Laurel Village Apartments | 12120-12162 SE 53rd Terrace Rd
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Laurel Village Apartments 12120-12162 SE 53rd Terrace Rd
15 Unit Apartment Building $1,950,000 ($130,000/Unit) Belleview, FL 34420
Investment Highlights
- Located close to Ocala and The Villages
- Quiet and Peaceful Location
- Located minutes to I-75 and the Florida Crossroads Distribution Facilities
Executive Summary
Excellent investment opportunity to acquire 15 units (6 duplexes and 1 triplex) on one parcel, in the strong rental market of Belleview FL, in southern Marion County. The unit mix consists of 12 2/1's, and 3 1/1's. Located between Ocala, and the Villages, Belleview has become an emerging rental market for its proximity to one of the fastest growing developments in the Country, The Villages "Florida's Friendliest Hometown". This is a value-add opportunity with current rents well below market.
Financial Summary (Pro forma - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$167,400
|
$14.07
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$167,400
|
$14.07
|
| Taxes |
$14,728
|
$1.24
|
| Operating Expenses |
$31,584
|
$2.65
|
| Total Expenses |
$46,312
|
$3.89
|
| Net Operating Income |
$121,088
|
$10.18
|
Financial Summary (Pro forma - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $167,400 |
| Annual Per SF | $14.07 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $167,400 |
| Annual Per SF | $14.07 |
| Taxes | |
|---|---|
| Annual | $14,728 |
| Annual Per SF | $1.24 |
| Operating Expenses | |
|---|---|
| Annual | $31,584 |
| Annual Per SF | $2.65 |
| Total Expenses | |
|---|---|
| Annual | $46,312 |
| Annual Per SF | $3.89 |
| Net Operating Income | |
|---|---|
| Annual | $121,088 |
| Annual Per SF | $10.18 |
Property Facts
| Price | $1,950,000 | Building Class | C |
| Price Per Unit | $130,000 | Lot Size | 1.87 AC |
| Sale Type | Investment | Building Size | 11,898 SF |
| No. Units | 15 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 1983 |
| Apartment Style | Garden | Parking Ratio | 0.25/1,000 SF |
| Price | $1,950,000 |
| Price Per Unit | $130,000 |
| Sale Type | Investment |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.87 AC |
| Building Size | 11,898 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1983 |
| Parking Ratio | 0.25/1,000 SF |
Unit Amenities
- Oven
- Vinyl Flooring
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 12 | - | 841 |
| 1+1 | 3 | - | 600 |
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PROPERTY TAXES
| Parcel Numbers | Total Assessment | $787,298 | |
| Land Assessment | $0 | Annual Taxes | $14,728 ($1.24/SF) |
| Improvements Assessment | $0 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$787,298
Annual Taxes
$14,728 ($1.24/SF)
Tax Year
2023
zoning
| Zoning Code | R3 (Proper zoning for multi-family) |
| R3 (Proper zoning for multi-family) |
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Laurel Village Apartments | 12120-12162 SE 53rd Terrace Rd
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