Seller's Agent in 2024
Jason Asa
LPT REALTY, LLC
(407) 766-2560
3 in this area
393 Total Sales
1699 Us Highway 441 Leesburg, FL 34748
Estimated Value: $1,373,838
3
Beds
5
Baths
3,388
Sq Ft
$406/Sq Ft
Est. Value
Highlights
- 0.49 Acre Lot
- No HOA
- Ceramic Tile Flooring
- Solid Surface Countertops
- 1 Car Attached Garage
- Central Heating and Cooling System
About This Home
As of March 2024This owner operated portion of the property includes a Laundromat, Quadplex situated on one parcel located on the Northeast Corner of US Highway 441 (Main St.) and Michigan Avenue. The quadplex is fully leased and provides for a considerable amount of upside potential given that the current lease rates are slightly below market. The business operation of the Laundromat represents a very lucrative investment. The quadraplex & laundromat yields nearly $200k per year in gross revenues. These income producing assets generate a return over 9% based on the current list price of $1,650,000. It must be noted that this return also incorporates a labor expense of nearly $30k if a new owner prefers to hire an employee to manage the property. As such, if owner operated, the return on the investment would increase to nearly 11.0%. In addition to the substantial return this property will provide, the underlying land is also a major part of this investment that should not be overlooked. The adjacent property, 314 Michigan Ave, is also included with this sale. This property is a 2/2 and 1,141 sqft. This entire site at nearly 0.5 acres is located along one of the area’s major commercial thoroughfares. As the growth from the Villages and those areas surrounding the downtown Leesburg market area continue to expand, this market is primed for a redevelopment with numerous national retailers and uses that will continue to drive up land values.
Last Agent to Sell the Property
LPT REALTY, LLC Brokerage Phone: 888-883-8509 License #3148856 Listed on: 06/20/2023
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $5,860
Year Built
- Built in 1980
Lot Details
- 0.49 Acre Lot
- Additional Parcels
Parking
- 1 Car Attached Garage
Home Design
- Quadruplex
- Brick Exterior Construction
- Slab Foundation
- Shingle Roof
- Block Exterior
- Stucco
Interior Spaces
- 3,388 Sq Ft Home
- Ceramic Tile Flooring
Kitchen
- Range
- Microwave
- Solid Surface Countertops
Utilities
- Central Heating and Cooling System
- Cooling System Mounted To A Wall/Window
- Cable TV Available
Listing and Financial Details
- Visit Down Payment Resource Website
- Legal Lot and Block 00100 / 00D
- Assessor Parcel Number 30-19-25-0500-00D-001
Community Details
Overview
- No Home Owners Association
- 5 Units
- 3,388 Sq Ft Building
- Mount Vernon Subdivision
Building Details
- Operating Expense $70,500
- Gross Income $104,000
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
May 31, 2024
Sold by
Florida Trust Services Llc and 1699 Us Hwy 441 Land Trust
Bought by
1699 Us Hwy 441 Land Trust and Quick Find Properties Llc
Current Estimated Value
Purchase Details
Listed on
Jun 20, 2023
Closed on
Mar 14, 2024
Sold by
Curtis And Betty Ross Investments Llc
Bought by
1699 Us Hwy 441 Land Trust and Florida Trust
Seller's Agent
Jason Asa
LPT REALTY, LLC
Buyer's Agent
Scott Coldwell
COLDWELL REALTY SOLD GUARANTEE
List Price
$1,650,000
Sold Price
$1,389,375
Premium/Discount to List
-$260,625
-15.8%
Views
202
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-0.82%
Original Mortgage
$1,025,000
Interest Rate
6.64%
Mortgage Type
New Conventional
Purchase Details
Closed on
Oct 31, 2008
Sold by
Rosenblum Howard and Rosenblum Debbie
Bought by
Curtis & Betty Ross Investments Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$442,000
Interest Rate
6.11%
Mortgage Type
Future Advance Clause Open End Mortgage
Purchase Details
Closed on
Oct 30, 2006
Sold by
Ross Curtis Q
Bought by
Rosenblum Howard and Rosenblum Debbie
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$360,000
Interest Rate
6.25%
Mortgage Type
Commercial
Purchase Details
Closed on
Jun 27, 2003
Sold by
Dean Edgar T and Dean Mary H
Bought by
Ross Curtis Q
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$320,000
Interest Rate
5.16%
Mortgage Type
Commercial
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| 1699 Us Hwy 441 Land Trust | -- | None Listed On Document | |
| 1699 Us Hwy 441 Land Trust | $1,389,400 | None Listed On Document | |
| Curtis & Betty Ross Investments Llc | $378,000 | Attorney | |
| Rosenblum Howard | $940,000 | Brokers Title Leesburg Llc | |
| Ross Curtis Q | $72,000 | -- | |
| Ross Curtis Q | $153,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | 1699 Us Hwy 441 Land Trust | $1,025,000 | |
| Previous Owner | Curtis & Betty Ross Investments Llc | $442,000 | |
| Previous Owner | Rosenblum Howard | $497,000 | |
| Previous Owner | Rosenblum Howard | $360,000 | |
| Previous Owner | Ross Curtis Q | $320,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 03/14/2024 03/14/24 | Sold | $1,389,375 | -7.4% | $410 / Sq Ft |
| 01/19/2024 01/19/24 | Pending | -- | -- | -- |
| 08/31/2023 08/31/23 | Price Changed | $1,500,000 | -9.1% | $443 / Sq Ft |
| 08/07/2023 08/07/23 | For Sale | $1,650,000 | 0.0% | $487 / Sq Ft |
| 06/29/2023 06/29/23 | Pending | -- | -- | -- |
| 06/20/2023 06/20/23 | For Sale | $1,650,000 | -- | $487 / Sq Ft |
Source: Stellar MLS
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $6,420 | $401,234 | $171,612 | $229,622 |
| 2024 | $6,420 | $401,234 | $171,612 | $229,622 |
| 2023 | $6,420 | $373,710 | $156,022 | $217,688 |
| 2022 | $5,860 | $328,617 | $141,838 | $186,779 |
| 2021 | $5,387 | $302,410 | $0 | $0 |
| 2020 | $5,724 | $302,410 | $0 | $0 |
| 2019 | $5,497 | $286,398 | $0 | $0 |
| 2018 | $5,416 | $286,398 | $0 | $0 |
| 2017 | $5,321 | $280,065 | $0 | $0 |
| 2016 | $5,219 | $270,150 | $0 | $0 |
| 2015 | $5,314 | $267,573 | $0 | $0 |
| 2014 | $5,078 | $265,230 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
Jason Asa
-
Jasmin Pukke
J
Seller Co-Listing Agent in 2024
Jasmin Pukke
LPT REALTY, LLC
(561) 430-9915
2 in this area
55 Total Sales
-
Scott Coldwell
Buyer's Agent in 2024
Scott Coldwell
COLDWELL REALTY SOLD GUARANTEE
(352) 209-0000
3 in this area
1,057 Total Sales
Map
Source: Stellar MLS
MLS Number: O6118736
APN: 30-19-25-0801-00D-00100
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
Listing Information presented by local MLS brokerage: Ten-X - (888)-952-6393
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