North Coast Apartments | 545740 US Highway 1
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North Coast Apartments 545740 US Highway 1
12 Unit Apartment Building $1,680,000 ($140,000/Unit) 5.81% Cap Rate Callahan, FL 32011
Investment Highlights
- The North Coast Apartments represent an excellent value-add multifamily investment in Callahan, Florida. The subject property comprises one (1) garden
- This offer includes: 12 Unit APT COMPLEX (12 Rental Units & Additional parcel .58 LOT - ZONED GENERAL COMMERCIAL 1.60-acres Built/Renovated: 19
Executive Summary
The North Coast Apartments represent an excellent value-add multifamily investment in Callahan, Florida. The subject property comprises one (1) garden-style single-story building with board and batten exteriors, featuring 12 units on 1.02 acres. This complex is comprised of (2) 2bd/2ba, (2) 2bd/1ba, (8) 1bd/1ba units. An adjacent parcel is included in the sale featuring another .58 AC zoned General Commercial. A total of 1.68 Acres and endless possibilities for increased cash flow including Garages / Storage, a Single-family dwelling for an added on-site manager/office, and much more.
Property Facts
| Price | $1,680,000 | Building Class | C |
| Price Per Unit | $140,000 | Lot Size | 1.02 AC |
| Sale Type | Investment | Building Size | 11,287 SF |
| Cap Rate | 5.81% | Average Occupancy | 100% |
| No. Units | 12 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1958/2022 |
| Property Subtype | Apartment | Parking Ratio | 1.14/1,000 SF |
| Apartment Style | Low Rise |
| Price | $1,680,000 |
| Price Per Unit | $140,000 |
| Sale Type | Investment |
| Cap Rate | 5.81% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 1.02 AC |
| Building Size | 11,287 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1958/2022 |
| Parking Ratio | 1.14/1,000 SF |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
Site Amenities
- Controlled Access
- Gated
- Walking/Biking Trails
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | 620 - 690 |
| 2+1 | 2 | - | 700 - 800 |
| 2+2 | 2 | - | 700 - 780 |
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PROPERTY TAXES
| Parcel Number | 37-3N-24-0000-0005-0010 | Improvements Assessment | $55,619 |
| Land Assessment | $30,600 | Total Assessment | $86,219 |
PROPERTY TAXES
Parcel Number
37-3N-24-0000-0005-0010
Land Assessment
$30,600
Improvements Assessment
$55,619
Total Assessment
$86,219
zoning
| Zoning Code | CG (commercial general) |
| CG (commercial general) |
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North Coast Apartments | 545740 US Highway 1
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