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Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1980
Sq.Footage
39,524
This 48-unit apartment complex offers a turn-key solution for investors seeking a stable income stream with a single tenant that ensures minimal management effort. The entire property is leased by an accredited private 4-year college founded in 1989. With students from across the country and internationally, the college's continued growth and established reputation ensures a strong and reliable tenant, making this a truly hands-off investment. Residents enjoy modern living spaces with updated vinyl flooring and recently updated kitchens and bathrooms in most units. One of the standout features of this property is its stunning Outdoor Oasis courtyard. This inviting outdoor space includes brick walkways, spacious patios, two huge gazebos, and a charming brick fireplace, perfect for gatherings or relaxation. Beautiful stone flower beds, new palm trees, and fresh sod create a serene environment, all maintained by an efficient irrigation system. Other Amenities included an on-site laundry facility and management office, electronic locks on all apartments, and plenty of parking. Other recent major updates include roof replacement on all the building in 2020, robust gutter and drainage system, exterior lighting, security cameras and gates, and the majority of the HVAC systems have been replaced within the last five years. The property location is a significant asset, benefiting from its proximity to historic downtown Leesburg where residents can enjoy local restaurants, shops, and Ski Beach/Venetian Park on Lake Harris. It's also conveniently situated approximately 56 miles from Orlando International Airport and within a two-hour drive of stunning beaches on both the Atlantic and Gulf coasts. Leesburg, FL, has seen significant growth in recent years, with several large employers near this property increasing the demand for affordable housing in the area. AN ADDITIONAL 2.68-ACRE ADJACENT PARCEL that offers the opportunity to possibly build up to an additional 48 units is also available. (MLS # G5099161) This is an opportunity not to be missed—call today for more information!
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Cooling YN
YES
-
Cooling
Central Air
-
Fireplace YN
NO
-
Heating YN
YES
-
Heating
Central
Exterior
-
Garage
No
-
Construction Materials
Block
-
Other Exterior Features
Lighting, Rain Gutters
-
Pool
No
-
Waterfront YN
NO
Area & Lot
-
Lot Size(acres)
2.35
-
Property Type
Residential Income
-
Property Sub Type
Multi Family
Price
-
Sales Price
$6,500,000
-
Tax Amount
7979.0
-
Sq. Footage
39, 524
-
Price/SqFt
$164
HOA
-
Association
NO
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
Property Features
-
Foundation Details
Slab
-
Ownership
Fee Simple
-
Senior Community YN
NO
-
Sewer
Public Sewer
-
Tax Lot
4
-
Water Source
Public
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Location
County
Lake
Elementary School
Middle School
High School
Listing Courtesy of Jonathan Martin , CARLINO REAL ESTATE GROUP INC
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Business Coach | Executive Sales Associate | Realtor®
MichaelGraf
Call Michael today to schedule a private showing.
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