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516 PHOENIX AVENUE, Daytona Beach, FL, 32118 | $650,000
Income-Producing 6-Unit Apartment Building Just Steps from Daytona Beach! Prime Location – Walk to Ocean, Bridge & Boardwalk | $8, 100 Potential Monthly Income | Cash Buyers Only | This is your opportunity to own a rarely available 6-unit multifamily property in a prime coastal location — less than one block from Daytona Beach and just one block from the new Veterans Memorial Bridge (Orange Ave). The vibrant Daytona Beach Boardwalk is only a mile away, offering easy access to top dining, entertainment, and attractions.
Key Features:
• Location, Location, Location:
• Unbeatable Location:
• Less than a block from Daytona Beach
• 1 block from the newly built Veterans Memorial Bridge (Orange Ave Bridge)
• 1 mile from the famous Daytona Beach Boardwalk
• Enjoy the beach and breathtaking ocean views just steps away
This is your opportunity to own a rarely available 6-unit multifamily property in a prime coastal location — less than one block from Daytona Beach and just one block from the new Veterans Memorial Bridge (Orange Ave). The vibrant Daytona Beach Boardwalk is only a mile away, offering easy access to top dining, entertainment, and attractions.
Property Highlights:
• 6 Units | 9 Beds | 6 Baths
• 5 of 6 units currently rented
• Coin-operated shared laundry on-site
• Mixed unit types including:
o One 2 Bed / 1 Bath with full layout
o Two 2 Bed / 1 Bath units with two entrances (no living rooms – ideal for roommates or flexible rentals)
o Two studio units
o One 1 Bed / 1 Bath unit
?? Financial Overview:
• Gross potential monthly income: $8, 100
• Tenants pay their own electric
• No landlord cost for trash or common electricity
• Owner pays approx. $350/month for water & gas (shared hot water heater)
??? Condition & Opportunity:
• Two units fully renovated
• Four units need updating
• Property has its own parking lot with 8 spaces
• Property was tented in 2020 for termites
• New roof needed (no current leaks)
• Ideal for investors or contractors — priced with improvements in mind
• Cash buyers only due to condition
Location Perks:
• Less than 1 block to Daytona Beach
• 1 block from Veterans Memorial Bridge
• 1 mile to Daytona Beach Boardwalk
• Ocean views just a minute's walk away
Don't miss this excellent chance to invest in an appreciating coastal market with huge upside potential!
Features
- Bedrooms: 7
- Units: 6
- Lot Size: 81 x 80
- Laundry: Common Area
- Year Built: 1935
- Heating: Electric
- Cooling: Mini-Split Unit(s)
- Approx Sq. Feet: 2,888
- Acreage: 0.15
- Lot Size: 81 x 80
- Est. Taxes: $5,924
- MLS#: O6296060
- Days on Market: 26 days
- Website: https://www.raveis.com
/prop/O6296060/516phoenixavenue_daytonabeach_fl?source=qrflyer
Listing courtesy of EMPIRE NETWORK REALTY Phone: 407-440-3798
William Raveis Family of Services
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
Customer Service
888.699.8876
Contact@raveis.com
Our family of companies offer our clients a new level of full-service real estate. We shall:
- Market your home to realize a quick sale at the best possible price
- Place up to 20+ photos of your home on our website, raveis.com, which receives over 1 billion hits per year
- Provide frequent communication and tracking reports showing the Internet views your home received on raveis.com
- Showcase your home on raveis.com with a larger and more prominent format
- Give you the full resources and strength of William Raveis Real Estate, Mortgage & Insurance and our cutting-edge technology
To learn more about our credentials, visit raveis.com today.
Melissa CohnRVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 16953
917.838.7300
Melissa.Cohn@raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
Robert ReadeRegional SVP Insurance Sales, William Raveis Insurance
860.690.5052
Robert.Reade@raveis.com
Our Insurance Division:
- Will Provide a home insurance quote within 24 hours
- Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
- Partners with major insurance companies including Chubb, Kemper Unitrin, The Hartford, Progressive,
Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
516 PHOENIX AVENUE, Daytona Beach, FL, 32118
$650,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Melissa Cohn
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
|
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
|---|---|---|---|
| Loan Amount | $520,000 | $520,000 | $520,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 6.500% | 6.990% | 5.875% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 7.095% | 7.141% | 6.152% |
| Monthly Tax Payment | $494 | $494 | $494 |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $3,287 | $3,456 | $4,353 |
| Total Monthly Payment | $3,873 | $4,042 | $4,939 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
FL Mortgage Lender MLD1388