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301 S EAST ST Leesburg, FL 34748
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Key Details
Sold Price $715,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 7,072 sqft
Price per Sqft $101
Subdivision Leesburg Lees
MLS Listing ID O5831318
Sold Date 02/06/20
Construction Status Inspections
HOA Y/N No
Year Built 1957
Annual Tax Amount $3,163
Lot Size 0.480 Acres
Acres 0.48
Property Description
This 12 unit apartment building is ready for a long term buyer looking to gain equity and add value after purchasing. Of the twelve units, nine have been gutted and renovated. Ten units are all rented at $700 per month, One unit is vacant and ready for remodeling and One unit is occupied on a month to month lease. The roof will need to be replaced at some point in the near future. Property management is currently in place and will be offered for any buyer after closing. Cost Analysis Performed as Rental Property is listed below.
In:
Rent - $97,500.00
Out:
(Annual) Property Taxes - $6,115.00
(Annual) Estimated Insurance - $5,421.00
(Annual) Property Management (Optional) -
$5,850.00
(Annual) Estimated Utilities/Lawn/Misc. $3,510.00
Total Costs - $20,896.00
Net: $76,604.00
Earn:
Total yearly net equates to - $76,604.00
Total monthly gross equates to - $8,125.00
Price - $750,000.00
Net Cap Rate -10.21%
Location
State FL
County Lake
Community Leesburg Lees
Zoning R-3
Interior
Heating Electric, Wall Units / Window Unit
Cooling Wall/Window Unit(s)
Fireplace false
Exterior
Exterior Feature Fence
Utilities Available Cable Available, Electricity Available, Phone Available, Public, Sewer Available, Street Lights, Water - Multiple Meters
Waterfront false
Roof Type Metal
Garage false
Private Pool No
Building
Foundation Slab
Lot Size Range Up to 10,889 Sq. Ft.
Sewer Public Sewer
Water Private, Public
Structure Type Block
New Construction false
Construction Status Inspections
Others
Senior Community No
Ownership Fee Simple
Special Listing Condition None
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Bought with BLUE PEAK REALTY LLC
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