11585 SE 59th Ave - Apartments FOR SALE


Belleview, FL 34420
$475,000 USD
813-478-1735
11585 SE 59th Ave, Belleview, FL for Sale
$475,000 USD
Apartments - FOR SALE
1/8
null | Request Cap Rate

11585 SE 59th Ave
Belleview, FL 34420


OVERVIEW

Well-located 6-unit multifamily investment opportunity in Belleview, Florida, featuring two concrete block buildings with three units each. The property offers a straightforward unit mix and stable in-place income with immediate upside potential through rent growth and lease stabilization. Each unit is currently leased on a month-to-month basis, providing flexibility for a new owner to reposition, renovate, or implement market-rate rents over time. Current rents average approximately $700 per unit, which are below prevailing market levels for comparable units in the area. Recent capital improvements include a new roof, reducing near-term maintenance exposure. The seller is offering a $60,000 credit at closing to address prior sinkhole remediation, allowing a buyer to control the scope and execution of the repair post-closing. This property is well suited for an investor seeking a value-add multifamily asset with stable cash flow, low management complexity, and upside through operational improvements in a growing Marion County submarket.

FOR SALE DETAILS

PRICE

$475,000 USD

PRICE/SF

$152 USD /SF

# OF UNITS

6

PRICE/UNIT

$79,167

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1981

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.41 AC

LAND SF

17,999 SF

ZONING

R3

APN/PARCEL ID

39057-000-00

ASK ABOUT THIS PROPERTY

Erin FreelBoyd Real Estate, LLCMore Info
813-478-1735

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Erin FreelBoyd Real Estate, LLCMore Info
813-478-1735

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