Well-Maintained Duplex in Historic
1117 W LINE STREET Leesburg, FL 34748
For Sale
$299,900
Pending
Two 2-bedroom, 1-bath units with an inside utility room and recent exterior, roof, and one unit improvements.
Property Size1,800 SF
Days on Market635
Property Features for 1117 W LINE STREET
General Information
- Standard status
- Pending
- Size
- 1,800 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1978
Listing Agency:
ERA GRIZZARD REAL ESTATE
(352) 255-6002
Listed By:
Craig Yox · License #512601
(352) 255-6002
Source:
Exitrealty
Added: Oct 31, 2024
Changed: Jul 23
Last Checked: Jul 26 at 7:33AM
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
Investment Insights
Based on property information with market context.
This very well-maintained duplex in the historic district of Downtown Leesburg features two separate units, each with two bedrooms and one bathroom, along with a large inside utility room. The exterior was painted in 2024, and the property received a new roof in 2020. One unit has been totally renovated with laminate flooring in the living areas and carpet in the bedrooms, while the other unit has a long-term tenant and is in great condition.
The property is located at 1117 W Line Street, Leesburg, FL 34748. The seller notes that this duplex must be sold together with the adjacent duplex at 1119 W. Line Street, and that the two properties are identical, referencing MLS #G5088745.
The property is located at 1117 W Line Street, Leesburg, FL 34748. The seller notes that this duplex must be sold together with the adjacent duplex at 1119 W. Line Street, and that the two properties are identical, referencing MLS #G5088745.
Key Highlights
- Duplex built in 1978 in the historic district of Downtown Leesburg
- Two units, each with 2 bedrooms, 1 bathroom, and a large inside utility room
- New roof installed in 2020
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.7k | $20.40 |
| − Vacancy | −$2.4k | −$1.35 |
| EGI | $34.3k | $19.05 |
| − OpEx | −$10.3k | −$5.72 |
| NOI | $24.0k | $13.34 |
1,800 SF · lease $20.40/SF/yr · vacancy 6.60% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$343.0K
$300.1K – $400.1K
NOI $24,008 @ 7.0% cap · market cap 8.01%
Second Best
Apartment 5plus
$315.8K
$276.3K – $368.4K
NOI $22,105 @ 7.0% cap · market cap 7.37%
Theoretical Best
Office A
$512.2K
$448.2K – $597.6K
NOI $35,856 @ 7.0% cap · market cap 11.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two 2-bedroom, 1-bath units with an inside utility room and recent exterior, roof, and one unit improvements.
Where is this duplex located?
The property is located at 1117 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: Duplex built in 1978 in the historic district of Downtown Leesburg; Two units, each with 2 bedrooms, 1 bathroom, and a large inside utility room; New roof installed in 2020
