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Lakefront Development 2105 US 27 S 9 Unit Apartment Building $2,999,999 ($333,333/Unit) 4.23% Cap Rate Lake Placid, FL 33852

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Executive Summary

6.05-acre waterfront property on Lake Grassy with frontage on Highway 27. Includes a 9-unit complex built in 2008: five single-story (2 beds, 2 baths) and four two-story units (3 beds, 2.5 baths). Fully paved roads, utilities, and a valid wastewater permit through 2029 make this a shovel-ready project. Approved plans for 42 additional 3-bed, 2.5-bath units (approx. 1,565 sq. ft.) can be adapted to suit your vision. Also features space for a community pool. Existing income-producing units, highway visibility, and water access make it an ideal turnkey opportunity for developers or investors.

Villa Del Mar_UPDATED-compressed

Offering Memorandum

Property Facts

Price	$2,999,999	Apartment Style	Low-Rise
Price Per Unit	$333,333	Building Class	B
Sale Type	Investment	Lot Size	6.49 AC
Cap Rate	4.23%	Building Size	14,736 SF
Sale Conditions	Build to Suit Redevelopment Project	No. Stories	2
No. Units	9	Year Built	2008
Property Type	Multifamily	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Property Subtype	Apartment
Zoning	R3FUD

Price	$2,999,999
Price Per Unit	$333,333
Sale Type	Investment
Cap Rate	4.23%
Sale Conditions	Build to Suit Redevelopment Project
No. Units	9
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low-Rise
Building Class	B
Lot Size	6.49 AC
Building Size	14,736 SF
No. Stories	2
Year Built	2008
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	R3FUD

Unit Amenities

Air Conditioning

Wheelchair Accessible (Rooms)

Unit Mix Information

Description	No. Units	Avg. Rent/Mo	SF
2+2	5	$1,495	1,680
3+2.5	4	$1,700	1,580

1 1

Property Taxes

Parcel Numbers	Multiple C-21-37-30-020-00AA-0000 C-20-37-30-A00-0060-0000 C-21-37-30-020-00A0-0000	Improvements Assessment	$1,787,518
Land Assessment	$300,000	Total Assessment	$2,087,518