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- LoopNet Team
12076 S Ohio St
Dunnellon, FL 34431
River Walk Apartments · Multifamily Property For Sale
·
24 Units
INVESTMENT HIGHLIGHTS
- Unit Mix of 1 Bedroom and 2 Bedroom Units
- Washer & Dryers in Every Unit
- Desirable Proforma Cash On Cash 10.37%
- Value Add Opportunity with Gradual Rent Increases
- Desirable Proforma Cap Rate 6.84%
- Capital Improvements of over $75,000 Recently Completed Including 16 HVAC, 21 Water Heaters, 32 Toilets, Exterior Paint, Several Carpet Replacements
PROPERTY FACTS
| No. Units | 24 | Building Size | 21,616 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1990/2016 |
| Building Class | B | Parking Ratio | 1.53/1,000 SF |
| Lot Size | 1.00 AC | ||
| Zoning | R-3 - Residential | ||
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 1.00 AC |
| Building Size | 21,616 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1990/2016 |
| Parking Ratio | 1.53/1,000 SF |
| Zoning | R-3 - Residential |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Views
- Walk-In Closets
- Carpet
- Patio
- Vinyl Flooring
SITE AMENITIES
- Renters Insurance Program
ABOUT 12076 S OHIO ST , DUNNELLON, FL 34431
A twenty-four-unit multifamily investment opportunity in Dunnellon, FL. A turnkey investment with value add opportunities through continuing gradual rent increases currently being implemented. The property management company who has managed the property for nearly four years would like to continue, this adds stability and lowers the risk of this investment. The property is of concrete construction with exterior stucco walls and the foundation is of reinforced concrete. It has central air conditioning. Flooring is a mix of carpet in the common areas and tile or vinyl in the kitchens and bathrooms. The property has washer and dryers included in every unit, as well as a comfortable patio for residents to relax. The units also have a storage closet as well as walk in closets. It is strategically located in the downtown area creating great visibility and desirability from residents. Historically, it has had a high level of occupancy. There are three buildings built in 1990. It has been priced for sale at an attractive market cap rate of 6.30% based on current market rents. The proforma cap rate is 6.84% and can be achieved by increasing rents by $40. This type of investment is hard to find in the United States current compressing cap rate environment, especially in Florida where there is no state income tax. Capital improvements of over $75,000 were completed within the last 5 years. They include 16 HVAC units, 21 water heaters, 28 toilet replacements, several carpet replacements, exterior paint, new appliances in several units and more. For access to the offering memorandum, financials and schedule a property visit please fill out the attached confidentiality agreement and send it to the contact email Info@CosoCapitalGroup.com. All offers due by July 30th. PLEASE DO NOT DISTURB THE RESIDENTS.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 12 | $687.50 | 675 |
| 2+1 | 4 | $762.50 | 775 |
| 2+2 | 8 | $770.00 | 833 |
PROPERTY TAXES
| Parcel Number | 3380-0498-00 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,895,534 |
PROPERTY TAXES
