Leesburg, FL 34748,301 S EAST ST
Leesburg, FL 34748,301 S EAST ST
Leesburg, FL 34748,301 S EAST ST
Leesburg, FL 34748,301 S EAST ST
Leesburg, FL 34748,301 S EAST ST
Leesburg, FL 34748,301 S EAST ST
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$715,000

$750,000

4.7%
Est.Price: ?

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Est. payment /mo

7,072 SqFt


SOLD DATE : 02/06/2020

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

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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Stellar MLS
Listed by BLUE PEAK REALTY LLC
Bought with BLUE PEAK REALTY LLC
agent-avatar

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(904) 377-4782

damon.a.lee@gmail.com

1965 A1a S, St Augustine, FL, 32080, USA

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