Experience with small multifamily development in Daytona Beach FL

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Experience with small multifamily development in Daytona Beach FL

Chris Moore
Rental Property Investor · Mountain View, CA · Member since 2015 · 73 posts · 17 votes

Hello All,

A partner and I just purchased a multifamily in Daytona Beach that has open space on about 40% of the lot and we would want to put some additional buildings on it (2-8 units). Anyone have experience or can point me in the direction of someone who does? Thanks in advance.

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Jacob Kline
Rental Property Investor · St Augustine, FL · Member since 2019 · 74 posts · 47 votes
6y

@Chris Moore I live about 30 minutes from Daytona. Might be able to help you with some local contacts for construction, PM, and site development. What is the acreage of the unused land?

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  • Greg Dickerson
    Developer · Charlottesville, VA · Member since 2018 · 4k+ posts · 4k+ votes
    6y
    Originally posted by @Chris Moore:

    Hello All,

    A partner and I just purchased a multifamily in Daytona Beach that has open space on about 40% of the lot and we would want to put some additional buildings on it (2-8 units). Anyone have experience or can point me in the direction of someone who does? Thanks in advance.

    What would you like to know?

    0Reply
  • David PierceBusiness Member
    Property Manager · Deland, FL · Member since 2019 · 71 posts · 28 votes
    6y

    For starters - I would put as many units as you can on the property.

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  • Chris Moore
    OP
    Rental Property Investor · Mountain View, CA · Member since 2015 · 73 posts · 17 votes
    6y
    Originally posted by @Greg Dickerson:
    Originally posted by @Chris Moore:

    Hello All,

    A partner and I just purchased a multifamily in Daytona Beach that has open space on about 40% of the lot and we would want to put some additional buildings on it (2-8 units). Anyone have experience or can point me in the direction of someone who does? Thanks in advance.

    What would you like to know?

     

    Sorry for the delay, yes I agree with putting as many units as possible. I don't know the market and would like to speak with anyone that has local knowledge and experience especially with permitting or builder recommendations. There is also a build cost to unit rent ratio that maybe a single story 4 unit would be more profitable than a 4 story hotel for example. 

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  • Chris Moore
    OP
    Rental Property Investor · Mountain View, CA · Member since 2015 · 73 posts · 17 votes
    6y
    Originally posted by @David Pierce:

    For starters - I would put as many units as you can on the property.

     Haha yes that's the plan! Finding out what is possible is the hard part.

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  • David PierceBusiness Member
    Property Manager · Deland, FL · Member since 2019 · 71 posts · 28 votes
    6y

    Zoning is pretty straightforward@

    PMI Central Florida4.468 Reviews
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  • Jacob Kline
    Rental Property Investor · St Augustine, FL · Member since 2019 · 74 posts · 47 votes
    6y

    @Chris Moore I live about 30 minutes from Daytona. Might be able to help you with some local contacts for construction, PM, and site development. What is the acreage of the unused land?

    1Reply
  • Chris Moore
    OP
    Rental Property Investor · Mountain View, CA · Member since 2015 · 73 posts · 17 votes
    6y
    Originally posted by @Jacob Kline:

    @Chris Moore I live about 30 minutes from Daytona. Might be able to help you with some local contacts for construction, PM, and site development. What is the acreage of the unused land?

     Hey Jacob, Thanks a lot, its about 90 meters by 100 meters. Basically the back half of a long lot. 

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