Palmetto Apartments
Guaranteed Section 8 Income - Monthly RR of over $28,000
Marketing description
Palmetto Apartments presents an exceptional opportunity to acquire a
stabilized, income-producing asset in the heart of Daytona Beach. The
property consists of 20 total units, with 7 recently converted to spacious 2-
bedroom, 1-bath layouts and the remaining 13 units configured as 1-
bedroom, 1-bath apartments. Constructed of durable concrete block, the
buildings offer long-term resilience and low maintenance requirements. Nine
units are leased through the Section 8 housing program, providing a reliable
monthly rent of $1,544 per unit, while the remaining units are rented at
market rates. Tenants pay their own electric, while ownership covers water
service.
Investment highlights
20 Total Units – Mix of 7 renovated 2BR/1BA units and 13 1BR/1BA units
Section 8 Income Security – Section 8 income up to $1,544/month,
providing reliable guaranteed rent
Roof Replaced in 2021 – Major capital improvement reducing near-term
maintenance risk
Concrete Block Construction – Durable, low-maintenance buildings built
to last
Tenant-Paid Electric – Owner responsible only for water service, lowering
operating expenses
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