Price: $4,300,000 ·
ARV: $5,775,000 ·
Units: 35 ·
Beds: 74 ·
Baths: 35 ·
Sqft: 22,448 ·
Lot Size: 2.58 Acres ·
Year Built: 1984 ·
Parking: Parking Lot ·
Taxes: $34,204 ·
Mockingbird Ln, Edgewater, FL 32132
Comp: $2,280,000 - $6,400,000
Description
Incredible opportunity to acquire a rare 35-unit multifamily complex in the heart of Edgewater, FL, now offered for sale for the first time ever! 💎 Built in 1984 and sitting on a 2.58-acre lot, this 22,448 sqft asset includes 5 updated buildings with new roofs (2021), new exterior doors/windows, and a brand-new maintenance shed 🛠️🌴.
The unit mix features (31) 2BD/1BA units and (4) 3BD/1.5BA units, offering a total of 74 beds across 35 turnkey units — most of which have been renovated in the last decade 🛋️🧼. Currently operating under a USDA 50-year affordability agreement (renewed in 1997), the property generates approx. $23,000/month in rent. Routes to exit this program early may be available, adding even more value potential 💼📈.
With only $30K projected in remaining rehab, and an estimated After Repair Value (ARV) of $5,775,000, this property is primed for strong returns and long-term stability 🧮💸. Perfect for investors seeking scale, stability, and upside in a high-demand rental market close to Florida’s east coast 🌊🏖️.
Comps
1.- 1050 Wayne Ave, New Smyrna Beach, FL 32168
$6,400,000 | Sold 01/24/2025
87 bed / 50 bath | 28,161 sq ft
37 total units. (24) 2-bedroom, 1-bathroom units and (13) 3-bedroom, 2-bathroom units. , Updated. 1980 build. $173,000 per unit.
2.- 2322 S Palmeto Ave, South Daytona, FL 32119
$2,280,000 | Sold 02/16/2024
30 bed / 15 bath | 14,400 sq ft
(15) 2-bedroom, 1.5-bathroom units. Renovated. Sold at $155,000 per unit.
3.- 1890 S Palmetto Ave, South Daytona, FL 32119
$6,000,000 | Sold 08/18/2023
50 bed / 25 bath | 21,412 sq ft
(25) 2-bedroom, 1-bathroom units. 1973 build. 2 buildings. 2 stories each. , .75 acres. $240,000 per unit.
4.- 530 Belltower Ave, Deltona, FL 32725
$4,500,000
48 bed / 40 bath | 24,236 sq ft
20 units
5.- 321 Clifton Ave, Holly Hill, FL 32117
$3,200,000 | Sold 05/16/2025
45 bed / 27 bath | 21,980 sq ft
Sold in 27 days. Worse condition and neighborhood with little parking. Sold quickly for 119k per unit, 27 total units. (18) 2-bedroom, 1-bathroom units; (9) 1-bedroom, 1-bathroom units., .92 acres. 1974 build.
Disclaimer:
Terms and conditions applicable to all transactions:
- Buyers must conduct their own due diligence.
- Properties are sold “AS-IS” without an inspection period.
- Buyer pays all closing costs.
- We sell assignable purchase contracts.
- No written or oral representations are made about the properties.
- A non-refundable earnest deposit is required.
- Proof of funds will be requested.
- We do not offer warranties on the property.
- We are not licensed contractors or appraisers.
- The seller holds an equitable interest in the property.
For properties under contract and for sale:
- Offers are cash or private money only.
- A minimum non-refundable deposit is required.
- Properties are sold “AS-IS” without contingencies.
- Buyers must conduct their own due diligence.
- Buyer pays all closing costs.
- Rehabilitation costs, taxes, and insurance are estimated.
- Open or expired permits are not a title defect.
We appreciate your loyalty and trust.