Triplex With Private
For Sale
$619,900
220 RIDGECREST LOOP, Minneola, FL 34715
Three separate homes offer individual laundry, dedicated outdoor areas, and separate water and electric meters.
Property Size2,700 SF
Price / SF$229.59
Days on Market210
Property Features for 220 RIDGECREST LOOP
General Information
Standard status
Active
Size
2,700 SF
Property subtype
Triplex
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$4,758
Building Details
Building Size
2,700 SF
Year Built
1987
Tenancy
Multi
Listing Agency:
RE/MAX PRIME PROPERTIES
Listed By:
Steven Horner · License #3262014
(407) 347-4512
Source:
Daillandrealestate
Added: Apr 2
Changed: Oct 26
Last Checked: Oct 26 at 3:14PM
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 RE/MAX PRIME PROPERTIES
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Investment Insights
Based on property information with market context.
Built in 1987, this triplex contains three separate units, each with two bedrooms, one full bathroom, and its own laundry and backyard space. Interior features include tile flooring, vaulted ceilings, ceiling fans, updated bathroom vanities, and eat-in kitchen areas. Updated front windows and patio sliders complement newer HVAC systems and water heaters in each unit. The roof was fully replaced in August 2025, and the property has two septic systems, pumped in March 2026. There is no HOA.
The property is minutes from the Colonial and 27 intersection. The Florida Turnpike is a 10-minute drive, Publix is 5 minutes away, and South Lake Hospital is 8 minutes away. The Minneola Advent Health Facility is 10 minutes away.
Each unit has separate water and electric meters. An extended driveway provides multiple parking spaces for the property.
The property is minutes from the Colonial and 27 intersection. The Florida Turnpike is a 10-minute drive, Publix is 5 minutes away, and South Lake Hospital is 8 minutes away. The Minneola Advent Health Facility is 10 minutes away.
Each unit has separate water and electric meters. An extended driveway provides multiple parking spaces for the property.
Key Highlights
- Three units, each with 2 bedrooms and 1 full bathroom
- Separate backyard and laundry space for each unit
- Newer HVAC systems and water heaters in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,011
Cap Rate
5.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$720,220
$720.2K
Cap Rate 7%
$514,443
$514.4K
Cap Rate 9%
$400,122
$400.1K
Market Conditions
NOI Build-Up for 2,700 SF
Gross rent
$55.1K $20.40/SF
− Vacancy
−$3.6K −$1.35/SF
EGI
$51.4K $19.05/SF
− OpEx
−$15.4K −$5.72/SF
NOI
$36.0K $13.34/SF
Area
Lake County, FL
Vacancy
6.60%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$720,220
Cap Rate 7%
$514,443
Cap Rate 9%
$400,122
Alternative Uses
Best Use
Multifamily LT 5
$514.4K
$450.1K – $600.2K
NOI $36,011 @ 7.0% cap · market cap 5.81%
Second Best
Apartment 5plus
$473.7K
$414.5K – $552.6K
NOI $33,157 @ 7.0% cap · market cap 5.35%
Theoretical Best
Office A
$768.3K
$672.3K – $896.4K
NOI $53,784 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
443
Businesses Nearby
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Business Placement
Demographics for 34715, FL
22,763
Population
8,877
Households
2.6
Avg Household Size
40
Median Age
27%
College-Educated
89%
High-School Grad
31.5 sq mi
ZIP Area
723
Density / Sq Mi
$97,644
Median Household Income
$46,750
Median Earnings
$2,067
Median Rent
$407,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three separate homes offer individual laundry, dedicated outdoor areas, and separate water and electric meters.
Where is this triplex located?
The property is located at 220 RIDGECREST LOOP Minneola, FL.
What is the asking price?
The asking price for this property is $619,900.
What are key features of this property?
This property features: Three units, each with 2 bedrooms and 1 full bathroom; Separate backyard and laundry space for each unit; Newer HVAC systems and water heaters in each unit
