This is 10 minutes north of Gainesville, FL in High Springs, which was named the “Friendliest Small Town” by Florida Magazine and has a $94,421 median household income. In addition to the 28 units, which are on one parcel, the same owner is selling 2 quadplex buildings about 2 miles away. • 28 units at 20420 NW 243rd Drive, High Springs, FL (Villas at High Springs) o 7 - one bedrooms at 674 SF o 17 - two bedrooms at 764 SF o 4 - three bedrooms at 967 SF o 21,385 Total SF • Average in place rent is $960/month • 100% leased and they ran 98% financial occupancy in the trailing 12 months • 1 of 5 buildings had roof replaced in 2025 at $30K. The other 4 roofs are 2003 • I got a loan quote from a bank at (see the marketing package): o 70% LTV, 6.25% rate, 30 year amo, 5 year term + 5 year option, 1 year of interest only • Price is $2,650,000 (only $95k/unit) o NOI is $1907k (true 7.06% cap rate) • All single story buildings, park right up front • Built 1983 • Currently self-managed but I have good local management recommendations. • Reason for Selling: Owned by a larger investment firm out of NY that bought this in 2019. Their investment criteria has now grown to only 100+ unit assets so this asset is being sold. • The 6 acre property is zoned for up to 72 units