30 Bed PadSplit 404 S Ridgewood Avenue
30 - Room - Multi Unit 3 Building Iinvestment + 3 Vacant Parcels
Marketing description
DEAL ALERT -- List Price: $1,650,000 All-Cash / 45-Day Close: • All Furnishings Included (~$100K Value) The Seller Has Done the Negotiation For You. This Is the Number. There Is No Counter. PROPERTY OVERVIEW: This is one of the rarest, immediately cash-flowing real estate portfolio opportunities to hit the Daytona Beach market -- a fully renovated, income-producing trifecta of historic, co-living, and single-family residential assets sitting on 1.5 acres with 164 feet of US-1 frontage in the heart of Downtown Daytona Beach. At $1.5 million all-cash, the buyer is acquiring 16,700 sq-ft of renovated, stabilized income property at under $90 per square foot -- a number that simply does not exist anywhere else in this market for assets of this quality. The portfolio consists of three fully renovated buildings on five contiguous T-2 zoned parcels, generating current income today while offering multiple value-add and development pathways tomorrow. Three additional buildable lots are included in the sale at no additional cost. The seller's bottom line is $1.5 million net -- bring the cash, close in 45 days, and walk away with a furnished, operational real estate business that is already producing. Please see the Full Description Attached.
Investment highlights
- Portfolio offering consisting of an historic Victorian home with two basement apartments, a Co-Living House next door, a single-family home and 3 adjacent parcels.
2. The Victorian is listed on the U.S. National Register of Historic Places. Features 8,000 SF of living space with 11 bed/5 bath and 2 additional basement apartments.
3. The Co-Living House features 13 bedrooms and 4 bathrooms. The home is rented utilizing PadSplit which is an online platform that allows rooms to be rented by the week.
4.The final two items of the portfolio are an adjacent 1,021 SF house located at 315 Live Oak St. and 3 parcels adjacent to the homes totaling .51 acres on Live Oak Avenue and Segrave St.
5.The properties benefit from recent leases with PadSplit - the largest co-living
6. marketplace in the US. PadSplit provides accessible and affordable housing solutions to hardworking individuals who form the backbone of society: teachers, traveling nurses, and other frontline workers.
7. Currently the properties are being utilized as residential rentals; The parcels are zoned T-2 which allows for a wide variety of uses.
8. Comprehensiverenovations have been made to the properties since 2023.Interior designers specializing in hotels were brought in to elevate the home.
9. Perfectly positioned in the heart of downtown Daytona. The assets sit just
10. Minutes from the beach, Daytona Int. Airport, Dayton Int. Speedway, Bethune Cookman Univ. and much more.
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