Sarasota's Premier Homes

740 NE 5TH AVENUE

CRYSTAL RIVER , FL 34428

MLS#: W7883744

$1,585,000

Status: Active
Listing number: W7883744
Listing provided by: PREMIERE PROPERTIES
Listing agent phone: None
Last update: 9 hours ago
New on site 1 day ago
Browse Properties
CRYSTAL PARK - Commercial Sale

Property

Beds

None

Full Baths

None

1/2 Baths

None

Year Built

1972

Sq.Footage

20,648

Short Sale. Investor Opportunity in Crystal River – 19 Unit Apartment Complex Rare redevelopment opportunity in the heart of Crystal River. This 19-unit apartment building offers incredible potential for investors, developers, or builders looking to capitalize on the growing demand for housing in this highly desirable Gulf Coast community. The property sustained significant hurricane damage and is being sold as-is, presenting a prime chance to renovate, rebuild, or reimagine the site to maximize its income potential. Situated in an area known for its natural beauty, tourism, and waterfront lifestyle, the location continues to attract residents, seasonal visitors, and long-term tenants alike. With strong rental demand in Citrus County and limited multifamily inventory, this property provides the opportunity to restore a 19-unit income-producing asset or redevelop the site entirely. Conveniently located near local shops, dining, marinas, and the famous springs and outdoor attractions that make Crystal River such a sought-after destination. Property consists of (2) 7 PLEXES, (2) DUPLEXES, (1) SFR

Features & Amenities

Interior

  • Total Bedrooms

    N/A

  • Bathrooms

    N/A

  • Cooling YN

    YES

  • Cooling

    Central Air

  • Heating YN

    YES

  • Heating

    Central

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Construction Materials

    Block

  • Parking

    Common

  • Pool

    No

  • Waterfront YN

    NO

Area & Lot

  • Lot Size(acres)

    1.03

  • Property Type

    Commercial Sale

Price

  • Sales Price

    $1,585,000

  • Tax Amount

    $9,139.54

  • Sq. Footage

    20, 648

  • Price/SqFt

    $76

HOA

  • Association

    No

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    1

  • Foundation Details

    Slab

  • Ownership

    Corporation

  • Sewer

    Public Sewer

  • Tax Lot

    35

  • Water Source

    Public

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Location

County

Citrus

Elementary School

Middle School

High School

Listing Courtesy of Nicki Vogiatzis , PREMIERE PROPERTIES

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Short Sale. Investor Opportunity in Crystal River – 19 Unit Apartment Complex Rare redevelopment opportunity in the heart of Crystal River. This 19-unit apartment building offers incredible potential for investors, developers, or builders looking to capitalize on the growing demand for housing in this highly desirable Gulf Coast community. The property sustained significant hurricane damage and is being sold as-is, presenting a prime chance to renovate, rebuild, or reimagine the site to maximize its income potential. Situated in an area known for its natural beauty, tourism, and waterfront lifestyle, the location continues to attract residents, seasonal visitors, and long-term tenants alike. With strong rental demand in Citrus County and limited multifamily inventory, this property provides the opportunity to restore a 19-unit income-producing asset or redevelop the site entirely. Conveniently located near local shops, dining, marinas, and the famous springs and outdoor attractions that make Crystal River such a sought-after destination. Property consists of (2) 7 PLEXES, (2) DUPLEXES, (1) SFR

740 NE 5TH AVENUE

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Related Properties

Exceptional mixed-use opportunity spanning 3.38 acres along the high-traffic West Gulf to Lake Highway corridor in Crystal River. The property consists of three potential income-producing homes across four parcels, creating an attractive investment for developers, professional users or portfolio investors. With zoning that includes Professional Service Office (PSO) for the two front residences, the site is ideal for medical, legal, or professional office conversion while maintaining interim income. The property is surrounded by the Meadowcrest medical community, a hub of established practices and offices, positioning this site as a strategic location for healthcare professionals seeking proximity to existing services. Its prime visibility along Highway 44 ensures maximum exposure for any professional or commercial use. Three parcels are included in this sale: 5985 West Gulf to Lake Highway, 1240 North Henry Point and 1241 North Henry Point. Public utilities are available, and configuration offers depth, access and flexibility for future development, expansion or continued residential leasing. This assemblage presents a rare balance of potential income and long-term redevelopment within one of Citrus County’s active professional corridors. Investors, owner-occupants and developers will appreciate the visibility, accessibility and scalability of this unique property.
#OM712937

CRYSTAL RIVER

5985 W GULF TO LAKE HIGHWAY

None Beds

None Baths

4,193 Sq.Ft.

$1,900,000

MLS#: OM712937

- property

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