$2,074,000
$2,100,000
1.2%For more information regarding the value of a property, please contact us for a free consultation.
18,592 SqFt
SOLD DATE : 02/20/2020
Key Details
Sold Price $2,074,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 18,592 sqft
Price per Sqft $111
Subdivision Acreage Code Dcctlp-Dcctlp1
MLS Listing ID T3209966
Sold Date 02/20/20
Construction Status Appraisal,Financing,Inspections
HOA Y/N No
Year Built 1981
Annual Tax Amount $19,189
Lot Size 1.080 Acres
Acres 1.08
Lot Dimensions 285x246x350 appx
Property Description
21 Unit Majestic Court Apartments is a very attractive opportunity for an investor to acquire a turnkey product in a growing market with an 8% Cap rate. Recently renovated with HD Vinyl wood flooring throughout all living areas, tile in kitchen & baths, and granite counters. Only 7 minutes to Saint Leo University, 1 mile to vibrant downtown Dade City, and with dependable long-term Tenants. By 2020-end all units will be at full market rent, creating an exceptionally strong income stream. Property consists of twenty (20) 2 bedroom townhomes with 896sf and 1-1/2 baths, (1) 1 bedroom townhome with 672sf and 1 bath. There is an updated separate laundry facility on 1st floor. Well maintained, with white vinyl fencing throughout and a large open parking lot. Recently installed commercial play structure supplies a sense of community for the residents. Individually metered for water/sewer/electric, concrete block construction and new roof are just a few of the Value-Add items increasing the value to the investment. Current owner is willing to continue managing the complex making for an easy transition to new Owners. Current 2020 Pro Forma available to qualified parties. Property located in Dade City, within Pasco County.
Location
State FL
County Pasco
Community Acreage Code Dcctlp-Dcctlp1
Zoning ORS3
Interior
Interior Features Kitchen/Family Room Combo, Thermostat
Heating Electric
Cooling Central Air
Flooring Carpet, Vinyl
Furnishings Unfurnished
Fireplace false
Appliance Electric Water Heater, Range, Range Hood, Refrigerator
Laundry Laundry Room
Exterior
Exterior Feature Sidewalk
Garage Common, Guest, Open
Utilities Available Cable Available, Electricity Connected, Phone Available, Public, Water - Multiple Meters
Amenities Available Gated, Laundry, Playground, Security
Waterfront false
Roof Type Shingle
Parking Type Common, Guest, Open
Garage false
Private Pool No
Building
Lot Size Range One + to Two Acres
Sewer Public Sewer
Water Public
Structure Type Block
New Construction false
Construction Status Appraisal,Financing,Inspections
Schools
Elementary Schools Pasco Elementary School-Po
Middle Schools Pasco Middle-Po
High Schools Pasco High-Po
Others
Pets Allowed Breed Restrictions
Senior Community No
Ownership Fee Simple
Num of Pet 1
Special Listing Condition None
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