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USAFLNew Smyrna BeachAndrews Prop New Smyrna407 Magnolia St
Listing image | Image 1

407 Magnolia St, New Smyrna Beach, FL

House

For Sale

Listed price in listed location currency (USD).
$739,900

430

MLS® NS1088689

  • Key Facts
  • Description
  • Rooms
  • Map

Key Facts

Type Single Family Residence
Levels Residential
Size 2824 sqft
Garage 
Taxes $4,590
Days Active 1
Lot Size 0.17 Acres
Approx. Age 1913
Avg. Price Per Sqft $262
MLS® Number NS1088689

Property Address: 407 Magnolia St, NEW SMYRNA BEACH, FL, 32168-7338

Average square foot calculated using Size range provided by listing agent.

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.
MLS® NumberNS1088689
Laundry LevelEnsuite
Central VacNo
FireplaceYes
Acreage
Exterior
Garage
Approx. Age1913
Basement
DrivewayCurb Parking, Driveway, Off Street
Garage Spaces
HeatCentral, Electric
A/CCentral Air

Extras

Rooms

Change to metres

Dining Room:First Floor12 × 12 ft
Kitchen:First Floor12 × 8 ft
Living Room:First Floor16 × 13 ft
Other:First Floor12 × 12 ft
Other:First Floor7 × 5 ft

Price History

-End Date
Not Sold YetSold Price

For Sale

Jul 31, 2026List Date
$739,900List Price
How Much House Can I Afford?

Home Estimate Zoopraisal®

This property is estimated to sell between: $701,000 and $760,000.
Similar properties in this area sold on average for: $701,428
Expected to sell in 188 days. Similar properties sold in 189 days. This home has been on Zoocasa for 1 day.

The estimated sale price does not take into account many variables such as recent renovations, type of appliances, school district etc. To get a more accurate estimate please contact agent.

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Destination Address
407 Magnolia St, New Smyrna Beach, FL

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