Views - Primary on Main - Seller Financing
Address
407 Magnolia Street, NEW SMYRNA BEACH, FL
Price
$ 739,900
Property Attributes
- MLS#NS1088689
- TypeSingle Family
- Listing Status Active
- CountyVolusia
- CityNEW SMYRNA BEACH
- AreaNew Smyrna Beach
- NeighborhoodANDREWS
- Zip32168
- StyleCottage
- Year Built1913
- Taxes$ 4590
- Price$ 739,900
- Bedrooms4
- Full Bathrooms3
- Half Bathrooms0
- Sqr Footage2824
- Lot Size0.17 Acres
Data Source:
Stellar MLS
Property Description
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.
| Elementary School | Middle School | High School |
|---|---|---|
| Read Pattillo Elem Elementary School | New Smyrna Beach Middl Middle School | New Smyrna Beach High High School |
| Price History | |
|---|---|
| 7/31/2026 | Listed $739,900 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Central,Electric |
| Cooling | Central Air |
| Utilities | Cable Connected,Electricity Connected,Sewer Connected,Water Connected |
| Possession | Close Of Escrow |
| Roof | Shingle |
| Appliances | Dishwasher,Dryer,Electric Water Heater,Gas Water Heater,Microwave,Refrigerator,Washer |
| Zoning | R5 |
| Patio/Porch Features | Front Porch,Screened |
| Architectural Style | Cottage |
| Construction Materials | Wood Frame |
| Pets Allowed | Cats OK,Dogs OK |
| Year Built | 1913 |
| View | Garden,Trees/Woods |
| Levels | Multi/Split |
| Property Subtype | Single Family Residence |
| Tax Year | 2025 |
| Ownership | Fee Simple |
| County | Volusia |
| New Construction | false |
| Property Type | Residential |
| Subdivision Name | ANDREWS |
| Facing Direction | West |
| Garage Y/N | false |
| Other Structures | Other |
| Total Rooms | 5 |
| Full Baths | 3 |
| Status | Active |
| Directions | From US head E on Canal Street to Magnolia, turn right head S to 407 on the left just pass the overpass |
| High School | New Smyrna Beach High |
| City | NEW SMYRNA BEACH |
| Senior Community Y/N | false |
| MLS Area | 32168 - New Smyrna Beach |
| Lot Size Units | Square Feet |
| Lot Size Square Feet | 7500 |
| Carport Y/N | false |
| Listing Terms | Cash,Conventional,Trade,Owner May Carry |
| Elementary School | Read Pattillo Elem |
| Property Attached Y/N | false |
| Land Lease Y/N | false |
| Tax Annual Amount | 4590 |
| Home Warranty Y/N | false |
| Middle/Junior High School | New Smyrna Beach Middl |
| Property Condition | Completed |
| Additional Parcels Y/N | false |
| Lease Considered Y/N | true |
| Virtual Tour | https://www.propertypanorama.com/instaview/stellar/NS1088689 |
| Building Area Units | Square Feet |
| Living Area Units | Square Feet |
| Standard Status | Active |
| Occupancy Type | Tenant |
| Tax Lot | 63 |
| 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 |
| Minimum Lease | 1 Month |
| Water Access Y/N | false |
| Additional Rooms | Garage Apartment,Inside Utility |
| Water View Y/N | false |
| Flood Zone Code | X |
| In Law Suite YN | false |
| Flood Zone Code X | Yes |
| DockY/N | false |
Interior Features
| Interior Amenities | Living Room/Dining Room Combo,Primary Bedroom Main Floor |
|---|---|
| Flooring | Tile,Hardwood |
| Furnished Y/N | Unfurnished |
| Fireplace Features | Decorative,Living Room |
| Total Stories | 2 |
| Air Conditioning Y/N | true |
| Heating Y/N | true |
| Window Features | Window Treatments |
| Fireplace Y/N | true |
| Laundry Features | Common Area,Inside |
| Total Bedrooms | 4 |
| LivingAreaSource | Public Records |
| Total Baths | 3 |
Exterior Features
| Exterior Amenities | Courtyard,Private Mailbox,Sidewalk |
|---|---|
| Vegetation | Mature Landscaping,Oak Trees |
| Parking Features | Curb Parking,Driveway,Off Street |
| Lot Features | Historic District,City Lot,Landscaped,Near Marina,Sidewalk |
| Water Source | Public |
| Lot Size Area | 7500 |
| Foundation Details | Crawlspace |
| Spa | false |
| Building Area Total | 3064 |
| Lot Dimensions | 50 x 150 |
| Lot Size Acres | 0.17 |
| Road Surface Type | Asphalt |
| Private Pool | false |
| Waterfront Y/N | false |
| Number of Lots | 1 |
| Road Responsibility | Public Maintained Road |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Single Family Average in 32168
Price
Taxes
Year Built
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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.
Updated on September 12, 2026 9:29 PM UTC
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
The data relating to real estate for sale/lease on this web site come in part from a cooperative data exchange program of the multiple listing service (MLS) in which this real estate firm (Broker) participates. The data is provided exclusively for the user's personal non-commercial use, and may not be used for any purpose other than to identify properties that the user may be interested in purchasing or leasing. The properties displayed may not be all of the properties in the MLS's database, or all
