Crosscreek Apartments
Multifamily | 8 Units | $112,375/unit
Marketing description
The Apartment Brokers proudly present Crosscreek Apartments, an 8-unit multifamily investment located at 601 State Ave, Daytona Beach, Florida. Built in 1973, the property spans 5,194 square feet on a 0.14-acre lot, offering a turnkey opportunity with immediate upside potential through rental increases.
The unit mix includes three 2-bedroom/1-bath units and five 1-bedroom/1-bath units, catering to a wide range of renter profiles. All units are equipped with central air conditioning and separately metered electric, while the landlord is responsible for city water, sewer, and trash services. The property is constructed with block exterior walls on slab foundations, ensuring long-term durability and reduced maintenance.
Strategically located in the heart of Daytona Beach, the property is surrounded by major thoroughfares, employment centers, and coastal amenities, making it a desirable location for tenants and a promising value-add opportunity for investors.
Investment highlights
Well-Located Asset: Situated in the heart of Daytona Beach, close to major roads, job centers, and local amenities.
Unit Mix: Comprises 3 two-bedroom, one-bath units and 5 one-bedroom, one-bath units, totaling 5,194 SF.
Value-Add Potential: Current average rents of $836/unit with market rents exceeding $1,100/unit, offering immediate upside.
Efficient Utility Setup: Electricity is separately metered and paid by tenants.
Solid Construction: Built in 1973 with block exterior walls and slab foundation, providing long-term structural integrity.
Manageable Asset: Easy-to-operate 8-unit complex ideal for both new and experienced investors.
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