10931 W Tidewater Cir - Apartments FOR SALE


Crystal River, FL 34428
$3,295,000 USD
352-623-1196
10931 W Tidewater Cir, Crystal River, FL for Sale
$3,295,000 USD
Apartments - FOR SALE
1/21
null | Request Cap Rate

10931 W Tidewater Cir
Crystal River, FL 34428


HIGHLIGHTS

  • Property is heavily damaged by Hurricane Helene and needs $1,200,000 in repairs.
  • Property also includes a separate 4.87 acre adjacent buildable lot.
  • The 36-unit apartment complex is classified as a multi-family residence, which may be ideal for investment or multi-generational living.

OVERVIEW

This is a Developers Dream that includes an additional 4.87 acre buildable vacant lot that is directly adjacent to this 36-Unit Apartment Complex that is developable for up to an additional 76 units. The address of the vacant adjacent lot is: 10850 W. Tidewater Circle, Crystal River, Florida. The 36-Unit Apartment Complex Property is heavily damaged by Hurricane Helene and needs $1,200,000 in repairs. (Licensed General Contractors Estimate is attached below in the attached documents section. As mentioned above, as an extra bonus, this property also includes a separate 4.87 acre adjacent vacant lot that is a buildable lot for up to an additional 76 units. (See aerial view and you can view the adjacent lot.) The address of the adjacent lot that goes with this property has a separate address of 10850 W. Tidewater Circle, Crystal River, Florida. As you can see by the attached PDF attachment documents section below, this 36-unit apartment complex was appraised by a certified appraiser at a pre-hurricane fair-market value of $4,588,000. You can also see by the attached PDF attachment document section below a letter from the City of Crystal River, Florida that this property was deemed "NON-SUBSTANTIAL DAMAGED." Which means the complex can be completely rehabbed in its current structure. And thirdly, as you can see by the attached PDF attachment document section below that there is a certified licensed General Contractors complete cost estimate breakdown to completely rehab the entire complex, and includes an extra bonus of installing completely new roofs which is reflected in the total $1,200,000 repair costs. These 2 property addresses are a developers dream and this opportunity won't last long, so call immediately.

FOR SALE DETAILS

PRICE

$3,295,000 USD

PRICE/SF

$110 USD /SF

# OF UNITS

36

PRICE/UNIT

$91,528

CAP RATE

Request Cap Rate

% LEASED

0%

STATUS

Under Renovation

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Seven Rivers Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1984

PARKING SPACES

-

LAND DETAILS

LAND ACRES

5.32 AC

LAND SF

231,739 SF

ZONING

R3

APN/PARCEL ID

17E-18S-08-0000-33400 & 17E-18S-08 33000

ASK ABOUT THIS PROPERTY

Tim TaylorLeisure Dreams LLCMore Info
352-623-1196

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Tim TaylorLeisure Dreams LLCMore Info
352-623-1196

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.