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$510,993

Est. payment - /mo

5 Beds

4 Baths

2,584 SqFt

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Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active

Purchase Type For Sale

Square Footage 2,584 sqft

Price per Sqft $197

MLS Listing ID 1231493

Bedrooms 5

Full Baths 4

HOA Y/N No

Year Built 1935

Annual Tax Amount $5,552

Acres 0.15

Lot Dimensions 75.0 ft x 90.0 ft

Property Sub-Type Triplex

Source Daytona Beach Area Association of REALTORS®

Property Description

INCOME-PRODUCING TRIPLEX + ADJOINING VACANT LOT + ADDITIONAL INCOME POTENTIAL! Add 532 Magnolia Ave to your rental portfolio and start collecting income from day one. This fully furnished, three-unit investment property is currently generating $3,425/month or $41,100/year in gross rental income and is being offered at $510,993. Based on current rents and seller-provided annual property taxes of $5,330.48, the asking price represents an approximate 7 percent cap rate before other operating expenses—with additional upside potential. The property offers a desirable unit mix: Unit 1 is approximately 440 SF with 1 bedroom/1 bathroom, living room and kitchen. Unit 2 is approximately 560 SF with 1 bedroom/1 bathroom, living room, kitchen, dining room and balcony. Unit 3, the largest residence at approximately 1,154 SF, features 3 bedrooms/2 bathrooms, living room, kitchen, dining room and porch. The investment opportunity extends beyond the three existing rental units. The sale includes the adjoining vacant lot at 146 Marion St., PID 5339-21-02-0051, creating approximately 75' x 150' of combined property and providing substantial additional space for parking, storage and potential future opportunities. Buyer to verify zoning, permitted uses and development potential. There's also a 1-car garage with potential to generate additional rental income, providing another opportunity to increase the property's return. Investor-friendly features include three separate electric meters, upgraded electrical service in each unit, 2016 roof, newer central HVAC serving the main residence, PTAC heating and cooling in the two 1-bedroom units and hardwood flooring. Located near colleges, shopping, employment and Daytona Beach amenities, this property combines existing cash flow, multiple income streams, additional land and value-add potential in one acquisition. 3 Units + $41,100 Current Annual Gross Rent + Garage Income Potential + Adjoining Vacant Lot = One Unique Investment Opportunity. All rental amounts, measurements, expenses, lot dimensions, zoning, permitted uses and development potential to be independently verified by buyer. Approximate cap rate is calculated using current gross rental income less seller-provided property taxes only and does not include insurance, utilities, maintenance, vacancy, reserves or other operating expenses.

Location

State FL

County Volusia

Area 32 - Daytona Beville To Isb, E Of 95

Direction Head East to W International Speedway Blvd Turn right to Marion St, House in the right corner of Magnolia Ave and Marion St

Region Daytona Beach

City Region Daytona Beach

Rooms

Primary Bedroom Level Two

Interior

Heating Central

Cooling Central Air, Split System

Flooring Carpet, Tile, Wood, Other

Appliance Refrigerator, Electric Range

Heat Source Central

Exterior

Exterior Feature Balcony

Parking Features Garage

Garage Spaces 1.0

Fence Full, Wood

Utilities Available Electricity Connected, Sewer Connected, Water Connected

View Y/N No

Roof Type Shingle

Road Frontage City Street

Total Parking Spaces 1

Garage Yes

Building

Lot Description Corner Lot

Story 2

Sewer Public Sewer

Water Public

Level or Stories 2

New Construction No

Others

Tax ID 5339-21-02-0050

Acceptable Financing Cash, Conventional, FHA, VA Loan

Listing Terms Cash, Conventional, FHA, VA Loan

Special Listing Condition Standard

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Listed by Cheryl Gray • Oceans Luxury Realty Full Service LLC

Schools and Properties Nearby

Learn More About LPT Realty

Robyn Stahl

+1(386) 681-7206

532 Magnolia AVE Daytona Beach, FL 32114