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Leesburg Duplex in Historic District

1119 W LINE STREET, Leesburg, FL 34748

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For Sale

$299,900

Well-maintained duplex with recent renovations and strong rental history.

Type:Multi Family

Property size:

1,805 SF

Lot size:

0.16 Acres

Price / SF:

$166/SF

HighLights

Well‑maintained duplex in Leesburg's historic downtown district.
Fully renovated units with new laminate flooring and carpet.
New roof installed in 2020 and exterior painted in 2024.
Each unit features 2 bedrooms, 1 bath, and a large inside utility room.
Long‑term ownership (30+ years) with a strong rental history.
Must be purchased with adjacent identical duplex at 1117 W. Line Street (MLS #G5088743).

We can help!

Contact an agent

Craig Yox

For Sale

$299,900

Well-maintained duplex with recent renovations and strong rental history.

Type:Multi Family

Property size:

1,805 SF

Lot size:

0.16 Acres

Price / SF:

$166/SF

Added:: Oct 31, 2024
Days on Market:: 615
Last Refresh:: Apr 6 at 3:16 am

Property Features for 1119 W LINE STREET

General Information

Standard status: Active
Size: 1,805 SF
Lot size: 0.16 Acres
Property subtype: Multi Family

Building Details

Year Built: 1978

We can help!

Contact an agent

Craig Yox

Listing office ERA GRIZZARD REAL ESTATE

Listing date Oct 31, 2024

Source Exitrealty

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 ERA GRIZZARD REAL ESTATE

HighLights

Well‑maintained duplex in Leesburg's historic downtown district.
Fully renovated units with new laminate flooring and carpet.
New roof installed in 2020 and exterior painted in 2024.
Each unit features 2 bedrooms, 1 bath, and a large inside utility room.
Long‑term ownership (30+ years) with a strong rental history.
Must be purchased with adjacent identical duplex at 1117 W. Line Street (MLS #G5088743).

Overview

This well-maintained duplex is located in the historic district of Downtown Leesburg. The property has been under the same ownership for over 30 years and has a strong rental history. Each unit features 2 bedrooms and 1 bath, along with a large inside utility room. The exterior was painted in 2024, and a new roof was installed in 2020. Both units have been totally renovated with laminate flooring in the living areas and carpet in the bedrooms. The property size is 1805 square feet. This property must be sold with the adjacent duplex at 1117 W. Line Street, which is identical to this duplex.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$36.8k	$20.40
− Vacancy	−$2.4k	−$1.35
EGI	$34.4k	$19.05
− OpEx	−$10.3k	−$5.72
NOI	$24.1k	$13.34

1,805 SF · lease $20.40/SF/yr · vacancy 6.60% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$343.9K

$300.9K – $401.2K (±1% cap)

NOI $24,074 @ 7.0% cap · market cap 8.03%

Second Best

Apartment 5plus

$316.7K

$277.1K – $369.4K (±1% cap)

NOI $22,166 @ 7.0% cap · market cap 7.39%

Theoretical Best

Office A

$513.7K

$449.5K – $599.3K (±1% cap)

NOI $35,956 @ 7.0% cap · market cap 11.99%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Duplexes

Suggested Use

Location Insight

Map
Local Demand

City: Leesburg
County: Lake
State: Florida
Longitude: -81.8833527
Latitude: 28.8137449

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For sale
Duplexes
FL
Leesburg
34748
1119 W LINE STREET

What type of property is this?

Duplex - Well-maintained duplex with recent renovations and strong rental history.

Where is this duplex located?

The property is located at 1119 W LINE STREET Leesburg, FL.

What is the asking price?

The asking price for this property is $299,900.

What are key features of this property?

This property features: Well‑maintained duplex in Leesburg's historic downtown district.; **Fully renovated units with new laminate flooring and carpet.**; New roof installed in 2020 and exterior painted in 2024.