condohotel: Daytona Beach Resort & Conference Center
- 06/06/11 04:32 PM
Daytona Beach Resort & Conference Center is one of the largest condo-hotel resorts in Daytona Beach area. Even though it is located in one of the best places on the Beachside, across the street from Bellair Plaza with tons of stores, restaurants, and anchored by Publix Supermarket, it is not exactly a tourist destination. Better say it is a good mix of residents and tourists, where residents dominate the crowd.
If you stay in Daytona Beach Resort & Conference Center, you do not need to have a car, as everything is just walking distance. And the best restaurants are all within 10-minute walk. The only … (8 comments)
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condohotel: What's the Sandcastle's Income?
- 10/21/10 07:08 PM
Here is the classic scenario.
A customer walks into our Daytona Beach office and asks us about the condo-hotel units. Because condo-hotel operation involves rentals, the question about income comes naturally.
- What is the income here?
I usually say that if the condo-hotel unit generates enough to cover Association (aka Maintenance) fee and Property taxes, it is already good and is not guaranteed. Some Condo-hotels do better, some do worse, but condo-hotels, at least in Daytona Beach Area, are not income producing properties. Their value is definitely in resale, and rentals only help to offset the expenses. If you get … (18 comments)
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condohotel: Fountain Beach Resort. Daytona Beach. What's Cooking?
- 05/31/09 04:01 PM
Fountain Beach Resort313 S Atlatic Ave., Daytona Beach. FL 32118
2009 turns to be a very uneventful year fro the Fountain Beach Resort so far. 2 sales at $30K (foreclosure sale) and $50K. There were 3 sales in the whole 2008, so it is not bad in comparison. Or we can say it is as dead as last year. All activity is in the Plaza Resort. Prices are similar and were even better, but you can't compare the properties.
We do not have the financials (as this would constitute the sale of securities), but as far as we know, the owners … (0 comments)
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condohotel: New Mercedes for $60. Only in Florida
- 04/05/09 01:15 PM
Our office is in Fountain Beach Resort, which is a condo-hotel. On the Marquee sign we have one line. Today it ways "Condos fr $35K".
People walk into the office and ask us about these condos. We give them the printout, brochure, and take them to this $34,900 (we shorten it on the sign) unit. A foreclosure unit, nothing wrong and nothing great about it, a decent size hotel room. Not rented because the lender / owner does not know that they can rent it.
When they come and ask about the condo, I often ask them what they are looking for. … (4 comments)
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condohotel: Oceanside Inn. A Condo-Hotel in Spring 2009.
- 04/04/09 04:18 PM
It is April already. Time to check on the Oceanside Inn - a condo-hotel on the Atlantic Ocean in Daytona Beach Shores.
9-story condo-hotel is home to 191-room resort right on the Atlantic Ocean. End of last year was tumultous for the property, but many people did not understand what happened there. And what happened was the control of the property shifted from a professional management company to the board that is a well intentioned clueless people.
Sales pretty much died in the ceanside Inn. A few short sales in the resort, with double units from $75K, whihc is half of what it cost from the developer … (2 comments)
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condohotel: Understanding Condo-Hotels. Taxes- The Achilles Heel.
- 02/22/09 08:13 AM
Taxes are the Achilles heel not only for condo-hotels, but for any property in Florida. With the next cycle of skyrocketing prices, which is not out of sight, the tax burden would again come into play.
January 29, 2008 there was adopted a Constitutional Amendment, that changed the way the property taxes are paid in Florida. For homesteaded properties the homestead exemption is increased from $25,000 to add another $25,000, however, school tax is still assessed on the second part, so it is not exaclty $50,000 exemption, but still a good one at about $39K - $40K of just value, whihc … (1 comments)
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condohotel: Understanding Condo-Hotels. A Glimpse At History
- 02/07/09 09:02 AM
Understanding Condo-Hotels. Part IUnderstanding Condo-Hotels. Part 2
Started in South Florida in early 80s, the condo-hotel concept went into hibernation after the change in tax laws in 1986 and rebounded in the second half of 90s. In Daytona first condo-hotels started when owners of oceanfront properties (BTW, from South Florida) cold not sell them as hotels in the stagnant market (the today's is not the first in history), and found it much easier and more profitable to sell units to individual owners.
Those few properties were older hotels, the Sellers/Developers spend minimum to remodel, which was required to convert. These properties … (1 comments)
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condohotel: Understanding Condo-Hotels. Association Fees
- 01/31/09 02:20 PM
To read Part 1 go to: Understanding Condo-Hotels. Part I
Maintenance Fee. The simplest but the most confusing issue.
The first question is always about the association (or maintenance) fee. Sometimes I would even get "give me the fees for different condo-hotels and we will make our decision based on that".
On our street smart scale the less the maintenance fee, the better. Let's look into that.
