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North Coast Apartments 545740 US Highway 1 12 Unit Apartment Building $1,580,000 ($131,667/Unit) 6.18% Cap Rate Callahan, FL 32011
INVESTMENT HIGHLIGHTS
- The North Coast Apartments represent an excellent value-add multifamily investment in Callahan, Florida. The subject property comprises one (1) garden
- This offer includes: 12 Unit APT COMPLEX (12 Rental Units & Additional parcel .58 LOT - ZONED GENERAL COMMERCIAL 1.60-acres Built/Renovated: 19
EXECUTIVE SUMMARY
The North Coast Apartments represent an excellent value-add multifamily investment in Callahan, Florida. The subject property comprises one (1) garden-style single-story building with board and batten exteriors, featuring 12 units on 1.02 acres. This complex is comprised of (2) 2bd/2ba, (2) 2bd/1ba, (8) 1bd/1ba units. An adjacent parcel is included in the sale featuring another .58 AC zoned General Commercial. A total of 1.68 Acres and endless possibilities for increased cash flow including Garages / Storage, a Single-family dwelling for an added on-site manager/office, and much more. Seller Financing available!
PROPERTY FACTS
| Price | $1,580,000 | Building Class | C |
| Price Per Unit | $131,667 | Lot Size | 1.02 AC |
| Sale Type | Investment | Building Size | 11,287 SF |
| Cap Rate | 6.18% | Average Occupancy | 83% |
| No. Units | 12 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1958/2022 |
| Property Subtype | Apartment | Parking Ratio | 1.14/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | CG - commercial general | ||
| Price | $1,580,000 |
| Price Per Unit | $131,667 |
| Sale Type | Investment |
| Cap Rate | 6.18% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.02 AC |
| Building Size | 11,287 SF |
| Average Occupancy | 83% |
| No. Stories | 1 |
| Year Built/Renovated | 1958/2022 |
| Parking Ratio | 1.14/1,000 SF |
| Zoning | CG - commercial general |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
SITE AMENITIES
- Controlled Access
- Gated
- Walking/Biking Trails
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | - | 620 - 690 |
| 2+1 | 2 | - | 700 - 800 |
| 2+2 | 2 | - | 700 - 780 |
1 1
PROPERTY TAXES
| Parcel Number | 37-3N-24-0000-0005-0010 | Improvements Assessment | $1,133,670 |
| Land Assessment | $0 | Total Assessment | $1,133,670 |
PROPERTY TAXES
Parcel Number
37-3N-24-0000-0005-0010
Land Assessment
$0
Improvements Assessment
$1,133,670
Total Assessment
$1,133,670
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North Coast Apartments | 545740 US Highway 1
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