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Gelfand Realty Miami Properties - Multi Family

301 S E, LEESBURG, FL 34748

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Multi Family - LEESBURG LEES

301 S E, LEESBURG, FL 34748

Date Sold 02-06-2020

Sold Price$715,000 Asking Price$750,000

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  • Days on market:

    7 day(s)

  • Original Price:

    $750,000

  • Price per sqft:

    $106.05

  • Tax Legal Description:

    LEESBURG, LEE'S SUB LOTS 1, 4, 5, BLK 1 PG 8 PG 102 ORB 1703 PG 404

  • Tax Year:

    2018

  • Property Type:

    Multi Family

  • Lease Term Remaining:

    12 Months

  • Construction Type:

    Block

  • Roof:

    Metal

  • Cooling Description:

    Wall/Window Unit(s)

  • Heating Description:

    ElectricWall Units / Window Unit

  • Exterior Features:

    Fenced

  • Special Listing Conditions:

    None

Description

$750,000 • living size area 7072 sqft

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%

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