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1907 SOUTH ST Leesburg, FL 34748
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Key Details
Sold Price $6,300,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 65,404 sqft
Price per Sqft $96
Subdivision Leesburg W C Wilkins
MLS Listing ID G5045908
Sold Date 12/08/21
Construction Status Inspections
HOA Y/N No
Year Built 1985
Annual Tax Amount $7,484
Lot Size 7.390 Acres
Acres 7.39
Lot Dimensions irr
Property Description
Offering is for a portfolio of 3 apartment complexes, 66 Units w/ four vacancies, at a 6% CAP Rate being sold “as is where is”. Seller will not divide. The complexes are all attractive, well maintained, with 94% occupancy at listing date and expected to be at 100% occupancy soon. The 21 buildings total 65,404 SF+/- and are on a total of 7.39+/- acres with two complexes sitting across from each other and the third complex less than 1 mile away. All three complexes are walking distance of Leesburg Elementary School, Oak Park Middle School and Leesburg High School and just minutes to UF Health at Leesburg (Hospital), and less than an hour to Orlando and Ocala and within minutes of The Villages. This Central Florida investment has significant value add opportunity with 4 vacancies plus the opportunity to increase rents. 41 of the units are 2/2 and 25 are 2/1. Offering is priced aggressively at $83,500 per unit, seller will not divide portfolio, do not disturb tenants. Financial data is available with an executed confidentiality agreement. Do not disturb tenants. Assemblage of Lake County Alt Keys # 1354846, 1820383, 2509031, 2509066, 1354757, 1354749, 3813689 & 1652642.
Location
State FL
County Lake
Community Leesburg W C Wilkins
Zoning R-2
Interior
Heating Central, Electric
Cooling Central Air
Exterior
Utilities Available Electricity Available, Phone Available, Public, Sewer Nearby, Water Connected
Building
Foundation Slab
Lot Size Range 5 to less than 10
Sewer Public Sewer
Water None
Structure Type Block
New Construction false
Construction Status Inspections
Others
Ownership Corporation
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
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Bought with GRIZZARD COMMERCIAL REALESTATE