Palm Ridge Corner Apartments
$1,499,000
1380 East Duval Street, Lake City, FL 32055
For Sale
Multifamily
Active
Last Updated: 03/07/2025
8.46
Cap Rate
126,830
NOI
Details:
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
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
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.
Documents:
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Offering Memorandum
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Location
Gallery
