$10,000,000
RENTED JUN 19, 2025

Estimated payment $55,757/month

Total Views 3,355
-- Bed
-- Bath
26,446 Sq Ft
$378 Price per Sq Ft

Highlights

  • No HOA
  • Eat-In Kitchen
  • Central Heating and Cooling System
  • King High School Rated A-
  • Solid Wood Cabinet

About This Home

Now available is a rare and professionally managed multifamily portfolio consisting of 44 rental units spread across 22 separate buildings, along with a two-story single-family home currently used as an on-site office and maintenance storage facility, complete with a two-car garage. The unit mix includes 33 two-bedroom, one-bath units; 10 one-bedroom, one-bath units; and one two-story residence currently functioning as the property management hub. The portfolio features a variety of HVAC systems, including central heating and air, wall units, and mini-splits, offering flexibility and cost-effective maintenance options. The grounds are meticulously maintained with manicured landscaping and professionally trimmed trees, contributing to tenant satisfaction and curb appeal. Two on-site coin-operated laundry facilities serve the tenant base—already equipped with brand-new washers and dryers adding further convenience and income potential. The buildings sits on Large and smaller tax folios, providing flexible financing options and the ability to utilize conventional residential loans on smaller parcels. Located within a federally designated Opportunity Zone, this asset presents a significant tax-advantaged investment opportunity for qualified buyers. Current market rents, supported by documentation, average $1,686 ea month for one-bedroom units and $1,978 ea month for two-bedroom units. In addition to stable cash flow from rental income, laundry operations there is the potential for increased revenue through future rent adjustments as leases come up for renewal. Whether you're a seasoned investor or seeking to take advantage of Opportunity Zone incentives, this high-performing, income-generating asset offers both immediate income and long-term appreciation potential. 29,373 Sq Ft Total 26,446 Heated Sq Ft Total, 151,098 Sq Ft land, 6.57% CAP Rate with current rents, 8.3% CAP Rate with the Fair Market Value increased rent (Documentation can be provided)

Listing Agent

Lori Rutherford

RE/MAX MARKETING SPECIALISTS Brokerage Phone: 352-686-0540 License #3464216 Listed on: 06/13/2025

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,350

Year Built

  • Built in 1972

Lot Details

  • 0.31 Acre Lot
  • Additional Parcels

Home Design

  • Slab Foundation
  • Shingle Roof
  • Block Exterior

Interior Spaces

  • 26,446 Sq Ft Home
  • Window Treatments

Kitchen

  • Eat-In Kitchen
  • Solid Wood Cabinet

Utilities

  • Central Heating and Cooling System
  • Cooling System Mounted To A Wall/Window
  • Thermostat
  • Well
  • Septic Tank
  • Cable TV Available

Listing and Financial Details

  • Legal Lot and Block 9 / 2
  • Assessor Parcel Number U-18-28-20-25F-000002-00009.0

Community Details

Overview

  • No Home Owners Association
  • 44 Units
  • 29,378 Sq Ft Building
  • Terrace Highlands Subdivision

Building Details

  • 44 Separate Electric Meters
  • Gross Income $845,880

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,350

Year Built

Built in 1972

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi Family
  • Construction Materials: Block
  • Fireplace: No
  • Living Area: 26446
  • Lot Size Acres: 0.31
  • New Construction: No
  • Year Built: 1972
  • Building Area Total: 29378
  • Lease Term: Twelve Months
  • Lot Size Sq Ft: 151098
  • Number Of Lots: 6
  • Tenant Pays: Electricity
  • Directions to Property: 301/Fowler Ave
  • Status: Active
  • Ownership: Fee Simple
  • Escrow State: FL
  • List Office Head Office Key Nume: 1043989
  • RATIO Current Price By Calculate: 378.13
  • Total Acreage: 2 to less than 5
  • Unit Number YN: 0
  • Water Access YN: 0
  • Attribution Contact: 352-686-0540
  • Tax Year: 2024
  • Special Features: VirtualTour

Interior Features

  • Living Area Units: Square Feet
  • Interior Amenities: Eat-in Kitchen, Primary Bedroom Main Floor, Solid Wood Cabinets, Thermostat, Window Treatments
  • Foundation Details: Slab
  • Levels: One
  • Spa Yn: No
  • Street Number Modifier: 9408
  • Living Area Meters: 2456.91

Exterior Features

  • Exterior Features: Outbuildings
  • Roof: Shingle
  • Pool Private: No
  • Waterfront: No
  • Road Surface Type: Asphalt
  • Water Extras YN: 0
  • Water View YN: 0
  • Waterfront Feet Total: 0

Garage/Parking

  • Carport Y N: No
  • Garage Yn: No

Utilities

  • Utilities: Cable Available, Electricity Available, Sewer Connected, Water Connected
  • Cooling: Central Air, Wall/Window Unit(s)
  • Heating: Central, Other, Ductless
  • Laundry Features: Other
  • Sewer: Septic Tank
  • Water Source: Well
  • Individually Metered: Electric

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Association 2 YN: 0

Fee Information

  • Total Annual Fees: 0.00
  • Total Monthly Fees: 0.00

Lot Info

  • Zoning: RDC-12
  • Parcel Number: U-18-28-20-25F-000002-00009.0
  • Additional Parcels Description: A0612890300
  • Additional Parcels: Yes
  • Flood Zone Code: X
  • Lot Size Square Meters: 14037

Rental Info

  • Total Actual Rent: 70490
  • Terms Of Lease: Renewal Option

Multi Family

  • Gross Income: 845880
  • Number Of Units Total: 44
  • Number Of Separate Electric Meters: 44
  • Total Num Buildings: 22
  • Unit Count: 0
  • Est Annual Market Income: 1027608.00

Tax Info

  • Tax Annual Amount: 6350.17
  • Tax Block: 2
  • Tax Book Number: 22-67
  • Tax Lot: 9

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/19/2025 06/19/25 Rented $1,250 0.0% --
06/13/2025 06/13/25 For Sale $10,000,000 0.0% $378 / Sq Ft
05/13/2025 05/13/25 For Rent $1,250 0.0% --
06/21/2024 06/21/24 Sold $500,000 -16.7% $189 / Sq Ft
06/05/2024 06/05/24 Pending -- -- --
02/29/2024 02/29/24 For Sale $599,900 0.0% $227 / Sq Ft
02/25/2024 02/25/24 Pending -- -- --
02/12/2024 02/12/24 Price Changed $599,900 -7.7% $227 / Sq Ft
01/29/2024 01/29/24 Price Changed $649,900 -5.8% $246 / Sq Ft
11/30/2023 11/30/23 Price Changed $689,900 -1.4% $261 / Sq Ft
11/08/2023 11/08/23 For Sale $699,900 -- $265 / Sq Ft
Source: Stellar MLS

Source: Stellar MLS

MLS Number: TB8396729

Stellar MLS

APN: U18282025F000002000090