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600 N Atlantic AVENUE, #305, Daytona Beach, FL, 32118 | $79,000
Under Construction. Exceptional investment opportunity for a direct oceanfront unit in what promises to be an upscale resort! Third Floor unit in the historic Daytona Beach Plaza Resort and Spa. EXTRA LARGE (513 sqft) and desirable corner studio unit with great OCEAN AND NORTH VIEWS! from TWO BALCONIES. The Plaza Resort and Spa has a rich history in the World's Most Famous Beach and boasts one of the best oceanfront locations with walking distance to restaurants, shops and entertainment.
Some of the exclusive Amenities include a 15, 000 sq. ft. European spa complete with a salon, state-of-the-art fitness center, sparkling heated pool, full bar, restaurant, and on-site management.
The property is currently undergoing a massive $45 million renovation with a goal to take this to a 5 Star luxury resort. All units are being completely renovated and the building is closed during this work which is expected to complete Mid 2024. The renovations will include new flooring, furniture and hurricane shutters for a turnkey investment unit. The owners are able to occupy their unit 60 days of the year and rent it out using the hotel rental program; split is approximately 50/50.
Please note the photos of the unit and building are from before the gutting and renovation work and are solely provided to give an idea of the spaces and views - not what the updated unit will look like.
The Plaza Resort and Spa is presently closed for renovations, Sale is cash as conventional financing is not available. This unit sold for over $200, 000 almost twenty years ago, and when finally completed this unpolished gem will shine!
All information is deemed accurate but not guaranteed. Buyer is expected to perform Due Diligence.
Features
- Elevator: Y
- Heating: Central
- Cooling: Central Air
- Levels: 14
- Amenities: Fitness Center, Other, Pool, Recreation Facilities, Security
- Rooms: 2
- Baths: 1 full
- Laundry: None
- Complex: PLAZA RESORT & SPA CONDO
- Year Built: 1969
- Common Charge: $961 Monthly
- Approx Sq. Feet: 513
- Est. Taxes: $318
- Condo Fee: $961 Monthly
- View: City, Water
- Pet Policy: No
- Appliances: Bar Fridge, Cooktop
- MLS#: T3491790
- Days on Market: 41 days
- Website: https://www.raveis.com
/prop/T3491790/600natlanticavenue_daytonabeach_fl?source=qrflyer
Listing courtesy of KARLHAUS REALTY Phone: 386-788-1988
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Melissa CohnRVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 16953
917.838.7300
Melissa.Cohn@raveis.com
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600 N Atlantic AVENUE, #305, Daytona Beach, FL, 32118
$79,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Melissa Cohn
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
|---|---|---|---|
| Loan Amount | $63,200 | $63,200 | $63,200 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 7.000% | 6.990% | 5.990% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 7.551% | 7.159% | 6.276% |
| Monthly Tax Payment | $27 | $27 | $27 |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $420 | $420 | $533 |
| Total Monthly Payment | $521 | $521 | $634 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change. The Total Monthly Payment does not include the estimated HOA/Common Charge payment.
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