407 MAGNOLIA STREET, NEW SMYRNA BEACH, FL 32168

Description of 407 MAGNOLIA STREET, NEW SMYRNA BEACH, FL 32168

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 for 407 MAGNOLIA STREET, NEW SMYRNA BEACH, FL 32168

Bathrooms Full

3

Bathrooms Half

0

Interior Features

Living Room/Dining Room Combo, Primary Bedroom Main Floor

Appliances

Dishwasher, Dryer, Electric Water Heater, Gas Water Heater, Microwave, Refrigerator, Washer

Flooring

Tile, Hardwood

Heating

Central, Electric

Cooling

Central Air

Furnished

Unfurnished

Architectural Style

Cottage

Parking Features

Curb Parking, Driveway, Off Street

Pool Private

No

Property Condition

Completed

Direction Faces

West

Building Information for 407 MAGNOLIA STREET, NEW SMYRNA BEACH, FL 32168

Building Area Total

3064

Building Area Units

Square Feet

Stories Total

2

Association

No

Pets Allowed

Cats OK, Dogs OK

Property Information for 407 MAGNOLIA STREET, NEW SMYRNA BEACH, FL 32168

Lot Features

Historic District, City Lot, Landscaped, Near Marina, Sidewalk

Lot Size Square Feet

7,500

Waterfront

No

View

Garden, Trees/Woods

Construction Materials

Wood Frame

Roof

Shingle

Exterior Features

Courtyard, Private Mailbox, Sidewalk

Sewer

Public Sewer

Water Source

Public

New Construction

No

Public Records for 407 MAGNOLIA STREET, NEW SMYRNA BEACH, FL 32168

Parcel Number

744138040630

Tax Annual Amount

$4,590

Tax Year

2025

Tax Legal Description

41-17-34 S 3/4 OF LOT 63 & N 11.75 FT OF LOT 64 BLK 4 ANDREW S PROPERTY NEW SMYRNA MB 1 PG 128 MB 2 PG 68 MB 12 PG 183 MB 17 PG 79 PER OR 3136 PG 0896 PER OR 8070 PG 2163 PER OR 832

Zoning

R5

County Or Parish

Volusia

Schools Near 407 MAGNOLIA STREET, NEW SMYRNA BEACH, FL 32168

Elementary School

Read Pattillo Elem

Middle School

New Smyrna Beach Middl

High School

New Smyrna Beach High

School assignments are provided by the listing and should be independently verified.

Payment Calculator

Location