The Wellington Apartments 19 Units
Multifamily | 19 Units
Marketing description
The Wellington Apartments, located at 124 Live Oak Ave, Daytona Beach, FL 32114, is a historic three-story building constructed in 1934. This 19-unit multifamily property offers a diverse mix of residences, comprising 6 one-bedroom units and 13 studio apartments. Each unit is thoughtfully designed to provide comfortable living spaces, featuring essential appliances such as ranges and refrigerators. Residents also benefit from on-site laundry facilities, ample parking, and well-maintained, park-like grounds.
Situated in the heart of Daytona Beach, The Wellington Apartments offer convenient access to a vibrant array of attractions and amenities. Daytona Beach is renowned for its 23 miles of pristine Atlantic coastline, where residents and visitors can enjoy sunbathing, swimming, and various water sports.
For motorsports enthusiasts, the world-famous Daytona International Speedway hosts numerous events, including the iconic Daytona 500.
The Daytona Beach Boardwalk and Pier provide a lively atmosphere with amusements, shops, and eateries, perfect for leisurely strolls and entertainment.
Cultural and educational experiences abound at the Museum of Arts and Sciences, which houses an extensive collection of art, science exhibits, and historical artifacts.
Nature lovers can explore the nearby Tiger Bay State Forest, offering opportunities for hiking, wildlife observation, and enjoying Florida's natural beauty.
The Wellington Apartments' prime location ensures residents have easy access to a variety of dining, shopping, and recreational options, making it an ideal place to experience the best of Daytona Beach living.
THIS IS BEFORE SOME OF THE REMODELS DUE TO LONG TERM TENANTS-For a visual tour and more information about The Wellington Apartments, you can watch the following video:
FOR SALE - The Wellington Apts - 19 Units - Daytona Beach
Investment highlights
Investment Highlights – The Wellington Apartments
124 Live Oak Avenue, Daytona Beach, FL 32114
Premier Investment Opportunity
19-Unit Multifamily Property in the heart of Daytona Beach, a growing rental market with strong demand.
Well-maintained historic building offering a mix of 1-bedroom units and studio apartments.
Strategic location near major attractions, employment centers, and the Daytona Beach coastline.
Strong Rental Income & Occupancy
Current Monthly Rent Roll: Approximately $20,527.50 with potential for rental increases.
Annual Gross Potential Revenue: ~$246,330+ based on current rents.
Diverse Lease Structures: Includes long-term leases, month-to-month agreements, and upcoming lease renewals.
Opportunity for Rental Growth: Some units are below market rent, presenting an opportunity for increased cash flow.
Vacancy Opportunity: One vacant unit ready to be leased at market rent.
Unit Mix & Rental Rates
1-Bedroom Units (5 Units)
Rents range from $1,077.50 to $1,280.00
Market rate growth opportunity, with some renewals already reflecting higher rents.
Studio Apartments (13 Units)
Rents range from $955.00 to $1,335.00
Strong tenant retention with several long-term tenants.
Vacant Unit (1 Unit)
Lease-up opportunity at market rate.
Excellent Location & Market Growth
Minutes from Daytona Beach, Boardwalk, and International Speedway – High-demand rental area.
Strong Economic Growth: Close proximity to major employers, universities, and retail centers.
Tourism & Job Market: Thriving economy fueled by tourism, education, and healthcare industries.
Nearby Higher Education: Embry-Riddle Aeronautical University and Daytona State College provide a steady renter pool.
Value-Add Potential
Increase Rents to Market Levels: Some units currently below market value.
Reduce Vacancy Rate: Lease the vacant unit for immediate revenue boost.
Upgrade Opportunities: Minor renovations or cosmetic upgrades could justify further rental increases.
Utility & Expense Optimization: Potential for efficiency improvements to maximize NOI.
Conclusion
The Wellington Apartments presents an excellent opportunity for investors seeking stable cash flow, rental upside, and long-term appreciation in one of Florida’s most sought-after rental markets. With a high occupancy rate, rental upside, and strong demand, this asset is a prime investment in Daytona Beach.
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