Catylist ID:
#30815250
NOW 8.0 CAP Multi Family + Commercial
Multi-Family
for Sale
Also listed as Retail-Commercial
| Catylist Listing ID: | 30815250 |
| Property Subtypes: | Low-Rise/Garden, Mixed Use, Other |
| Number of Units: | 10 Units |
| Building Size (RSF): | 4,416 SF |
| Gross Building Area: | See Agent |
| Gross Land Area: | 0.68 Acres |
| Sale Price: | $1,499,000 |
| Unit Price: | $149,900 Per Unit |
| Property Use Type: | Investment, Vacant/Owner-User |
| Sale Terms: | Cash to Seller |
| Cap Rate: | 8.0% |
| Average Occupancy Rate: | 100 |
| Last Updated: | 3/15/2023 |
Overview / Comments
|
American Property Group Presents this One of a Kind Investment and/or Owner Occupied Property Now Available! 10 unit Multi Family + Commercial Current CAP NOW 8.0% but with simple adjustments Projected Market Return would be approx. 8.4% CAP Site includes 8 apartments and an Auto Sales lot with two office suites. This property is located on busy 15th St. E. and has two entrances. The auto sales portion has it's private entry from 15th St. E and the 8 apartments has a private entry from 14th St. E. Currently the seller is occupying the Auto Sales building at 5624 and 5620. The multi family section has a total of: One 2bd/1 bath, Three 1bd/ 1 bath, and Three efficiency apartments. All tenants besides one are on month to month leases with a ton of upside. NDA must be completed prior to delivering the rent roll / P and L / Pro Forma. Site has had many improvements including: - Back two apartment buildings have new roofs - 2022 - Front structure on 15th St. AC replaced - 2018 - Front structure new metal roof - 2013 - Termite tenting - 2022 - Subterranean termite treatment - 2022 - Apartment 4 Bathroom update - 2020 - Apartment 3 Bathroom update - 2019 - Mini split AC systems in rear apartments – 2022 - New gutters Apartment 1 & 2 – 2022 - Mini split AC in office – 2021 - Hot water heater front building – 2019 - Front office update (drywall/paint/baseboard) - 2022 - Exterior Stairwell siding - 2022 Current Net Income - $118,671.83 Current CAP 8.0% Market Net Income - 130,671.83 Projected CAP 8.4% |
Attachments & Media
Additional Details
| Nearest MSA: | North Port-Sarasota-Bradenton |
| County: | Manatee |
| Tax ID/APN: | 5760800002 |
| Zoning: | HC |
| Percent Occupied: | 100% |
| Number of Stories: | 2 |
| Year Built: | 1920 |
| Year Renovated: | 2021 |
| Zoning Description: | HC |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 11,438 | 98,575 | 203,298 |
| Median Age: | 35.54 | 42.7 | 44.72 |
| Households: | 3,932 | 41,374 | 87,308 |
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