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520 S Main Ave 5 Unit Apartment Building $755,000 ($151,000/Unit) Lake Placid, FL 33852
Investment Highlights
- 5 Unit Multifamily Building for Sale
- Great location in Lake Placid
- Excellent Tenants
Executive Summary
5 Units!! 6.7-7.5% Cap Rate. See attached Offering Memorandum for Income and Expenses. Prime multifamily investment opportunity! 100% Occupied well maintained, updated 5-unit multifamily property located in the heart of Lake Placid. This income producing asset features a strong unit mix of one 3 bedroom/1 bath, two 2 bedrooms/1 bath, and two 1 bedroom/1 bath appealing to a wide range of tenants. The property is easy to manage as tenants pay rent and send maintenance requests online, creating a streamlined, low-touch operation. Currently self managed by the owner and running efficiently. Freshly painted exterior. The building is topped with a durable metal roof and the use of window AC units helps keep maintenance simple and cost efficient. Rents are adjusted at renewal, providing upside for immediate income growth. Tenants Pay Electric. Owner Pays Water. Currently 3 tenants are on annual leases and 2 tenants are month to month.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$62,400
|
$24.26
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$62,400
|
$24.26
|
| Taxes |
$5,611
|
$2.18
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$5,611
|
$2.18
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $62,400 |
| Annual Per SF | $24.26 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $62,400 |
| Annual Per SF | $24.26 |
| Taxes | |
|---|---|
| Annual | $5,611 |
| Annual Per SF | $2.18 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $5,611 |
| Annual Per SF | $2.18 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $755,000 | Apartment Style | Low-Rise |
| Price Per Unit | $151,000 | Building Class | B |
| Sale Type | Investment | Building Size | 2,572 SF |
| No. Units | 5 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 1982 |
| Zoning | C2 | ||
| Price | $755,000 |
| Price Per Unit | $151,000 |
| Sale Type | Investment |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Building Size | 2,572 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1982 |
| Zoning | C2 |
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $1.00 | - |
| 1+1 | 2 | $1.00 | - |
| 3+1 | 1 | $1.00 | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | P-06-37-30-040-0230-0170 | Total Assessment | $341,162 |
| Land Assessment | $18,596 | Annual Taxes | $5,611 ($2.18/SF) |
| Improvements Assessment | $322,566 | Tax Year | 2025 |
Property Taxes
Parcel Number
P-06-37-30-040-0230-0170
Land Assessment
$18,596
Improvements Assessment
$322,566
Total Assessment
$341,162
Annual Taxes
$5,611 ($2.18/SF)
Tax Year
2025
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Contact the Sale Advisor
520 S Main Ave