Triplex with Vacant One-Bedroom
For Sale
$499,000
16025 WALLACE STREET, Umatilla, FL 32784
Three separate residences include an option for an owner-occupant to live on-site.
Property Size3,512 SF
Price / SF$142.08
Days on Market54
Property Features for 16025 WALLACE STREET
General Information
Standard status
Active
Size
3,512 SF
Property subtype
Triplex
Additional Details
Multifamily Units
3
Building Details
Year Built
1966
Listing Agency:
LA ROSA REALTY CW PROPERTIES L
(407) 910-2168
Listed By:
Ricardo Adames · License #3392384
(407) 732-3744
Source:
Endlesssummerrealty
Added: Sep 3
Changed: Oct 25
Last Checked: Oct 24 at 6:10PM
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 LA ROSA REALTY CW PROPERTIES L
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Investment Insights
Based on property information with market context.
Built in 1966, this triplex contains three separate residential units within one property. The one-bedroom unit can be delivered vacant, giving an owner-occupant the option to reside on-site while leasing the other two units. The layout also supports separate residential tenancies under a single ownership structure.
Located at 16025 Wallace St in Umatilla, the property has access to local shopping, dining, schools, parks, and surrounding Lake County communities. Walk Score is 1 and bikeScore is 26, reflecting a car-dependent setting with some bike access. The three-unit configuration provides flexibility for an investor or an owner-occupant seeking an on-site residence.
Located at 16025 Wallace St in Umatilla, the property has access to local shopping, dining, schools, parks, and surrounding Lake County communities. Walk Score is 1 and bikeScore is 26, reflecting a car-dependent setting with some bike access. The three-unit configuration provides flexibility for an investor or an owner-occupant seeking an on-site residence.
Key Highlights
- Three separate residential units in a triplex configuration
- One‑bedroom unit can be delivered vacant
- Built in 1966
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,128
Cap Rate
8.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$862,560
$862.6K
Cap Rate 7%
$616,114
$616.1K
Cap Rate 9%
$479,200
$479.2K
Market Conditions
NOI Build-Up for 3,512 SF
Gross rent
$83.9K $23.88/SF
− Vacancy
−$5.5K −$1.55/SF
EGI
$78.4K $22.33/SF
− OpEx
−$35.3K −$10.05/SF
NOI
$43.1K $12.28/SF
Area
Lake County, FL
Vacancy
6.50%
Lease Rate
$23.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$862,560
Cap Rate 7%
$616,114
Cap Rate 9%
$479,200
Alternative Uses
Best Use
Multifamily LT 5
$669.2K
$585.5K – $780.7K
NOI $46,841 @ 7.0% cap · market cap 9.39%
Second Best
Apartment 5plus
$616.1K
$539.1K – $718.8K
NOI $43,128 @ 7.0% cap · market cap 8.64%
Theoretical Best
Office A
$999.4K
$874.5K – $1.17M
NOI $69,959 @ 7.0% cap · market cap 14.02%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
80
Businesses Nearby
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Business Placement
Demographics for 32784, FL
11,212
Population
4,971
Households
2.3
Avg Household Size
45
Median Age
12%
College-Educated
88%
High-School Grad
92.8 sq mi
ZIP Area
121
Density / Sq Mi
$69,633
Median Household Income
$40,247
Median Earnings
$1,082
Median Rent
$237,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three separate residences include an option for an owner-occupant to live on-site.
Where is this triplex located?
The property is located at 16025 WALLACE STREET Umatilla, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Three separate residential units in a triplex configuration; One‑bedroom unit can be delivered vacant; Built in 1966
