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110 Freesia Street 8 Unit Apartment Building $1,200,000 ($150,000/Unit) 13% Cap Rate Everglades City, FL 34139
INVESTMENT HIGHLIGHTS
- Can be rented seasonal or local
- Centrally Located
- Dock is leased from the city with two slips
EXECUTIVE SUMMARY
I am seeking offers for my 8-unit multi-family apartment complex in Everglades City, featuring two quads that have undergone recent renovations incorporating flood mitigation measures. The units consist of 1 bedroom, 1 bathroom, 640 sq. ft. with an enclosed porch, except for three of units having 714 sq. ft. without a porch. Half are fully rented at $1,600/month, while the others are seasonally rented between $100-150/night. The complex occupies three 0.33-acre lots, with one serving as parking and holding potential for additional development thanks to commercial multi-family zoning. The units are deeded individually with each owning 1/8 of the common areas. Offers in the range of $1.2 million, or $150,000 per unit, are being entertained.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $1,200,000 | Apartment Style | Low-Rise |
| Price Per Unit | $150,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.04 AC |
| Cap Rate | 13% | Building Size | 4,800 SF |
| Gross Rent Multiplier | 7.81 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1960/2024 |
| Property Subtype | Apartment | ||
| Zoning | Multi-Family, Commercial - Zoned Multi-Family inside City of Everglades City | ||
| Price | $1,200,000 |
| Price Per Unit | $150,000 |
| Sale Type | Investment |
| Cap Rate | 13% |
| Gross Rent Multiplier | 7.81 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.04 AC |
| Building Size | 4,800 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1960/2024 |
| Zoning | Multi-Family, Commercial - Zoned Multi-Family inside City of Everglades City |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Microwave
- Heating
- Ceiling Fans
- Kitchen
- High Speed Internet Access
- Refrigerator
- Stainless Steel Appliances
- Range
- Tub/Shower
- Dock
- Family Room
- Instant Hot Water
- Mud Room
- Porch
- Vinyl Flooring
SITE AMENITIES
- Private Bathroom
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | $2,300 | 590 - 714 |
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Proex Services Inc
110 Freesia Street
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