ENTRY FEE: $275,000 ·
ARV: $2,250,000 ·
Units: 19 ·
Beds: 19 ·
Baths: 19 ·
Sqft: 13,076 ·
Lot Size: 2 Acres ·
Year Built: 1934 ·
Parking: Lot Parking ·
Comp: $-
Live Oak Ave, Daytona Beach, FL 32114
Description
🏢 19-Unit Historic Multifamily 💸 Prime Daytona Beach Investment 🌴🌊Welcome to The Wellington Apartments, a rare opportunity to own a well-maintained 19-unit multifamily property in the heart of Daytona Beach! Built in 1934, this charming 3-story building sits on a 2-acre lot and features a strong unit mix of 6 one-bedroom apartments and 13 studio units, totaling 9,000 sqft of interior space. 💼💰
Each unit includes essential appliances like a refrigerator, range, microwave, and freezer. The property also offers on-site laundry, ample parking (off-street + on-street), and lush, park-like grounds — creating a desirable living environment for tenants. 🌳🚗
📍 Location Highlights:
Just minutes from:
🏖️ Daytona Beach’s 23 miles of Atlantic coastline
🏁 Daytona International Speedway (Home of the Daytona 500)
🎡 The lively Boardwalk & Pier
🎨 Museum of Arts & Sciences
🌲 Tiger Bay State Forest
🏫 Embry-Riddle University & Daytona State College
💸 Financials:
• Monthly Rent Roll: ~$20,767
• Annual Gross Potential Revenue: ~$263,730
• Current Studio Rents: $1,000 – $1,335. MARKET RENTS – $1,210-$1,335
• 1-Bedroom Rents: $1,077.50 – $1,650. MARKET RENTS – $1,350-$1,650
• 1 Vacant Unit: Lease-up opportunity at market rent
• Diverse lease structures: Mix of long-term, M2M, and renewals
• Opportunity for rental increases (some units below market)
• 1 Year Projected Income – $291,424 . NOI – $211,889 .CAP – 9.6%
• PRO FORMA Gross – $312,411. NOI – $232,876. CAP – 10.59%
• Subject to available. Seller currently has a loan in place at $1,200,000 at 10%, $475,0000 at 10% I/O, and willing to seller finance $100,000 for 10% I/O.
• Only $275,000 down for buyer. Total purchase price $2,050,000.
• Upon refinance, would qualify for conventional financing
📈 Value-Add Upside:
• Multiple units currently below market rent
• Minor renovations could yield significant NOI growth
• Strong demand in a fast-growing rental corridor
• Proven history of tenant retention + area appreciation
💡 With historic charm, modern potential, and a premier location near world-class attractions, schools, and job centers, The Wellington Apartments is positioned to deliver stable income + long-term equity upside.
📊 Whether you’re expanding your multifamily portfolio or entering a booming Florida market, this asset is a smart, cash-flowing investment with room to grow!
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.