Quantum Capital Investments LLC Acquires Palmetto Palms Multifamily Portfolio In South Daytona For $6M

Marcus & Millichap recently sold Palmetto Palms, a 40-unit multifamily portfolio in South Daytona, Florida. The property, located at 1160 and 1890 South Palmetto Avenue & 201 Kost Road, was sold for a total price of $6 million, or $150,000 per unit. With a total square footage of 32,764, the price per square foot amounted to $183. This transaction set a record price per unit in the submarket, highlighting the resiliency of the Florida market.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $6,000,000
• Number of Units: 40
• Price Per Unit: $150,000
• Total Square Footage: 32,764
• Price Per Square Foot: $183
• Market: South Daytona

The buyer in this transaction was Quantum Capital Investments LLC. The deal was facilitated by the brokers Jason Hague, Ned Roberts, and Duane Anderson from Marcus & Millichap. Their expertise and negotiation skills contributed to overcoming any hurdles and securing the record-breaking price per unit for this multifamily portfolio in South Daytona, Florida.