Property Description

LOCATION. LOCATION. LOCATION.Three separate residences across two buildings bring together beachside living, income potential, and flexibility at 205 N Wild Olive Ave. Directly across from Daytona Lagoon Waterpark and just steps from the Atlantic Ocean, the property is approximately half a block from the Ocean Center and Peabody Auditorium, and close to dining, entertainment, and other beachside attractions. Daytona International Speedway is approximately 4.7 miles away.The property offers three 2-bedroom, 2-bath residences. The front home is a single-story coastal cottage of approximately 1,100 square feet. Taken nearly to the studs and rebuilt, it combines the character of the original home with updated systems, appliances, finishes, a new roof, and Hardi-Board siding. It includes two bedrooms, two full bathrooms, a decorative fireplace, and a flexible bonus room that could serve as an office, media room, or additional sleeping area.Behind the cottage, a newly constructed building of approximately 1,370 square feet contains two more residences. The ground-level unit features 2 bedrooms, 2 bathrooms, and 10-foot ceilings. Upstairs, the second 2-bedroom, 2-bath residence has 12-foot ceilings. Both were designed with comfort and rental appeal in mind.**Buyer-Selected Finishing Options**The seller, who is also the builder, is offering buyers the opportunity to personalize select finishing details in the front cottage. Options include remaining trim work, additional cabinets and hardware, a kitchen hood, and a choice of interior colors.The buyer may also choose to have backyard pavers added before closing, extending from the rear of the cottage to the laundry shed and around the rear duplex. The seller is also offering to complete the fence enclosing the backyard before closing if preferred.**Updates and Features**The property has been extensively updated with new plumbing, electrical, roofing, appliances, and major systems. Interior wall insulation adds efficiency and sound separation. An outdoor laundry facility provides an oversized washer and dryer area for tenants. Modern coastal finishes and limited anticipated maintenance add to the property's appeal.The projected rents support an estimated cap-rate scenario exceeding 7% when all three residences are rented. An owner-occupant renting the other two residences has an estimated cap-rate scenario above 4%. Buyers can consider short-term, seasonal, or longer-term rental strategies, subject to applicable requirements.For buyers seeking a beachside home with income potential, 205 N Wild Olive Ave offers three residences, a mix of renovated and newly constructed living space, and convenient access to Daytona Beach attractions. The property is not in a designated flood zone.