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    1502 High St Leesburg, FL 34748

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    For Sale
    $515,000

    Nine-unit property with potential for conversion into a ten-unit residence.

    Lot size:
    0.64 Acres

    Property Features for 1502 High St

    General Information

    Lot size
    0.64 Acres

    Building Details

    Year built
    1910

    Source: EQUITYPRO LLC Agent Navid Rokh

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Nine-Unit Multifamily Residence in Leesburg

    This nine-unit property in Leesburg offers the potential for conversion into a ten-unit multifamily residence. Situated in a market characterized by strong tenant demand and long-term growth, the property presents an opportunity to address an undersupplied rental market. A complete renovation, estimated at $400,000, is required to achieve its maximum potential. Repairs and upgrades will include reroofing, general system maintenance, cosmetic improvements, updated floor plans, and modern interiors. This project presents an opportunity for returns, with an After-Repair Value (ARV) of $1,700,000. This property is a chance to provide value for tenants in a location where demand is strong by creating affordable and comfortable housing.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Leesburg
    County
    Lake
    State
    Florida
    Longitude
    -81.8899613
    Latitude
    28.8130933

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    FAQs

    What type of property is this?
    Apartment building - Nine-unit property with potential for conversion into a ten-unit residence.
    Where is this apartment building located?
    The property is located at 1502 High St Leesburg, FL.
    What is the asking price?
    The asking price for this property is $515,000.
    What are key features of this property?
    This property features: - Opportunity to convert to a 10-unit multifamily residence.; - Located in Leesburg, a market with strong tenant demand.; - Potential for significant returns after renovation (ARV $1,700,000).
    (321) 900-5977
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    Leesburg, FL 34748
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1502 High St Leesburg, FL 34748
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