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125 S Orchard St
Ormond Beach, FL 32174
Orchard Garden Apts 9.43% Pro, 6.21% Actual · Multifamily Property For Sale
·
30 Units
Property Facts
| No. Units | 30 | Lot Size | 2.86 AC |
| Property Type | Multifamily | Building Size | 32,010 SF |
| Property Subtype | Apartment | Average Occupancy | 100% |
| Apartment Style | Low-Rise | No. Stories | 2 |
| Building Class | C | Year Built | 1974 |
| Zoning | 13R5 | ||
| No. Units | 30 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.86 AC |
| Building Size | 32,010 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1974 |
| Zoning | 13R5 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Range
- Tub/Shower
Site Amenities
- Laundry Facilities
About 125 S ORCHARD ST , ORMOND BEACH, FL 32174
Located in a highly desirable area, complexes in Ormond Beach rarely come on the market. Well located in the center of Ormond Beach, Orchard Garden Apartments is a gem with strong potential. Concrete block construction with over $300,000 of capital improvements in the last three years including new roofs on the three apartment buildings and replacement of more than half of the HVAC systems. Partially renovated with the replacement of more than half of the kitchen cabinets and paint and flooring in some units. With cosmetic improvements and interior upgrades such as dishwashers, rents could be substantially increased. As demonstrated by rentometer.com and apartments.com, the current rents are $250 - $350 below the average market rents, which would provide an 8.78% CAP. Well located approximately two blocks off the retail corridor of Granada Blvd, the complex is close to a grocery store, numerous shops, an under construction Wawa, and under construction new grocery store. Additionally, it has excess, unused land for which multiple additional revenue streams may be possible.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | - | - |
| 2+1 | 20 | - | - |
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,435,737 | |
| Land Assessment | $624,510 | Total Assessment | $2,060,247 |
Property Taxes
