The Cushman & Wakefield Florida Multifamily Advisory Group is pleased to present the exclusive listing of Whispering Oaks and Southern Villas, 169 separately parceled townhomes residing in two adjacent communities in a centralized location of Daytona Beach, FL. The property presents a unique opportunity to acquire 93% of the aggregate of both townhome communities substantially below replacement cost and approximately 30% below where individual retail townhome comps are trading today. The property has the largest floor plans in the submarket at 1,237 SF with 72% two-bedroom and 28% three-bedrooms within the community. The units are largely classic in nature offering a significant value-add opportunity to renovate 100% of the units and achieve rent premiums upwards of $250/unit/mo.
The property is ideally located in the center of Daytona Beach, FL nearby substantial employment and retail and entertainment venues such as the Halifax Health system (4,300 employees), Embry Riddle Aeronautical University (2,000 employees and 8,700 students), the Daytona International Airport, the Daytona International Speedway and minutes from Daytona’s “World Famous” beaches. The Daytona Beach region has seen a surge of expansions in manufacturing, logistics, aerospace and healthcare as the market attracts residents to its coastal affordable cost of living while being positioned nearby one of the largest crossroads in Florida of Interstate-95 and Insterstate-4.
...