125 N Davis Ln - Apartments FOR SALE


Defuniak Springs, FL 32433
$5,895,000 USD
850-240-3122
125 N Davis Ln, Defuniak Springs, FL for Sale
$5,895,000 USD
Apartments - FOR SALE
1/22
null | 7.23% Cap Rate

125 N Davis Ln
Defuniak Springs, FL 32433


HIGHLIGHTS

  • Recent 2023 renovation including new metal roofs
  • Low maintenance hard coat stucco exteriors, freshly painted in 2023
  • Assumable Freddie Mac loan at 3.54% w/ approx. 6 years remaining
  • 55 modern and spacious units

OVERVIEW

ntroducing a prime investment opportunity in Northwest Florida! Discover a meticulously renovated 42,000 SF, 55-unit multifamily gem, boasting a prime location zoned for Multifamily use. This property is a beacon of opportunity, with a track record of exceptional performance evidenced by its impressive 95% occupancy rate. Featuring modern amenities and thoughtful design, this low-rise/garden property represents a compelling prospect for prospective investors seeking a turnkey opportunity in the flourishing Northwest Florida market. Current in-place ASSUMABLE Freddie MAC first mortgage: Origination: March 24, 2022 Loan Amount: $3,120,000 Term: 10 yrs. Amort: 30 yrs. Rate: 3.54% Don't miss your chance to add this high-performing asset with below market debt to your portfolio!

FOR SALE DETAILS

PRICE

$5,895,000 USD

PRICE/SF

$140 USD /SF

# OF UNITS

55

PRICE/UNIT

$107,182

CAP RATE

7.23%

% LEASED

94%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Riviera Place Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1984

PARKING SPACES

84

LAND DETAILS

LAND ACRES

3.4 AC

LAND SF

148,104 SF

ZONING

R-2

APN/PARCEL ID

25-3N-19-19070-001-536A

ASK ABOUT THIS PROPERTY

Gordon MacLeanSVN Riviera CommercialMore Info
850-240-3122

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

Gordon MacLeanSVN Riviera CommercialMore Info
850-240-3122

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