| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Fair |
| Demographics | 62nd | Best |
| Amenities | 49th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1520 Ocean Shore Blvd, Ormond Beach, FL, 32176, US |
| Region / Metro | Ormond Beach |
| Year of Construction | 1973 |
| Units | 30 |
| Transaction Date | 1978-06-15 |
| Transaction Price | $502,500 |
| Buyer | PARIKH MADHUSUDAN V |
| Seller | --- |
1520 Ocean Shore Blvd Ormond Beach Value-Add Multifamily
Older coastal stock and elevated ownership costs point to steady renter need in this Inner Suburb location, according to WDSuite’s CRE market data.
Situated in Ormond Beach’s Inner Suburb, the neighborhood ranks 41 out of 159 metro neighborhoods, making it competitive among Deltona–Daytona Beach–Ormond Beach submarkets based on WDSuite’s CRE market data. Parks and dining are a clear strength, with park and restaurant density placing the area in the top quartile nationally, supporting day-to-day livability for renters. By contrast, cafes and pharmacies are relatively sparse within the immediate neighborhood, so residents may rely on nearby corridors for certain errands.
Vintage context matters: the submarket’s average construction year is 1978, while the subject was built in 1973. The older vintage suggests investors should plan for capital improvements and potential value-add upgrades to maintain competitiveness against slightly newer stock. Average household size in the neighborhood skews small, and within a 3-mile radius the population has a large share of older adults; this mix typically supports demand for smaller, low-maintenance rentals and can aid lease retention when product is well-maintained.
Tenure patterns underscore a modest renter base: the neighborhood’s share of renter-occupied housing units is measured at 17.3%, indicating a smaller but stable pool of renters. In a 3-mile radius, households have grown even as average household size declined, pointing to more households occupying available units—an indicator of a broader tenant base for right-sized apartments. Median home values in the neighborhood are elevated relative to incomes (high value-to-income ratios nationally), which reinforces reliance on multifamily housing and can support pricing power while requiring careful lease management.
Operationally, neighborhood occupancy has trended on the softer side versus metro and national norms, which suggests that active marketing and asset quality are important to support leasing velocity. Nonetheless, strong amenity access—particularly parks and restaurants—combined with a small-household profile and an owner-tilted housing stock can create durable demand for professionally managed rentals when presented with thoughtful renovations and competitive positioning.
Comparable neighborhood safety data are not available for this location in WDSuite’s dataset. Investors should benchmark trends at the city and metro level and evaluate property-specific measures such as lighting, access control, and visibility to support resident comfort and leasing stability.
This 30-unit asset, built in 1973 with compact average unit sizes, is positioned for value-add execution in a neighborhood that is competitive among metro peers for livability. Elevated home values relative to incomes in the area help sustain renter reliance on multifamily housing, while small household sizes and an older local population support demand for efficient floor plans. According to CRE market data from WDSuite, neighborhood occupancy trends are softer than broader norms, making renovation quality, operations, and pricing discipline key to maintaining occupancy stability.
Forward-looking 3-mile projections indicate growth in households alongside smaller average household sizes, which can translate to a larger tenant base for well-located, professionally managed apartments. Given the older vintage versus the submarket average, targeted capital planning—interiors, building systems, and curb appeal—offers a path to defend rents and improve retention in a market with strong parks and dining access but selective convenience retail.
- Value-add potential on 1973 vintage versus slightly newer neighborhood stock
- Elevated ownership costs support renter reliance and pricing power
- Small-household and older-adult mix favors efficient unit layouts
- Strong parks and dining access bolster neighborhood livability
- Risk: Softer neighborhood occupancy requires disciplined operations and competitive renovations