45-Unit Apartment
For Sale
$4,995,000
3012 State Road 17 N, Sebring, FL 33870
The fully occupied property has a waiting list, with updates completed in 65% of the units.
Property Size21,072 SF
Price / SF$237.04
Days on Market26
Property Features for 3012 State Road 17 N
General Information
Standard status
Active
Size
21,072 SF
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA, 4 x 1BR/1BA waterfront, 3 x 1BR/1BA water view, 28 x 1BR/1BA, 8 x eff
Multifamily Units
45
Taxes and HOA fees
Annual Taxes
$79,688
Listing Agency:
JOSH REALTY, INC.
Listed By:
Cheriyan Chacko · License #675786
(954) 445-0408
Source:
Exprealty
Added: Sep 24
Changed: Oct 19
Last Checked: Oct 19 at 2:21PM
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 JOSH REALTY, INC.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 21,072-square-foot apartment property contains 45 units: 2 two-bedroom, one-bath apartments; 4 one-bedroom, one-bath waterfront units; 3 one-bedroom, one-bath units with water views; 28 additional one-bedroom, one-bath apartments; and 8 efficiencies. A metal roof serves the building.
Updates have been completed in 65% of the units, including newer kitchen counters and cabinets, air conditioning, and tile. The property is fully occupied and has a waiting list. Long-term tenants are in place, and the on-site property manager may remain under new ownership.
Updates have been completed in 65% of the units, including newer kitchen counters and cabinets, air conditioning, and tile. The property is fully occupied and has a waiting list. Long-term tenants are in place, and the on-site property manager may remain under new ownership.
Key Highlights
- 45 apartments across five configurations, including 8 efficiencies
- 21,072 square feet
- Four one‑bedroom units are waterfront; three additional units have water views
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$176,862
Cap Rate
3.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,537,240
$3.5M
Cap Rate 7%
$2,526,600
$2.5M
Cap Rate 9%
$1,965,133
$2.0M
Market Conditions
NOI Build-Up for 21,072 SF
Gross rent
$341.4K $16.20/SF
− Vacancy
−$19.8K −$0.94/SF
EGI
$321.6K $15.26/SF
− OpEx
−$144.7K −$6.87/SF
NOI
$176.9K $8.39/SF
Area
Highlands County, FL
Vacancy
5.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,537,240
Cap Rate 7%
$2,526,600
Cap Rate 9%
$1,965,133
Alternative Uses
Best Use
Apartment 5plus
$2.53M
$2.21M – $2.95M
NOI $176,862 @ 7.0% cap · market cap 3.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.38M
$3.84M – $5.11M
NOI $306,876 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
45
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
470
Businesses Nearby
Explore this area
Business Placement
Demographics for 33870, FL
24,238
Population
13,933
Households
1.7
Avg Household Size
51
Median Age
18%
College-Educated
84%
High-School Grad
95.3 sq mi
ZIP Area
254
Density / Sq Mi
$50,606
Median Household Income
$28,475
Median Earnings
$977
Median Rent
$154,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - The fully occupied property has a waiting list, with updates completed in 65% of the units.
Where is this apartment building located?
The property is located at 3012 State Road 17 N Sebring, FL.
What is the asking price?
The asking price for this property is $4,995,000.
What are key features of this property?
This property features: 45 apartments across five configurations, including 8 efficiencies; 21,072 square feet; Four one‑bedroom units are waterfront; three additional units have water views
