Palm Ridge Corner Apartments

1380 East Duval Street, Lake City, FL

$1,499,000

Price

8.46%

Cap Rate

$126,830

NOI

Gallery
Street
Map
Overview
Cap Rate
8.46%
NOI
$126,830
Building Size
4,707 sqft
Lot Area
0.96 acres
Units
15
Year Built
1953
Price Per Sqft
$318.46
Year Last Renovated
2022
Description

Sands Investment Group is pleased to present exclusively for sale the 4,707 sf Palm Ridge Corner Apartments located at 1380 East Duval Street in Lake City, FL. This deal includes newly renovated units located in an area that has a high demand for rental housing and new development, providing for a unique investment. 

Highlights
  • All units renovated 2022 / 2023
  • Mini split AC systems in all units (Installed 2022)
  • City sewer / City water
  • Laundry room onsite
  • New roof being installed in November 2023
  • Fully stabilized asset
  • Lake City is located Off I-10 and I-75 Intersection; Major Travel Routes to Jacksonville, Valdosta and Tallahassee
  • Numerous employment opportunities in the area; Property is close proximity to Walmart, major Hotel Brands, major Food Chains, large RV Dealers
  • Area experiencing increased demand for rental housing and new development
Documents
Title
Offering Memorandum
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Location
Gallery