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$1,475,000

Beds
5
Baths
3.5
sq ft
2,401

3112 S Atlantic Ave, Daytona Beach, FL 32118

3112 S Atlantic Ave

DAYTONA BEACH SHORES, FL 32118

  • 50 days on market
TURN-KEY READY PROPERTY!!! THREE INCOME-PRODUCING RENTAL UNITS & OFFICE SPACE FOR SALE!!! Located in the heart of Daytona Beach Shores, this GC1 - non-conforming residential property underwent a comprehensive transformation in 2023, ensuring every detail was addressed. The entire two buildings have been meticulously renovated from the ground up, featuring new electrical systems, plumbing, flooring, paint, fixtures, cabinets, kitchens, and bathrooms. This property includes approximately 631 sq ft of office space, ideal for various business uses or easily convertible into a fourth rental unit. Currently, there are three short-term income-producing residential rental units: two 2-bedroom, 1-bath units, and one 1-bedroom, 1-bath unit, all meticulously renovated. The backyard has been transformed into a chic hub for relaxation, featuring a cozy fireplace where guests can unwind and enjoy the sunsets. Daytona Beach Shores is located in Volusia County Florida and is celebrated for its thriving business and tourism industry - and with this property zoned GC1 and GC2, there are endless opportunities to build upon the commercial tourism zoning that it offers! This property is just steps away from an array of shops and Publix grocery stores, restaurants, businesses, beaches, entertainment venues, and parks and attractions such as McElroy Park where you can exercise in the open gym, play pickleball, enjoy the dog park, or simply relax and take in the park's beauty. The property is also a short drive from the Daytona International Speedway, Convention Center, ballpark, and the new 30 million. Riverfront Esplanade, which spans a mile of Intracoastal waterway and is considered a premier gathering space and botanical garden. The vibrant community offers endless opportunities for both residents and visitors, making this a prime investment property.

Details

Property type

Single Family Residence

Est. home value

$609,811

Lot size

7,500 sq ft

Price per sq ft

$615

Year built

1949

Annual property taxes

$5,922.44

Price History

07/20/2024
StellarMLS

StellarMLS #V4937523

Listed
$1,475,000
+22.92%
04/05/2024
Daytona

Daytona #1118265

Removed
$1,200,000
01/15/2024
Daytona

Daytona #1118265

Listed
$1,200,000

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$947,284
Asking price
$1,475,000
Closing costs (~8% of asking)
-$118,000
Est. remaining loan balance
-$409,716
Cash to seller
$947,284

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Jmj Financial Group

Loan start date

May 2022

Original loan amount

$425,000

Est. remaining balance

$409,716

Interest rate

4.72%

Loan type

New Conventional, 30 year

Seller

Eric L Gibbs

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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House

108 Broad Ave, Daytona Beach, FL 32118

Status: Active

Tomo last checked: 09/07/2024 at 10:10 PM

Listing updated: 07/26/2024 at 3:42 PM

Listed by: Didiayer Snyder, OCEANS LUXURY REALTY FULL SVC Phone #: (386) 236-3700

MLS: StellarMLS #V4937523

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