BEDS4
BATHS3 full
SQUARE FEET2,824
MLS#NS1088689
STATUSActive
PROPERTY TYPEResidential - Single Family
SUBDIVISIONANDREWS
Property Description
Turn-Key 1031 Exchange Opportunity in Historic Downtown New Smyrna Beach! 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 facilitiesApproximately 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 zoningLocated within the Historic and Arts Overlay District, Prime Downtown New Smyrna Beach locationEasy walk to Canal Street shopping, dining, galleries, and entertainmentMain residence roof approximately 8 years old, Detached cottage roof replaced in 2026Strong long-term rental history with excellent tenant demandOwner 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.
Property Features
Property Type: Residential - Single Family
Cooling: Central Air
Heating: Central, Electric
Home Style: Cottage
Lot Size: 0.17 Acres
Roof Type: Shingle
Stories: 2.0
Taxes: $4,590
Year Built: 1913
Amenities
Living Room/Dining Room Combo
Primary Bedroom Main Floor
Courtyard
Private Mailbox
Sidewalk
Feature Descriptions
Additional Rooms: Garage Apartment, Inside Utility
Appliances: Dishwasher, Dryer, Electric Water Heater, Gas Water Heater, Microwave, Refrigerator, Washer
Days on Site: 4
Directions: From US head E on Canal Street to Magnolia, turn right head S to 407 on the left just pass the overpass
Exterior: Frame
Fireplace: Decorative, Living Room
Fireplace Y/N: Yes
Flood Zone Code: X
Flooring: Tile, Wood
Foundation: Crawlspace
Home Warranty Y/N: No
Listing Terms: Cash, Conventional, Trade, Owner Financing
Lot: Historic District, City Limits, Landscaped, Near Marina, Sidewalk
Lot Dimensions: 0.17
Other Structures: Other
Ownership: Fee Simple
Parking: Curb Parking, Driveway, Off Street
Parking Notes: Curb Parking, Driveway, Off Street
Patio/Porch: Front Porch, Screened
Pets Allowed: Cats OK, Dogs OK
Property Attached Y/N: No
Property Sub-Type: Single Family Residence
Sewer: Public Sewer
Showing Instructions: Appointment Only, Call Listing Agent
Special Sale Provisions: None
Utilities: Cable Connected, Electricity Connected, Sewer Connected, Water Connected
Vegetation: Mature Landscaping, Oak Trees
Water: Public
Water Access Y/N: No
Windows: Window Treatments
Zoning: R5
Room Sizes
Primary Bedroom: 12x12
Primary Bathroom: 7x5
Living Room: 16x13
Dining Room: 12x12
Kitchen: 12x8
Local Schools
High School: New Smyrna Beach High
Middle School: New Smyrna Beach Middl
Elementary School: Read Pattillo Elem
Listed By / Shown By
Listed By
Agency Name: COLLADO REAL ESTATE
Agency Contact: 386-427-0002
Shown By
Agency Title: RealtyMark
Agency Phone: 888-260-0040
Estimate Your Payment
Estimated Payment
$ 2,245.00 per month $1,646.70 Principal & Interest $382.50 Property Tax $215.80 Homeowner's InsuranceChange Payment Information
407 Magnolia Street | MLS# NS1088689
This single family home located at 407 Magnolia Street, New Smyrna Beach, FL 32168 is currently listed for sale with an asking price of $739,900. This property was built in 1913 and has 4 bedrooms and 3 full baths with 2824 sq. ft. Magnolia Street is located in the ANDREWS subdivision. Search ANDREWS real estate on www.realtymark.net today.