🏠🤑 Beachfront 10-Unit Multifamily/Motel in Ormond Beach! ➡️🏡

Description

Discover a rare opportunity in Ormond Beach with this 10-unit multifamily/motel property.
Situated in an area allowing for 22 luxury beachfront condominiums, this oceanfront property offers unique potential at an attractive price point.
Prime Location: Close to Ormond Beach’s sandy shores, this property is well-positioned for future development.
Development Potential: Zoning permits the construction of multifamily, making this property a lucrative investment.
Oceanfront Access: Enjoy direct access to the beach and stunning ocean views from every unit.
Investment Potential: With demand for upscale beachfront properties rising, this property offers a promising investment opportunity.
Current Cashflow: Throughout the redevelopment, you can count on current cashflow of the existing property through phase 1.
Growing Market: Ormond Beach is showing potential for growth, making this property a strategic investment.
Versatile Usage: Whether as a rental property or for redevelopment, this property offers diverse revenue streams.
Proven Success: With a history as a rental property, this property has a solid foundation for future success.
Seize this unique opportunity to invest in Ormond Beach’s future. Contact us today for more information.
Rehabbed in 2023.
Details:

CAP Rate:
1.37%
NOI: $42,325
Pro-Forma CAP Rate: 5.74%
Pro-Forma NOI: $177,925