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Perry Apartments Village 2273 S Byron Butler Pky 40 Unit Apartment Building $4,500,000 ($112,500/Unit) 7.76% Cap Rate Perry, FL 32348
EXECUTIVE SUMMARY
Warren & Company is pleased to offer Perry Apartments Village, a 40-unit community in the heart of downtown Perry, Florida. Built in 1977, the community provides stable workforce housing with immediate access to US-19/98, Perry’s primary commercial corridor.
At a $4.5M price, a 7.76% going-in cap rate, the property delivers strong cash flow immediately. Lender underwriting indicates favorable financing, including potential 2 yr to 5yr interest-only, supporting cash-on-cash returns well above 14% with a comfortable DCR over 1.5. Call for details.
PROPERTY PROFILE
3-acres offering privacy and quiet surroundings
40 units across eight (8) two-story buildings
42,745 rentable SF
UNIT MIX
A mix of 1BR, 2BR, and 3BR units broadens tenant demand supporting strong occupancy.
4 × 1BR / 1BA
31 × 2BR / 1BA
5 × 3BR / 2BA
Features and amenities include an on-site office, laundry facility, secure mail center, picnic area, and ample parking. Units have direct entry with private patios or balconies.
All roofs were replaced in Q4 2024.
Located in an Opportunity Zone.
At a $4.5M price, a 7.76% going-in cap rate, the property delivers strong cash flow immediately. Lender underwriting indicates favorable financing, including potential 2 yr to 5yr interest-only, supporting cash-on-cash returns well above 14% with a comfortable DCR over 1.5. Call for details.
PROPERTY PROFILE
3-acres offering privacy and quiet surroundings
40 units across eight (8) two-story buildings
42,745 rentable SF
UNIT MIX
A mix of 1BR, 2BR, and 3BR units broadens tenant demand supporting strong occupancy.
4 × 1BR / 1BA
31 × 2BR / 1BA
5 × 3BR / 2BA
Features and amenities include an on-site office, laundry facility, secure mail center, picnic area, and ample parking. Units have direct entry with private patios or balconies.
All roofs were replaced in Q4 2024.
Located in an Opportunity Zone.
PROPERTY FACTS
| Price | $4,500,000 | Building Class | C |
| Price Per Unit | $112,500 | Lot Size | 3.05 AC |
| Sale Type | Investment | Building Size | 42,745 SF |
| Cap Rate | 7.76% | Average Occupancy | 92% |
| No. Units | 40 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1977 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Garden |
| Price | $4,500,000 |
| Price Per Unit | $112,500 |
| Sale Type | Investment |
| Cap Rate | 7.76% |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.05 AC |
| Building Size | 42,745 SF |
| Average Occupancy | 92% |
| No. Stories | 2 |
| Year Built | 1977 |
| Opportunity Zone |
Yes |
AMENITIES
UNIT AMENITIES
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | 900 |
| 2+1 | 32 | - | 1,045 |
| 3+2 | 4 | - | 1,350 |
1 1
PROPERTY TAXES
| Parcel Number | 36-04-07-05733-100 | Improvements Assessment | $1,333,020 |
| Land Assessment | $20,250 | Total Assessment | $1,353,270 |
PROPERTY TAXES
Parcel Number
36-04-07-05733-100
Land Assessment
$20,250
Improvements Assessment
$1,333,020
Total Assessment
$1,353,270
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Perry Apartments Village | 2273 S Byron Butler Pky
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