965 Candlelight Blvd - Apartments FOR SALE


Brooksville, FL 34601- Brooksville Area
$11,000,000 USD
813-577-3837
965 Candlelight Blvd, Brooksville, FL for Sale
$11,000,000 USD
Apartments - FOR SALE
1/29
null | Request Cap Rate

965 Candlelight Blvd
Brooksville, FL 34601
Brooksville Area


HIGHLIGHTS

  • Property Overview: 111-unit garden-style community built in 1982, situated on 7.49 acres
  • Diverse Unit Mix: A mix of studio, one-, and two-bedroom floorplans appealing to a broad renter base; 80% of units are equipped with washer and dryer
  • Strong Leasing Momentum: 95% pre-leased with positive lease trade-outs, reflecting healthy demand
  • Recent Capital Improvements: Fresh exterior paint, landscaping and tree removal, fencing repairs, and upgraded concrete pads and walkways
  • Untapped Ancillary Income: A bulk internet and cable program offers immediate potential to grow other income
  • In-Unit Laundry Upside: Installing washer/dryer machines in every unit creates an immediate revenue stream while enhancing the resident experience

OVERVIEW

Candlelight Apartments is a 111-unit garden-style community built in 1982 on 7.49 acres in central Brooksville. Its mix of studio, one-, and two-bedroom floorplans appeals to a broad renter base, and leasing is strong at 95% pre-leased with positive trade-outs and no tenant more than 30 days delinquent. Ownership has completed recent capital improvements including fresh exterior paint, landscaping, fencing repairs, and upgraded concrete pads and walkways. The value-add path is clear: renovated one-bedroom units command an 14% premium over unrenovated units, and additional upside remains through a bulk internet and cable program and the installation of in-unit washer and dryer machines. Located in central Brooksville (34601) roughly 45 miles north of Tampa, the property offers direct Tampa Bay connectivity via the Suncoast Parkway (FL-589) and sits in Hernando County, one of the region's fastest-growing and most affordable counties. Major employers nearby include TGH Brooksville, HCA Florida Oak Hill Hospital, and Walmart.

FOR SALE DETAILS

PRICE

$11,000,000 USD

PRICE/SF

$182 USD /SF

# OF UNITS

111

PRICE/UNIT

$99,099

CAP RATE

Request Cap Rate

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Candlelight

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1982

PARKING SPACES

160

LAND DETAILS

LAND ACRES

7.49 AC

LAND SF

326,264 SF

ZONING

MF

APN/PARCEL ID

R28-422-19-0000-0060-0100,R28-422-19-0000-0060-0140

ASK ABOUT THIS PROPERTY

Mark SavareseFranklin StreetMore Info
813-577-3837

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Mark SavareseFranklin StreetMore Info
813-577-3837

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