding Washer/Dryer Facility And Implementing Interior Renovation Plan.
All Roofs Were Replaced in 2014
Buildings Are Master Metered For Gas And Water. Units Individually Metered For Electric.
Located On Ridgewood Avenue, Which Boasts A Traffic Count Of 30,500 Vehicles Per Day
Located Within Three Miles From Two Major Universities; Embry Riddle Aeronautical University (1,600+ Jobs) & Bethune Cookman University (750 Jobs)
Less Than 10 Miles From Major Employers (Brown & Brown Insurance, TopBuild, AdventHealth Daytona Beach, Halifax Health Medical Center, NASCAR)
CENTRALIZED LOCATION TO MAJOR EMPLOYMENT BASES
6-Minutes to Embry-Riddle Aeronautical University (1,600+ Employees)
6-Minutes to Brown & Brown Insurance Headquarters (600+ Employees)
9-Minutes to Daytona State College (1,480+ Employees)
10-Minutes to Halifax Hospital System (4,000+ Employees)
10-Minutes to Daytona Beach International Airport (2,380+ Employees)
10-Minutes to Daytona Beach Main Street Pier
11-Minutes to Florida Health Care Plans (877 Employees)
12-Minutes to NASCAR Headquarters (760 Employees)
12-Minutes to ONE Daytona Entertainment & Shopping District
19-Minutes to AdventHealth Daytona Beach (5,500+ Employees)
DAYTONA BEACH: AN EXPANDING ECONOMY
#6 Fastest Growing Places 2020 (U.S. News & World Report)
#12 Best Places to Live in Florida 2020 (U.S. News & World Report)
#15 Best Places to Retire 2020 (U.S. News & World Report)
#74 Best Places to Live in the US 2020 (U.S. News & World Report)
12.3% Population Growth (2010-2018)
Deltona-Daytona Beach – Ormond Beach MSA Population of 553,284
DEAL TEAM CONTACTS
Jhamil Moore
Investment Associate
O. (407) 557-3830
Jhamil.Moore@marcusmillichap.com
Benjamin Skinner
Associate Director | Senior Investment Associate
O. (407) 557-3889
Benjamin.Skinner@marcusmillichap.com
Matthew Prozzillo
Associate Director | Senior Investment Associate
O. (407) 557-3888
Matthew.Prozzillo@marcusmillichap.com
Contact an Agent Listed Above to Schedule Property Tours