4 Beds
3 Baths
2,824 SqFt
4 Beds
3 Baths
2,824 SqFt
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 2,824 sqft
Price per Sqft $262
Subdivision Andrews
MLS Listing ID NS1088689
Bedrooms 4
Full Baths 3
Construction Status Completed
HOA Y/N No
Year Built 1913
Annual Tax Amount $4,590
Lot Size 7,405 Sqft
Acres 0.17
Lot Dimensions 50 x 150
Property Sub-Type Single Family Residence
Source Stellar MLS
Property Description
Or perhaps you're looking for a charming downtown residence with an income-producing cottage?
Rare opportunity to acquire a fully leased multifamily property located in the highly desirable B&B District of Historic Downtown New Smyrna Beach, also within the Historic and Arts Overlay Districts. Whether you're seeking a turn-key investment, a 1031 Exchange property, or a future owner-occupied residence with rental income, this unique property offers exceptional flexibility and long-term value.
Ideally situated just a short walk from Canal Street's popular shops, restaurants, art galleries, breweries, and year-round entertainment, this property offers the walkable downtown lifestyle that tenants love and that continues to drive strong rental demand.
The property features a charming two-story main residence with two separate apartments, plus a detached cottage:
Lower Unit: Spacious 2-bedroom, 1-bath apartment featuring a fireplace and private laundry.
Upper Unit: 1-bedroom, 1-bath apartment with a private rear entrance and its own laundry facilities
Approximately 800 square feet with loft, private laundry, and excellent rental flexibility.
All three units are currently occupied by long-term tenants, providing immediate, stable cash flow from day one. Current gross rental income is approximately $63,000 annually.
Property Highlights, Three fully leased residential rental units, Multi-family zoning
Located within the Historic and Arts Overlay District, Prime Downtown New Smyrna Beach location
Easy walk to Canal Street shopping, dining, galleries, and entertainment
Main residence roof approximately 8 years old, Detached cottage roof replaced in 2026
Strong long-term rental history with excellent tenant demand
Owner currently pays all utilities, including electric, water, natural gas for the water heaters, and the gas range, as the property is serviced by one electric meter and one water meter.
With an estimated 6.5 capitalization rate, this property presents an outstanding opportunity for investors seeking dependable income, excellent location, and long-term appreciation potential. Properties like this—fully leased, income-producing multifamily investments in Historic Downtown New Smyrna Beach—rarely become available. Schedule your private showing today.
Location
State FL
County Volusia
Community Andrews
Area 32168 - New Smyrna Beach
Zoning R5
Rooms
Other Rooms Garage Apartment, Inside Utility
Interior
Interior Features Living Room/Dining Room Combo, Primary Bedroom Main Floor
Heating Central, Electric
Cooling Central Air
Flooring Tile, Wood
Fireplaces Type Decorative, Living Room
Furnishings Unfurnished
Fireplace true
Appliance Dishwasher, Dryer, Electric Water Heater, Gas Water Heater, Microwave, Refrigerator, Washer
Laundry Common Area, Inside
Exterior
Exterior Feature Courtyard, Private Mailbox, Sidewalk
Parking Features Curb Parking, Driveway, Off Street
Utilities Available Cable Connected, Electricity Connected, Sewer Connected, Water Connected
View Y/N No
Water Access No
View Garden, Trees/Woods
Roof Type Shingle
Porch Front Porch, Screened
Exposure West
Garage false
Private Pool No
Building
Lot Description Historic District, City Limits, Landscaped, Near Marina, Sidewalk
Story 2
Entry Level Multi/Split
Foundation Crawlspace
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Architectural Style Cottage
Unit Floor 1
Structure Type Frame
New Construction false
Construction Status Completed
Schools
Elementary Schools Read Pattillo Elem
Middle Schools New Smyrna Beach Middl
High Schools New Smyrna Beach High
Others
Pets Allowed Cats OK, Dogs OK
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional, Trade, Owner Financing
Listing Terms Cash, Conventional, Trade, Owner Financing
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/stellar/NS1088689
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International Realtor & CEO of The Pina Group | License ID: 2191407