407 Magnolia Street, New Smyrna Beach, FL 32168
Active Under Contract $739,900
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Listing Agent: Bryan Disbrow
Agent Phone:
386-690-2558
Agent Email:
bryan.j.disbrow@gmail.com
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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 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 facilities Approximately 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 zoning Located within the Historic and Arts Overlay District, Prime Downtown New Smyrna Beach location Easy walk to Canal Street shopping, dining, galleries, and entertainment Main residence roof approximately 8 years old, Detached cottage roof replaced in 2026 Strong long-term rental history with excellent tenant demand Owner 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.
Living Room/Dining Room Combo
Primary Bedroom Main Floor
Taxes: $4,590.00
Tax Year: 2025
Courtyard
Private Mailbox
Sidewalk
Dishwasher
Dryer
Electric Water Heater
Gas Water Heater
Microwave
Refrigerator
Washer
Garden
Trees/Woods
Elementary School: Read Pattillo Elem
Middle School: New Smyrna Beach Middl
Junior High: New Smyrna Beach Middl
High School: New Smyrna Beach High
Building Description: Cottage
MLS Area: 32168 - New Smyrna Beach
Total Square Footage: 3,064
Price per Square Feet: $262.00
Total Floors: 2
Water: Public
Construction: Frame
Date Listed: 2026-07-30 00:00:00
Furnished: Unfurnished
Windows: Window Treatments
Parking: Curb Parking, Driveway, Off Street
Flooring: Tile, Wood
Roof: Shingle
Heating: Central, Electric
Cooling: Central Air
Fireplace: Y
Laundry: Common Area, Inside
Pets: Cats Ok, Dogs Ok
Sewer: Public Sewer
Lot Desc.: Historic District, City Limits, Landscaped, Near Marina, Sidewalk
Parcel ID: 744138040630
Listing Courtesy Of: Collado Real Estate
bryan.j.disbrow@gmail.com
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 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 facilities Approximately 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 zoning Located within the Historic and Arts Overlay District, Prime Downtown New Smyrna Beach location Easy walk to Canal Street shopping, dining, galleries, and entertainment Main residence roof approximately 8 years old, Detached cottage roof replaced in 2026 Strong long-term rental history with excellent tenant demand Owner 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 Details
Price: $739,900
Sq Ft: 2,824
($262 per
sqft)
Bedrooms: 4
Bathrooms: 3
City: New Smyrna Beach
County: Volusia
Type: Single Family
Development: Not On The List
Subdivision: Andrews
Acres: 0.1700
Virtual Tour/Floorplan: View
Year Built: 1913
Listing Number: NS1088689
Status Code: Active Under Contract
Taxes: $4,590.00
Tax Year: 2025
Garage:
Furnishings: Unfurnished
Pets Allowed: Cats OK, Dogs OK
Interior Features:
Living Room/Dining Room Combo
Primary Bedroom Main Floor
Financial Information:
Taxes: $4,590.00
Tax Year: 2025
Exterior Features:
Courtyard
Private Mailbox
Sidewalk
Equipment:
Dishwasher
Dryer
Electric Water Heater
Gas Water Heater
Microwave
Refrigerator
Washer
View:
Garden
Trees/Woods
School Information:
Elementary School: Read Pattillo Elem
Middle School: New Smyrna Beach Middl
Junior High: New Smyrna Beach Middl
High School: New Smyrna Beach High
Additional Information:
Building Description: Cottage
MLS Area: 32168 - New Smyrna Beach
Total Square Footage: 3,064
Price per Square Feet: $262.00
Total Floors: 2
Water: Public
Construction: Frame
Date Listed: 2026-07-30 00:00:00
Furnished: Unfurnished
Windows: Window Treatments
Parking: Curb Parking, Driveway, Off Street
Flooring: Tile, Wood
Roof: Shingle
Heating: Central, Electric
Cooling: Central Air
Fireplace: Y
Laundry: Common Area, Inside
Pets: Cats Ok, Dogs Ok
Sewer: Public Sewer
Lot Desc.: Historic District, City Limits, Landscaped, Near Marina, Sidewalk
Parcel ID: 744138040630
Map of 407 Magnolia Street, New Smyrna Beach, FL 32168
Listing Courtesy Of: Collado Real Estate
bryan.j.disbrow@gmail.com