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    1302 NE 33RD Avenue

    Ocala, FL 34470
    • $4,037,000
    • STATUS: Active
    • ON SITE: 26 days
    • ID#: T3327058
    UPDATED: 22 min ago
    $4,037,000
    • 0
      BEDS
    • 1.93
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 32,144
      SQFT
    • $126
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1974
    County:
    Area:

    School Ratings & Info

    Description

    A thirty-two-unit (32) multifamily investment opportunity in Ocala, FL. Turnkey investment with value add opportunities through continuing gradual rent increases currently being implemented. The property is of concrete construction with exterior masonry walls and the foundation is of reinforced concrete. It has central air conditioning. Flooring is a mix of carpet or vinyl in the common areas and tile or vinyl in the kitchens and bathrooms. The property has a lease to the laundry room of a nearby building, as well as a comfortable patio for residents to relax. The units also have a storage closet as well as walk-in closets. It is strategically located near the downtown area creating great visibility and desirability from residents. Historically, it has had a high level of occupancy. There are four buildings built-in 1974. It has been priced for sale at an attractive market cap rate of 5.15% based on current market rents. The Pro-forma cap rate is 6.0% and can be achieved by increasing rents by $100. This type of investment is a rare find in the United States' current compressing cap rate environment, especially in Florida where there is no state income tax. Capital improvements of over $150,000 were completed within the last 4 years. They include 2 roof replacements, 15 HVAC units, water heaters, several carpet replacements, new appliances in several units, and much more. Opportunity Zone expires on December 31, 2021.

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    © 2021 My Florida Regional MLS DBA Stellar MLS. All rights reserved. All listings displayed pursuant to IDX. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided for consumers personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Data last updated 2021-09-26T19:39:22.6.
    www.cainepremierproperties.com/homes/120964421
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    1302 NE 33RD Avenue Ocala, FL 34470

    • Price: $4,037,000
    • Status: Active
    • Updated: 22 min ago
    • ID#: T3327058
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.93
    Acres
    32,144
    SQFT
    $126
    $/SQFT
    1974
    Built
    Neighborhood:
    Ocala
    County:
    Marion
    Area:
    Ocala
    Property Description
    A thirty-two-unit (32) multifamily investment opportunity in Ocala, FL. Turnkey investment with value add opportunities through continuing gradual rent increases currently being implemented. The property is of concrete construction with exterior masonry walls and the foundation is of reinforced concrete. It has central air conditioning. Flooring is a mix of carpet or vinyl in the common areas and tile or vinyl in the kitchens and bathrooms. The property has a lease to the laundry room of a nearby building, as well as a comfortable patio for residents to relax. The units also have a storage closet as well as walk-in closets. It is strategically located near the downtown area creating great visibility and desirability from residents. Historically, it has had a high level of occupancy. There are four buildings built-in 1974. It has been priced for sale at an attractive market cap rate of 5.15% based on current market rents. The Pro-forma cap rate is 6.0% and can be achieved by increasing rents by $100. This type of investment is a rare find in the United States' current compressing cap rate environment, especially in Florida where there is no state income tax. Capital improvements of over $150,000 were completed within the last 4 years. They include 2 roof replacements, 15 HVAC units, water heaters, several carpet replacements, new appliances in several units, and much more. Opportunity Zone expires on December 31, 2021.
    Exterior Features

    Construction Materials Concrete Foundation Details Slab Parking Features Over 30 Spaces Roof Metal Water Access Yn No Water Extras Yn No Waterfront Feet Total 0 Waterfront Yn No

    Interior Features

    Appliances DishwasherDryerRefrigeratorWasher Ceiling Type Drywall Cooling Central Air Flooring CarpetCeramic TileLaminate Heating Central Individual Levels Two Stories Total 2

    Property Features

    Additional Parcels Yn No Disclosures None Flood Zone Code X Net Operating Income 208086 New Construction Yn No Property Sub Type Multi-Family Realtor Info Confidentiality Letter RequiredDocs Available Special Listing Conditions None Tax Annual Amount 35065.98 Tax Year 2020 Total Num Buildings 4 Utilities Electricity AvailablePublicWater Connected Zoning R3


    Listing information © 2021 My Florida Regional MLS DBA Stellar MLS..
    Listing provided courtesy of Paulino Global Real Estate.



    © 2021 My Florida Regional MLS DBA Stellar MLS. All rights reserved. All listings displayed pursuant to IDX. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided for consumers personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Data last updated 2021-09-26T19:39:22.6.
     
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