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- LoopNet Team
475 Umatilla Blvd
Umatilla, FL 32784
The Umatilla Apartments · Multifamily Property For Sale
·
16 Units
INVESTMENT HIGHLIGHTS
- Completely Renovated Top Floor (6) Units
- Additional Upside by Renovating Bottom Floor
- Growing Market Area
PROPERTY FACTS
| No. Units | 16 | Lot Size | 0.53 AC |
| Property Type | Multifamily | Building Size | 10,000 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1930/2020 |
| Building Class | C | ||
| Zoning | MF - Multi-Family 10+ Units | ||
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.53 AC |
| Building Size | 10,000 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1930/2020 |
| Zoning | MF - Multi-Family 10+ Units |
ABOUT 475 UMATILLA BLVD , UMATILLA, FL 32784
The Umatilla Apartments is a recently renovated 16 unit apartment complex in Umatilla, FL. Located between I-75 and I-4, this property is strategically located about 15 miles East of The Villages, and 30 miles NW of Orlando. There are (10) studio apartments on the first floor and (6) 1 Bedroom / 1 Bathroom apartments on the second floor. All units on the second floor were recently renovated with finishes like resurfaced hardwood floors and granite countertops in the kitchens and bathrooms. There is some vacancy due to the top floor recently being finished and made available to renters. The management company has received great traction on filling these units up, and we believe the complex will be fully occupied in short order. The owner has provided a utility incentive to tenants that expires roughly 6/1/2021 which will immediately increase the NOI even higher than displayed below.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 6 | - | - |
| 1+1 | 10 | - | - |
PROPERTY TAXES
| Parcel Number | 12-18-26-0600-024-01800 | Improvements Assessment | $746,214 |
| Land Assessment | $84,002 | Total Assessment | $830,216 |
PROPERTY TAXES
