Towne View Place Apartments 87 N Central Ave 9 Unit Apartment Building $1,425,000 ($158,333/Unit) 9.48% Cap Rate Umatilla, FL 32784

Acquire the Towne View Place Apartments, a 13-unit mixed-use commercial and residential property in Umatilla, Florida. Situated at 87 N Central Avenue, the property spans 17,946 square feet on a 0.16-acre lot, featuring robust concrete block construction with a flat roof. Recently renovated, the property features nine residential apartments, comprising one studio unit, six one-bedroom units, and two two-bedroom units. Additionally, three ground-floor retail units include a barbershop, a janitorial services business, and a restaurant, with one unit partially utilized as a warehouse. Central air conditioning and separately metered utilities enhance the appeal of the space for tenants and business owners.

With a diverse mix of living and commercial spaces, Towne View Place provides flexible opportunities for investors. The C1 zoning allows for neighborhood commercial use, making it a prime location for retail or service-oriented businesses. Within walking distance of downtown Umatilla, 87 N Central Avenue offers easy access to local amenities and services, while also being strategically positioned between Orlando and Ocala along State Road 19, providing access to larger markets.

Umatilla is a charming and growing town, often referred to as the Gateway to the Ocala National Forest. Its natural beauty attracts hikers, boaters, and nature lovers, making it an ideal location for residents and tourists.

For more details, including financial and secured documents, reach out to the listing agent for additional information.