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1259 S Elmwood Dr 12 Unit Apartment Building $1,100,000 ($91,667/Unit) Inverness, FL 34450
Executive Summary
***WATERFRONT GULF TO LAKE APARTMENTS IS NOW AVAILABLE FOR SALE!*** 10 completely renovated units top to bottom with 2 additional 2 bedroom units with washer/dryer hookups framed and ready to be finished for additional income if so desired. (All currently vacant due to renovations) (1) efficiency, (8) one bedroom & (1) two bedroom. These units should bring a minimum of 1000 a month and as much as 2000 mo. Current owner has spent more than 60k on the septic system, ALL NEW SYSTEM (biodegradable) About 120k completely new electrical system (sub panel per unit installed) 100k on completely new plumbing system. 50k on the new ac units with foam insulation on the roofing. 20k for new water tanks and filtration system. 200k for interior cabinets/flooring/ fixtures/appliances and painting. 20k complete outside renovations & painting. This is an excellent investment property with the right management. Possible Airbnb would bring HUGE income as boat ramp leads to chain of lakes. Come take a look!
Property Facts
| Price | $1,100,000 | Property Subtype | Apartment |
| Price Per Unit | $91,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.63 AC |
| Sale Condition | 1031 Exchange | Building Size | 5,500 SF |
| No. Units | 12 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1970/2025 |
| Zoning | CLC - Coastal Lakes Commercial | ||
| Price | $1,100,000 |
| Price Per Unit | $91,667 |
| Sale Type | Investment |
| Sale Condition | 1031 Exchange |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.63 AC |
| Building Size | 5,500 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1970/2025 |
| Zoning | CLC - Coastal Lakes Commercial |
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Not walkable
10/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 20E-19S-11-0020-00040-0050 | Improvements Assessment | $478,570 |
| Land Assessment | $43,500 | Total Assessment | $522,070 |
Property Taxes
Parcel Number
20E-19S-11-0020-00040-0050
Land Assessment
$43,500
Improvements Assessment
$478,570
Total Assessment
$522,070
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1259 S Elmwood Dr