600 W Oak Terrace Dr Leesburg, FL 34748

This 48-unit apartment complex in Leesburg, FL, presents a turn-key investment opportunity with a single tenant. The entire property is leased by an accredited private 4-year college founded in 1989, ensuring a stable income stream and minimal management effort. The property features updated vinyl flooring and recently updated kitchens and bathrooms in most units. Residents can enjoy an Outdoor Oasis courtyard with brick walkways, spacious patios, two gazebos, and a brick fireplace, complemented by stone flower beds, new palm trees, and fresh sod maintained by an efficient irrigation system. Additional amenities include an on-site laundry facility and management office, electronic locks on all apartments, and ample parking. Recent major updates include roof replacement on all buildings in 2020, a robust gutter and drainage system, exterior lighting, security cameras and gates, and the majority of the HVAC systems have been replaced within the last five years. The property is located near historic downtown Leesburg, offering access to local restaurants, shops, and Ski Beach/Venetian Park on Lake Harris. It is also approximately 56 miles from Orlando International Airport and within a two-hour drive of beaches on both the Atlantic and Gulf coasts. The property is situated on a 2.35-acre lot and the building size is 39524 square feet. An additional adjacent 2.68-acre parcel is available, offering the opportunity to potentially build up to an additional 48 units.