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Gelfand Realty Miami Properties - Multi Family

1403 E ALFRED, TAVARES, FL 32778

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Multi Family -

1403 E ALFRED, TAVARES, FL 32778

Date Sold 06-04-2018

Sold Price$660,000 Asking Price$699,000

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  • Days on market:

    77 day(s)

  • Original Price:

    $679,000

  • Price per sqft:

    $107.27

  • Tax Legal Description:

    TAVARES, ST-CLAIR-ABRAMS EXT S 245 FT OF W 115 FT OF BLK 15 PB 1 PG 53 ORB 2572 PG 1553

  • Tax Year:

    2017

  • Property Type:

    Multi Family

  • Special Listing Conditions:

    None

Description

$699,000 • living size area 6516 sqft

Discounted apartment complex!!! prime location. tons of potential. property needs tlc and new ownership. buildings are poorly managed but can generate over $19,800/month when fully operational. amazing living accommodations for an on-site manager. value add opportunity as property needs repairs. located minutes from downtown tavares, fl which seen 60%+ population growth in the last 17 years. strong rental demand in the area. only 45 mins from orlando, fl 15 x efficiency units will rent at $750/month 3 x 1 bedroom units will rent at $850/month 6 x 2 bedroom units will rent at $1000/month combined gross income of $237,600/year is possible!!! property will be worth $1,200,000 after about $150,000 in repairs and will generate a 20% gross return on investment!

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