What is the asking price for Daytona Multifamily Portfolio?

The lease rate for space here is Contact for pricing.

What is the total size of Daytona Multifamily Portfolio?

The property has a total square footage of 6,580 SF.

How many parking spaces are available at Daytona Multifamily Portfolio?

Parking information for the property isn't currently listed. However, other nearby parking options include 3rd Avenue Lot, located 0.45 miles away , and Bay Street Lot, which is 0.53 miles away.

116-128 Michigan Avenue, Daytona Beach, FL 32114

For Sale $1,200,000
Property Type Multi-Family
Property Size 6,580 SF
Units 14
Date Updated Jun 30, 2026

Description

Nestled in the heart of Daytona Beach, the area surrounding the property offers an enticing blend of coastal charm and urban convenience. Investors in the Multifamily/Low-Rise/Garden sector will appreciate the nearby attractions, such as the iconic Daytona Beach Boardwalk, renowned for its vibrant entertainment and dining options. Just a short distance away, the scenic sun-soaked shores of Daytona Beach beckon residents and visitors alike, while the bustling local arts and culture scene provides an enriching community atmosphere. With its dynamic blend of leisure, culture, and commerce, the Daytona Multifamily Portfolio presents a prime opportunity for investors seeking to capitalize on this flourishing coastal locale.A rare opportunity to acquire a fully-occupied, 13-unit multifamily portfolio in the heart of Downtown Daytona Beach. Spanning five addresses across Michigan Avenue and N Beach Street, this portfolio delivers immediate income at a compelling 9.8% cap rate — with meaningful upside through unit renovations and rental rate increases. Positioned at the center of one of Daytona Beach's most active redevelopment corridors, the properties benefit from proximity to transformative projects redefining the city's riverfront. The surrounding area is experiencing substantial institutional investment, bringing new amenities, employers, and residents that support continued rent growth for years to come.

Highlights

100% occupancy — all 13 units are tenant-occupied, providing immediate day-one cash flow with no lease-up risk.
400 Beach luxury development — adjacent to the 304-unit luxury apartment community at 400 Beach, validating strong rental demand and supporting market rent growth.
9.8% cap rate — strong current yield with proven, stabilized income from a fully-occupied portfolio across five contiguous addresses.
Jackie Robinson Ballpark — proximity to a historic, active venue that drives foot traffic, local commerce, and neighborhood vitality throughout the year.
Major employer anchor — Brown & Brown Insurance's global headquarters provides a substantial base of high-income professionals in the immediate trade area.
Portfolio scale — five-address assemblage across Michigan Ave and N Beach St offers operational efficiencies and long-term redevelopment optionality.
Riverfront Esplanade — steps from the new Daytona Beach Riverfront Esplanade, a major public infrastructure investment enhancing walkability and neighborhood appeal.
Seller Financing available
Value-add upside — renovate units at turnover to capture significant rental rate increases in a strengthening downtown submarket.