600 W Oak Terrace Dr, Leesburg, FL

Real Estate

For Sale

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Key Facts
Description
Map

Key Facts

Type Multi Family

Levels Residential Income

Size 39524 sqft

Garage No

Taxes $7,979

Days Active 1

Lot Size

Approx. Age 1980

Avg. Price Per Sqft $164

MLS® Number G5099082

Property Address:

Average square foot calculated using Size range provided by listing agent.

Description

This 48-unit apartment complex offers a turn-key solution for investors seeking a stable income stream with a single tenant that ensures minimal management effort. The entire property is leased by an accredited private 4-year college founded in 1989. With students from across the country and internationally, the college's continued growth and established reputation ensures a strong and reliable tenant, making this a truly hands-off investment. Residents enjoy modern living spaces with updated vinyl flooring and recently updated kitchens and bathrooms in most units. One of the standout features of this property is its stunning Outdoor Oasis courtyard. This inviting outdoor space includes brick walkways, spacious patios, two huge gazebos, and a charming brick fireplace, perfect for gatherings or relaxation. Beautiful stone flower beds, new palm trees, and fresh sod create a serene environment, all maintained by an efficient irrigation system. Other Amenities included an on-site laundry facility and management office, electronic locks on all apartments, and plenty of parking. Other recent major updates include roof replacement on all the building in 2020, robust gutter and drainage system, exterior lighting, security cameras and gates, and the majority of the HVAC systems have been replaced within the last five years. The property location is a significant asset, benefiting from its proximity to historic downtown Leesburg where residents can enjoy local restaurants, shops, and Ski Beach/Venetian Park on Lake Harris. It's also conveniently situated approximately 56 miles from Orlando International Airport and within a two-hour drive of stunning beaches on both the Atlantic and Gulf coasts. Leesburg, FL, has seen significant growth in recent years, with several large employers near this property increasing the demand for affordable housing in the area. AN ADDITIONAL 2.68-ACRE ADJACENT PARCEL that offers the opportunity to possibly build up to an additional 48 units is also available. (MLS # G5099161) This is an opportunity not to be missed—call today for more information!Show Description

MLS® NumberG5099082

Laundry LevelCommon Area

Central VacNo

FireplaceNo

Acreage2.35

ExteriorLighting, Rain Gutters

GarageNo

Approx. Age1980

Basement

Driveway

Garage Spaces

HeatCentral

A/CCentral Air

Heating Fuel

Extras

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