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709 N 17th Avenue - Stonegate Apartments, Arcadia, FL

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709 N 17th Avenue - Stonegate Apartments

Arcadia, FL 34266

Property Type:Multi-Family Number of Units:49 Status:Existing Year Built:1984
Stories:1 Building Size:32,485 SF Land Area:3.13 AC (136,343 SF)
For Sale Price:$1,750,000 Price/Unit:$35,714.29 Cap Rate:- GRM:-

Parking:1.97 Parking Spaces / 1,000 SF

Sale Notes:
Garden apartments primarily occupied by 40+ year old tenants.
Historically 90 to 100% occupied. All tenants are on annual leases.
Currently 10 units are being renovated, the remaining 39 are all leased and the 10 undergoing renovation have a waiting list.
Stone gate provides safe affordable housing for low income service & government workers in the area.
3.17 Acres located in the heart of Arcadia's Education and Hospital district.
The property abuts the Desoto County High School, Is a block from the Department of Education HQ, and three blocks from the Adult Education Campus. Two Hospitals are within a one mile radius of the property. Making it an ideal Garden Apartment complex for teachers and health care workers as well as County employees.
Each unit has separately metered Water & Electricity.

CENTURY 21 - Aztec & Associates
Ray Brunner
(941) 629-3188

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