Fully Repositioned Asset Following $3.2 Million Capital Improvement Program: Current ownership has invested approximately $3.2 million across Nova 1400, including $1.25 million of exterior improvements and $1.98 million of interior upgrades. Major improvements include parking, paving and striping, concrete repairs, landscaping, exterior paint, roof cleaning, clubhouse and fitness upgrades, gated access improvements, amenity enhancements, signage, flooring, appliances, washer/dryer additions, granite countertops, cabinet modifications, interior components, and interior paint.

Stabilized Workforce Housing in an Affordable Coastal Florida Market: Nova 1400 offers investors a stabilized workforce housing community serving Daytona Beach’s broad base of renters seeking attainable housing near employment, retail, education, and coastal lifestyle amenities. The property’s affordable positioning supports durable renter demand and long-term occupancy stability.

Large 1 Bed Units with Conversion Upside: Nova 1400’s 877 SF one-bedroom units feature oversized bedrooms measuring approximately 17’ x 14’, creating an opportunity to convert select units into 2x1 layouts and capture rent premiums. Each unit also includes a private screened-in patio, with additional yard space that may provide an opportunity to add private pet fences and charge associated premiums.

Attractive Basis with Future Expansion Potential: Nova 1400 offers investors the opportunity to acquire a stabilized, fully renovated workforce housing asset at an attractive basis. Situated on more than 44 acres, the property may provide long-term optionality for future expansion or additional density, subject to zoning, entitlement approvals, site planning, and overall development feasibility.

Demand Outpacing Supply as Development Pipeline Slows: For the first time in approximately five years, Daytona Beach apartment demand is exceeding new supply, with approximately 2,000 units absorbed compared to 1,800 new units delivered over the trailing twelve months through Q2 2026. With only 380 units remaining under construction, slowing completions should reduce competitive pressure and support improving occupancy, rent growth, and operating fundamentals.

Established Daytona Beach Location: Nova 1400 is positioned within an established Daytona Beach corridor providing residents convenient access to employment centers, retail, healthcare, Embry-Riddle Aeronautical University, Daytona International Speedway, and Daytona Beach International Airport. The property’s central location supports consistent workforce housing demand across multiple employment sectors.