H
ilco Real Estate Sales (HRE) announces the start of an auction for a portfolio of over 40 residential properties and development lots across Daytona Beach, Florida, on November 19, 2024. The auction will conclude on November 21, 2024.

    The portfolio consists of 44 prime sites, including single-family homes, multifamily complexes, land parcels, mixed-use properties, and a residential condominium. Approximately 40% of the properties are tenant-occupied, generating rental income, while others offer opportunities for short-term rentals due to Daytona Beach's popularity as a tourist destination.

    The portfolio also includes two redevelopment assemblages: one with 10 properties spanning an entire block, suitable for high-density multifamily development, and another featuring three adjacent land parcels that can accommodate single-family homes or a larger fourplex structure. All sites offer the potential to build custom beachside homes or enhance existing structures.

    Daytona Beach is rapidly transforming into a popular residential area, driven by its affordable coastal living, year-round mild climate, and robust local economy. The city has ranked fourth among the Fastest-Growing Places in the U.S. for 2024-2025, with a population migration growth rate of 4.92%. This influx of new residents is driving increased demand for housing and development.

    "These residential sites offer a unique opportunity to invest in one of Florida's most iconic and rapidly growing coastal cities," said Jonathan Cuticelli, vice president at Hilco Real Estate Sales. "Investors and developers can take advantage of these locations for rental income, high-end residential development, or someone looking for a new home."

    Individual bids are not required before the auction date for single properties, but bulk bids for multiple properties must be submitted by November 13, 2024, at 5:00 p.m. (ET). Bidders must agree to the Terms of Sale and the Florida Form Purchase Agreement on an "as-is, where-is" basis. A $5,000 deposit per property is required, with a maximum of five properties per bidder.

    A buyer's seminar will be held on November 13, 2024, at 3:00 p.m. (ET) for those seeking more information about the bidding process and the online auction site. Interested bidders should review the requirements to participate in the auction sale process available on Hilco Real Estate Sale's website.

    For further information, please contact Jonthan Cuticelli at (203) 561-8737 or Jiovanny Restrepo at (847) 386-2282. For more information on the property, sale process, and terms, visit HilcoRealEstateSales.com or call (855) 755-2300.

    Hilco Real Estate Sales is a trusted, full-service team that has secured billions in value for hundreds of clients over 20+ years. They advise and execute strategies to assist clients seeking to optimize their real estate assets, improve cash flow, maximize asset value, and minimize liabilities and portfolio risk.