1516 Tuttle Street, Inverness, FL 34452
MULTI_FAMILY - Other - Inverness, FL
- Added:
- Jun 24, 2026
- Days on Market:
- 2
- Last Refresh:
- Jun 25 at 8:06 pm
Property Features for 1516 Tuttle Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- LMD
- Appliances
- ElectricOven, ElectricRange, Refrigerator
- Standard status
- Active
- APN
- 1761085
- Size
- 2,730 SF
- Lot size
- 0.31 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 5397
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central, Electric (Heating)
- Cooling system
- Electric, Central Air
- Water source
- Public
Building Details
- Year built
- 1982
- Floors in Building
- 1
- Number of units
- 3
- Flooring type
- Tile
- Building materials
- Stucco
- Roof type
- Shingle, Asphalt
- Architectural style
- Other
Listing agent Julie Searles License #3337806 (850) 530-5286
Listing office Great American Rlty & Inv. 1488 US Highway 41 N, FL (352) 637-3800
Listing date Jun 24, 2026
Copyright © 2026 REALTORS Association of Citrus County, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Income‑producing triplex with three 2‑bedroom, 1‑bath units
- All three units currently occupied
- Year built 1982 with stucco construction
- Central air cooling and central electric heating
- Public water and public sewer
- Tile flooring and shingle/asphalt roof
Overview
The property is located at 1516 Tuttle Street in Inverness, Florida 34452, in Citrus County. It is identified as zoned LMD. The listing describes the building as being in downtown Inverness and notes convenient access to shopping, dining, parks, medical facilities, and local events.
For investors or owner-operators seeking a small multifamily asset, the current occupancy supports a straightforward path to generating rental revenue from the outset. The unit mix—three matching two-bedroom, one-bath layouts—can appeal to tenants looking for similar living arrangements. With a compact triplex configuration and an occupied structure, this may fit buyers who want to avoid leasing-up risk while adding a residential income property to their portfolio.
Local 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 | $37.7k | $13.80 |
| − Vacancy | −$2.1k | −$0.76 |
| EGI | $35.6k | $13.04 |
| − OpEx | −$10.7k | −$3.91 |
| NOI | $24.9k | $9.13 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Inverness
- County
- Citrus
- State
- Florida
- Longitude
- -82.350002
- Latitude
- 28.834443
