643 W Oak Terrace Dr - Apartments FOR SALE


Leesburg, FL 34748
$500,000 USD
352-406-2149
643 W Oak Terrace Dr, Leesburg, FL for Sale
$500,000 USD
Apartments - FOR SALE
1/21
null | 8.18% Cap Rate

643 W Oak Terrace Dr
Leesburg, FL 34748


OVERVIEW

Excellent investment opportunity in one of Florida's fastest growing counties! This well-established, income-producing property includes four 2BR/2BA condos (approx. 1,089 sq. ft. each). The units feature a spacious split-bedroom floor plan, private screened patios, and in-unit washer/dryer hookups. The HOA provides low-maintenance ownership covering exterior walls and roof maintenance, lawn care, and common area insurance. Each unit is assigned an onsite parking space and there are 4 open unassigned spaces. The property location is a significant asset, benefiting from its proximity to Beacon College, UF Hospital, public transportation and historic downtown Leesburg where residents can enjoy local restaurants, shops, and Ski Beach/Venetian Gardens Park on Lake Harris. Lake County ranks as one of Florida's most rapidly expanding counties, with considerable population growth in recent years that has increased the need for rental units and affordable housing. This is an excellent opportunity for an investor seeking consistent rental income from all four units or an owner-occupant looking to live in one unit and receive income from the remaining three units. Don't miss this turnkey multi-unit opportunity.

FOR SALE DETAILS

PRICE

$500,000 USD

PRICE/SF

$115 USD /SF

# OF UNITS

4

PRICE/UNIT

$125,000

CAP RATE

8.18%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1980

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,178 SF

ZONING

-

APN/PARCEL ID

23-19-24-1630-000-0010A,23-19-24-1630-000-0020A,23-19-24-1630-000-0030A,23-19-24-1630-000-0040A

ASK ABOUT THIS PROPERTY

Jeff CarlinoCarlino Commercial Group, IncMore Info
352-406-2149

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Jeff CarlinoCarlino Commercial Group, IncMore Info
352-406-2149

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