Daytona Inn Beach Resort is a condo-hotel in the heart of Beachside. Actually, it is right by the side of this arch over the ramp to the Beach “World’s Most Famous Beach”
You simply can’t be more “central” to the beachside than this.
The Condo-hotel was built as a Hotel in 1961. When I started in Daytona as a Real Estate broker in 1999, it was already a condo-hotel for a few years.
Hurricane Charley in 2004 took it roof off but not much damage overall. But for a condo-hotel built in 1961, the time came for concrete restoration, and for owners this means Special Assessment. The Special Assessment is done in phases, so it would take them some time to do the whole building. Right now the work is done on the south wing.
While owners would have to pay for this in installments in few year period, if you want to buy a unit there, the assessment has to be paid in full, and this is the requirement of the Board in order for any transfer of Title.
I must say that I am surprised that in a condo-hotel undergoing major concrete work, there are only 6 units for sale. It is unusual. We are used to seeing a lot of units for sale when the properties are hit with Special Assessment. Actually, there were quite a lot of units for sale in Daytona Inn just a few months ago, and some prices were very low, but it is all history now.
The prices of units for sale start from $33,125, a very low price, but next is already $59,900, and then 3 units in the $60s, and one for $79,900. Times have changed and you feel as if it happened on a dime.
19 units were sold from January 1, 2015 until today. 3 of them were sold for under $20K; 4 for under $30K…
Well, all the signs indicate that prices started going up. We have been waiting for that for so long...
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