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29 ROOMS-H2A HOUSING 517 Us-27 29 Unit Apartment Building $2,500,000 ($86,207/Unit) 12% Cap Rate Lake Placid, FL 33852
Investment Highlights
- Motel
- Highway Frontage
- Multi Family
Executive Summary
12% CAP RATE
Prime investment opportunity on highly visible Highway 27 in Lake Placid! This 29-room property is currently operating as H2A housing and offers strong income potential with the capacity to accommodate up to 130 occupants and is producing an impressive 12% cap rate under its current business model. The building features a durable metal roof ( 5 Years Old) and has been updated with new split-unit HVAC systems in every room, providing efficient and comfortable climate control throughout.
With excellent highway frontage and easy access, this property is ideal for continued workforce housing, hospitality conversion, or other income-producing uses. Its large occupancy capacity and recent upgrades make it a turnkey opportunity for investors seeking immediate cash flow in a growing area.
Prime investment opportunity on highly visible Highway 27 in Lake Placid! This 29-room property is currently operating as H2A housing and offers strong income potential with the capacity to accommodate up to 130 occupants and is producing an impressive 12% cap rate under its current business model. The building features a durable metal roof ( 5 Years Old) and has been updated with new split-unit HVAC systems in every room, providing efficient and comfortable climate control throughout.
With excellent highway frontage and easy access, this property is ideal for continued workforce housing, hospitality conversion, or other income-producing uses. Its large occupancy capacity and recent upgrades make it a turnkey opportunity for investors seeking immediate cash flow in a growing area.
Property Facts
| Price | $2,500,000 | Building Class | C |
| Price Per Unit | $86,207 | Lot Size | 1.84 AC |
| Sale Type | Investment | Building Size | 26,000 SF |
| Cap Rate | 12% | Average Occupancy | 100% |
| No. Units | 29 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1960 |
| Property Subtype | Apartment | Parking Ratio | 2.31/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | B3 | ||
| Price | $2,500,000 |
| Price Per Unit | $86,207 |
| Sale Type | Investment |
| Cap Rate | 12% |
| No. Units | 29 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.84 AC |
| Building Size | 26,000 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1960 |
| Parking Ratio | 2.31/1,000 SF |
| Zoning | B3 |
Amenities
Unit Amenities
- Air Conditioning
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | P-31-36-30-080-00F0-0000 | Improvements Assessment | $500,338 |
| Land Assessment | $226,000 | Total Assessment | $726,338 |
Property Taxes
Parcel Number
P-31-36-30-080-00F0-0000
Land Assessment
$226,000
Improvements Assessment
$500,338
Total Assessment
$726,338
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29 ROOMS-H2A HOUSING | 517 Us-27