Maintenance fee is a sum of the expenses needed to run the property plus the reserves (not always). Cost of KWT of electricity is the same, cost of gallon of water is the same, cost of labor in the … (4 comments)
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condohotel: Daytona Beach Condo-Hotels. Understanding The Concept
- 01/26/09 03:20 PM
There are 14 Daytona Beach Condo-Hotels. Understanding the Concept guarantees that you are not confusing apples for oranges. Because condo-Hotel is a confusing concept. And like with everything we do not fully understand, we are not comfortable.
Legally, there is no such form of ownership as condo-hotel, they are condominiums. The term condo-hotel is only used to differentiate between the condominiums where you have rental restrictions and condo-hotels with nightly rents like in hotels. Hence the name.
As for the ownership, in condo-hotels, like in apartment condominiums, you own your unit PLUS an undivided interest in the common elements. And as in … (10 comments)
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condohotel: Daytona Inn Beach Resort
- 10/29/07 05:13 PM
Daytona Inn Beach Resort is located at 219 South Atlantic Ave. It is a north east corner of the intersection of International Speedway Blvd (SR 92) and Atlantic Ave. This is a dream location, right on the beach, steps to Boardwalk, Ocean Center, Peabody Auditorium, Main Street with all the event and activities within walking distance.
4-story Hotel was built in 1962, converted to a condo-hotel in mid 90s. 150+ rooms are 60% studios and 40% suites. Units 1 to 8 do not have much of a view, no balconies, walkway. Units 9 to 25 are direct oceanfront with large balconies, and the … (0 comments)
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condohotel: Condo-Hotel Studio 427. Fountain Beach Resort
- 10/04/07 04:46 PM
Fountain Beach Resort was built in 1976, converted to condo-hotel in 1998-1999. This 149-room Condo-Hotel has undergone major renovation including replacement of the roof, repairing balconies, bringing 220 V electric to codes, remodeling the lobby and the whole first floor.
Close to all Daytona Beachside attractions, Main Street, Convention Center, Peabody Auditorium, Boardwalk, Waterpark, Ocean Walk Village...
The unit is on the South Side. Wide ocean vistas. Nicely tiled and furnished. Not on rental with the front desk, but rented by the owner. Very nice and light unit.
Amenities include outdoor mini golf, outdoor pool, Oasis Bar & Restaurant, Tiki Bar. Coin Laundry. … (0 comments)
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condohotel: Studio Condo Hotel Unit 429. Fountain Beach Resort
- 10/04/07 03:06 PM
Cozy unit on the fourth floor with southern view of the ocean. Newly tiled and custom furnished. Unit is rented by the owner. Queen beds with custom frames containing linen storage. All new appliances. Clean and immaculate throughout.
Very good views from the 4th floor. Condo-Hotel unit is on the preferred South side unit in Fountain Beach Resort. Enjoy your panoramic views of the Ocean. Wathch dolphins play right from the balcony. Amenities include the pool, restaurant & Tiki Bar, coin laundry.
The resort has gone through major renovations. New roof, balconies are done, new paint, new electric. The lobby and the whole first floor … (0 comments)
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condohotel: Studio Unit 615. Fountain Beach Resort
- 10/04/07 02:00 PM
One of the best views in this resort from the 6th floor. South side unit in Fountain Beach Resort. Enjoy your panoramic views of the Ocean right from your bed or step to the balcony and watch dolphins play. Spend time in the pool, enjoy a walk on the beach, or sip cold beer at the Tiki Bar.
The resort has gone through major renovations and is still in the process of getting better. New roof, balconies are done, new paint, new 220 electric. The lobby and the whole first floor have been remodeled.
Located in the heart of Daytona's beachside, walking distance away from … (0 comments)
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condohotel: Condo-hotel studio 310. Fountain Beach Resort
- 10/04/07 01:14 PM
Studio unit on the North side of the resort. Oceanview studio is recently painted, nice and clean, new AC. Unit is on rental program. Very close to the Ocean. Ready for new owner. Perfect Oceanfront vacation getaway. Generates income while you are away. The resort went through extensive renovations that include new roof, exterior painting, balcony work and new carpeting in hallways. Restaurant and Tiki Bar on site, pool with hot tub, on-site-rental company. Walking distance from the Main Street, Waterpark, Convention Center, Ocean Walk with it`s movies and shops.
385 sf. + 49 sf balcony
Monthly Association Fee: 285
Asking price $105,000.
For more information check: http://www.daytonacondohotel.com/
… (0 comments)
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Daytona Beach Resort & Conference Center is one of the largest condo-hotel resorts in Daytona Beach area. Even though it is located in one of the best places on the Beachside, across the street from Bellair Plaza with tons of stores, restaurants, and anchored by Publix Supermarket, it is not exactly a tourist destination. Better say it is a good mix of residents and tourists, where residents dominate the crowd.
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