Lakefront Apartment
1015 Lakeview Drive Sebring, Sebring, FL 33870
For Sale
$5,000,000
Twenty-one-unit multifamily property with lakefront setting, interior hallways, and an additional commercial building.
Property Size28,000 SF
Price / SF$178.57
Days on Market128
Property Features for 1015 Lakeview Drive Sebring
General Information
Standard status
Size
Zoning
Additional Details
Unit Mix
Building Details
Building Size
Buildings
Listing Agency:
Florida Homes Realty & Mortgage
Listed By:
Mazy Ruise
(904) 447-1321
Source:
Yourfhrm
Added: Jul 8
Changed: Nov 11
Last Checked: Oct 7 at 9:54AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Florida Homes Realty & Mortgage
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 28,000-square-foot lakefront multifamily property includes 21 units across three residential buildings. The unit mix consists of a 12-unit building with all one-bedroom apartments and two four-unit buildings with two-bedroom, one-bath apartments. The residential buildings feature interior hallways. A separate commercial building is also part of the property, adding a nonresidential component to the site. The property is zoned MULTI FAMILY and is located in Sebring near shopping and a commercial area.
Key Highlights
- 21 total units across three residential buildings
- 12‑unit building with all one‑bedroom apartments
- Two 4‑unit buildings with all 2‑bedroom, 1‑bath apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$252,882
Cap Rate
5.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,057,640
$5.1M
Cap Rate 7%
$3,612,600
$3.6M
Cap Rate 9%
$2,809,800
$2.8M
Market Conditions
NOI Build-Up for 28,000 SF
Gross rent
$453.6K $16.20/SF
− Vacancy
−$49.0K −$1.75/SF
EGI
$404.6K $14.45/SF
− OpEx
−$151.7K −$5.42/SF
NOI
$252.9K $9.03/SF
Area
Highlands County, FL
Vacancy
10.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,057,640
Cap Rate 7%
$3,612,600
Cap Rate 9%
$2,809,800
Alternative Uses
Best Use
Mixed Use
$3.61M
$3.16M – $4.21M
NOI $252,882 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$3.36M
$2.94M – $3.92M
NOI $235,010 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$5.83M
$5.10M – $6.80M
NOI $407,770 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
606
Businesses Nearby
Explore this area
Business Placement
Demographics for 33870, FL
24,238
Population
13,933
Households
1.7
Avg Household Size
51
Median Age
18%
College-Educated
84%
High-School Grad
95.3 sq mi
ZIP Area
254
Density / Sq Mi
$50,606
Median Household Income
$28,475
Median Earnings
$977
Median Rent
$154,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Twenty-one-unit multifamily property with lakefront setting, interior hallways, and an additional commercial building.
Where is this apartment building located?
The property is located at 1015 Lakeview Drive Sebring Sebring, FL.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: 21 total units across three residential buildings; 12‑unit building with all one‑bedroom apartments; Two 4‑unit buildings with all 2‑bedroom, 1‑bath apartments
