Gardens on Griffin 39 Herald Dr 78 Unit Apartment Building $13,000,000 ($166,667/Unit) 6.75% Cap Rate Leesburg, FL 34748

A 78-unit, “B” class multifamily property located in the fast growing sub-market of Leesburg, FL. Attractive Loan Assumption: Freddie Mac loan with 5.5 years remaining at a 5.4% rate, full term IO, 30 year amortization at roughly 70% LTV at our list price. Incredibly well maintained and operated property with over $1.2 million of capital improvements spent since 2021 and operating at 97% economic occupancy on Seller’s T-12. Lack of Direct Competition: With almost no competition of comparable B class, market rate properties in the submarket, tenant demand and rent growth has stayed consistently strong at the property. Competitive Amenity Set: With washer/dryer connections in select two-bedroom units, on-site laundry facilities, leasing office/business center, and picnic area, Gardens on Griffin has an amenity package on par with newer communities. Family-Centric Location: Situated 15 minutes from Brownwood Paddock Square Mall, and less than 10 minutes from UF Health Leesburg Hospital, Leesburg Elementary, Middle and High School, multiple parks, museums and other entertainment venues. In the Path of Progress: Just minutes from one of the world’s largest retirement communities, The Villages continues to expand outward and with it brings new developments, employment, entertainment and opportunities.