404 S Ridgewood Avenue This is an incredible deal--honestly, at $103 per square foot for renovated historic assets in Daytona Beach, the math is doing some very heavy lifting for the buyer. Especially considering it's a turnkey ''business-in-a-box'' with the PadSplit infrastructure already in place. Since you're looking at a $1.5M All-Cash offer with a 45-day close, you have a high-velocity deal on your hands. Here is a breakdown of why this portfolio is hitting the ''sweet spot'' for a savvy investor: The Value Proposition - The ''Double Play'': You aren't just buying residential real estate; you're buying a high-yield cash-flow engine. PadSplit typically generates significantly higher Net Operating Income (NOI) than traditional long-term rentals because you are renting by the room. - Historic Protection & Prestige: Having a property on the U.S. National Register of Historic Places provides a certain level of ''moat'' around the asset value, though it usually comes with stricter renovation guidelines (which, fortunately, seem to be completed here). " The Land "Kicker": The .51 acres of T-2 zoned land is your exit strategy or expansion play. In Daytona, T-2 (Tourist/Professional Office) is highly flexible, potentially allowing for more density or commercial use down the line. ________________________________________ Investment Snapshot Component Detail Total Price $1, 500, 000 (All Cash) Price Per SF ~$103 (Aggressive for renovated assets) Key Assets 8, 000 SF Victorian, 7, 000 SF Co-living, 1, 021 SF House Bonus Value 3 Buildable Lots + $100k in Furniture/Fixtures Location Prime US-1 Frontage (High Visibility) ________________________________________ Strategic Considerations " Zoning Synergy: The contiguous nature of the 5 parcels is the real winner here. It allows for a unified management strategy and makes the entire block more attractive for future institutional redevelopment. " Frontline Housing Demand: Daytona has a massive workforce in the tourism and healthcare sectors. The PadSplit model targeting "frontline workers" taps into a demographic with high demand and historically low supply in that corridor. " Turnkey Transition: Since the lease with PadSplit runs through July 2026, the new owner has guaranteed operational management for the next few months, providing a "buffer" period to learn the local market dynamics. Note: For an all-cash 45-day close, the due diligence will need to be airtight regarding the historic preservation easements (if any) and the specific occupancy permits required by the city for co-living at this scale.