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3722 S US HWY 441
Lake City, FL 32025
41 On 441 · Multifamily Property For Sale · 41 Units
PROPERTY FACTS
| No. Units | 41 | Lot Size | 7.90 AC |
| Property Type | Multifamily | Building Size | 22,262 SF |
| Property Subtype | Apartment | Average Occupancy | 80% |
| Apartment Style | Low Rise | No. Stories | 1 |
| Building Class | C | Year Built | 1956 |
| No. Units | 41 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 7.90 AC |
| Building Size | 22,262 SF |
| Average Occupancy | 80% |
| No. Stories | 1 |
| Year Built | 1956 |
Unit Amenities
- Air Conditioning
- Microwave
- Heating
- Kitchen
- Refrigerator
- Stainless Steel Appliances
- Range
- Vinyl Flooring
Site Amenities
- Laundry Facilities
- Storage Space
- Maintenance on site
About 3722 S US HWY 441 , Lake City, FL 32025
41-unit apartment complex for sale in the heart of Lake City Florida. Located in a working-class neighborhood, the property has a much-needed, applicable unit mix consisting of 34 Singles & 7 One Bedroom/ One Bathroom units. Roughly 75% of units have been extensively renovated allowing a new operator to continue with the value-add with the benefit of the heavy lifting being complete. In the past 3-4 years rents have increased by 85% within the sub-market & average vacancy rates decreased by 100%. The property has advantageous zoning (GC for General Commercial) which allows for creativity to flow combined with multiple options for a savvy investor to develop and expand on what has already been done! Located just 30 minutes from Gainesville FL, the largest city of North Central Florida and home to the University of Florida, the 5th largest University in the US. A stable & continuously growing county with a 954-acre Solar Farm currently under construction, which will be able to power 15,000 homes. A true value-add asset, a new owner has the potential to immediately and substantially increase their cash flow.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 34 | $562.50 | 407 - 450 |
| 1+1 | 7 | $600.00 | 507 - 555 |
PROPERTY TAXES
| Parcel Number | 17-4S-17-08412-000 | Improvements Assessment | $563,420 |
| Land Assessment | $237,000 | Total Assessment | $800,420 |
PROPERTY TAXES
zoning
| Zoning Code | CG |
| CG |
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