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1217-1221 Kennedy Rd
Daytona Beach, FL 32117
Twin Oaks (UNDER CONTRACT) · Multifamily Property For Sale
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24 Units
Property Facts
| No. Units | 24 | Lot Size | 0.88 AC |
| Property Type | Multifamily | Building Size | 18,900 SF |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Low-Rise | No. Stories | 2 |
| Building Class | C | Year Built | 1973 |
| Zoning | SFR | ||
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.88 AC |
| Building Size | 18,900 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1973 |
| Zoning | SFR |
About 1217-1221 KENNEDY RD , DAYTONA BEACH, FL 32117
Twin Oaks Apartments is a 24-unit multifamily community located in Daytona Beach, Florida. The community is positioned less than four miles away from Interstate 95 and two miles from U.S. Highway 1. Twin Oaks is situated in the fourth fastest growing MSA according for Forbes (2017) and the sixth highest in rent growth nationwide. The property has significant upside potential by implementing a utility bill back system or RUBS to recapture a majority of the utility expense over the next year with every new lease. The new owner has ability to achieve over a 16% cash-on-cash return by Year One by only increasing market rents 3% and implementing utility recapture which has already been accomplished by several of competing properties nearby.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 675 |
| 2+1 | 18 | - | 825 |
Property Taxes
| Parcel Number | 4244-01-20-0081 | Improvements Assessment | $1,238,979 |
| Land Assessment | $480,000 | Total Assessment | $1,718,979 |
Property Taxes
Parcel Number
4244-01-20-0081
Land Assessment
$480,000
Improvements Assessment
$1,238,979
Total Assessment
$1,718,979
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