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301 S Cedar Avenue - Mia's Apartments, Sanford, FL

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301 S Cedar Avenue - Mia's Apartments

Sanford, FL 32771-1110 - Sanford MF Submarket

Property Type:Multi-Family Number of Units:7 Status:Existing Year Built:2007
Stories:1 Building Size:6,040 SF Land Area:.72 AC (31,363 SF)
For Sale Price:$575,000 Price/Unit:$82,142.86 Cap Rate:7.50 % GRM:-

Parking:2 Parking Spaces / 1,000 SF

Cedar Avenue Apartments is a seven unit, one-story apartment building located in Sanford, Florida. This asset is situated on a 0.72 acre site that was constructed in 2008 of concrete block and has a unit mix of three one bedroom/one-bath and four two-bedroom/two-bath units. The tenants enjoy spacious floor plans with the 1 bedrooms featuring 764 sq. ft. and the 2 bedroom units fea turing 909-965 sq. ft. Water/sewage is included in rent but the tenants are responsible for their own electricity.

Cedar Grove Apartments has income restrictions in place for senior citizens with low income. Residents must meet the income requirements and be over the age of 62.
Cedar Avenue is located Sanford, Florida in Seminole County. It is less than 15 minutes away from Orlando-Sanford International Airport, Central Florida Regional Hospital, Lake Monroe, and Lake Monroe Wayside Park.
Sanford sits on the south shore of Lake Monroe, providing a waterfront backdrop for walking, jogging, or just enjoying the natural beauty. RiverWalk has gazebos and swinging benches throughout the 1.2 miles of pedestrian walking paths.

Sale Notes:
Scroll down to attachments below and click DOWNLOAD SALES BROCHURE for additional info.

Mia's Apartments is a 7-unit 65+ senior-living apartment building. This beautiful Class-A one-story building was built in 2007 and cost $1,100,000 to build. It features a concrete block construction, a painted stucco finish, central a/c, concrete parking lot (not asphalt), underground gutter system around the building, roof gutter system that flows under the sidewalks, on-site well for irrigation, city water for tenants drinking, outside security lights, ADA compliant apartments, washer/dryers in all units, and MORE!

This building has three one-bedroom/one-bathroom units with 764 square feet, two two-bedroom/one-bathroom units with 909 square feet, and two two-bedroom/one-bathroom units with 965 square feet.

This is an ideal investment for the investor that is looking for a STABLE and easy-to-self-manage property. All of these tenants are long term and stay for multiple years. Vacancy is never an issue here. All of the tenants are over 65 years old and majority of the rent comes from Section-8 direct deposit to the owner's bank account.

Florida Realty Investments
Christopher Minchin
(321) 747-3217

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