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.