407 Magnolia Street
New Smyrna Beach, FL 32168

Listed at $739,900

Details

  • MLS# NS1088689
  • Residential - Single Family
  • Status Pending
  • 4 Bedrooms
  • 3 full Bathrooms
  • 2,824 Square Feet
  • 0.170 acres
  • Built in 1913
  • Local Schools

Description

Under contract-accepting backup offers. 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...read more Canal Streets 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.

Features

  • Dishwasher
  • Dryer
  • Electric Water Heater
  • Gas Water Heater
  • Microwave
  • Refrigerator
  • Washer
  • Central Air
  • Tile
  • Wood
  • Central, Electric
  • 2.0 Stories
  • $4,590 Taxes
  • Public
  • Built in 1913
View All Features

Contact the Agent

Contact the Listing Agent
Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 10/31/2026. The listing information on this page last changed on 10/31/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Sat 10/31/2026 12:03:17 AM EST) or Miami MLS (last updated Fri 10/30/2026 11:59:02 PM EST) or Stellar MLS (last updated Fri 10/30/2026 11:54:56 PM EST) or Daytona MLS (last updated Fri 10/30/2026 11:36:47 PM EST) or Tallahassee MLS (last updated Fri 10/30/2026 10:48:33 PM EST) or Northeast Florida MLS (last updated Fri 10/30/2026 11:58:58 PM EST) or My State MLS (last updated Fri 10/30/2026 11:30:54 PM EST) or Florida Keys MLS (last updated Fri 10/30/2026 8:33:12 PM EST). Real estate listings held by brokerage firms other than Adams Cameron & Co. REALTORS may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.

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All Property Features

  • Property Type: Residential - Single Family
  • Additional Rooms: Garage Apartment, Inside Utility
  • Appliances: Dishwasher, Dryer, Electric Water Heater, Gas Water Heater, Microwave, Refrigerator, Washer
  • Cooling: Central Air
  • Days on Site: 93
  • 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
  • Exterior Features: Courtyard, Private Mailbox, Sidewalk
  • Fireplace: Decorative, Living Room
  • Fireplace Y/N: Yes
  • Flood Zone Code: X
  • Flooring: Tile, Wood
  • Foundation: Crawlspace
  • Heating: Central, Electric
  • Home Style: Cottage
  • Home Warranty Y/N: No
  • Interior Features: Living Room/Dining Room Combo, Primary Bedroom Main Floor
  • Listing Terms: Cash, Conventional, Trade, Owner Financing
  • Lot Description: Historic District, City Limits, Landscaped, Near Marina, Sidewalk
  • Lot Dimensions: 0.17
  • Lot Size: 0.17 Acres
  • 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
  • Roof Type: Shingle
  • Sewer: Public Sewer
  • Showing Instructions: Appointment Only, Call Listing Agent
  • Special Sale Provisions: None
  • Stories: 2.0
  • Taxes: $4,590
  • Utilities: Cable Connected, Electricity Connected, Sewer Connected, Water Connected
  • Vegetation: Mature Landscaping, Oak Trees
  • Water: Public
  • Water Access Y/N: No
  • Windows: Window Treatments
  • Year Built: 1913
  • Zoning: R5