Lantana Village Apartments 721 SW 19th Ave 24 Unit Apartment Building $2,995,000 ($124,792/Unit) Ocala, FL 34471
INVESTMENT HIGHLIGHTS
- Concrete block construction
- Renovations in 2018-2019
- Close proximity to Florida Crossroads Distribution and Logistics Park - with over 5 million sq ft of warehousing and distribution facilities
- New metal roofs in 2019 for all buildings
- Locate minutes to Downtown Ocala
EXECUTIVE SUMMARY
24-unit multi-family portfolio (12 duplexes) all on one 3.89-acre parcel, located within minutes to downtown Ocala. These units all consist of 2-bedroom 1-bath units, and are currently 100% occupied, providing immediate cash flow to new Owners. All 12 buildings have newer metal roofs, installed in 2019, and have seen various upgrades, and renovations over the last few years. There is immediate opportunity for rental increases with current rents well below market.
FINANCIAL SUMMARY (PRO FORMA - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS Under Contract
| Price | $2,995,000 |
| Price Per Unit | $124,792 |
| Sale Type | Investment |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Lot Size | 3.89 AC |
| Building Size | 17,416 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1971/2018 |
| Parking Ratio | 1.61/1,000 SF |
| Zoning | R2 - Residential |
AMENITIES
UNIT AMENITIES
- Air Conditioning
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 24 | - | 517 |
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PROPERTY TAXES
| Parcel Number | 22739-001-00 | Total Assessment | $1,055,091 (2023) |
| Land Assessment | $0 (2023) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 (2023) | Tax Year | 2024 |
