Renovated 16-Unit Apartment
For Sale
Contact for pricing
475 UMATILLA BLVD, Umatilla, FL 32784
Remodeled interiors, in-unit laundry, and updated building systems support flexible rental operations.
Property Size10,080 SF
Days on Market125
Property Features for 475 UMATILLA BLVD
General Information
Standard status
Active
Size
10,080 SF
Property subtype
Quadruplex
Property Condition
Severity
Repairs Needed
Evidence
minimal deferred maintenance
Units
Unit Mix
4 x 2BR/1BA, 11 x 1BR/1BA, 1 x studio
Multifamily Units
16
Taxes and HOA fees
Annual Taxes
$21,242
Amenities
in-unit laundry
Building Details
Building Size
10,080 SF
Year Built
1930
Listing Agency:
LPT REALTY, LLC
Listed By:
Victor Avila · License #3372973
(407) 962-5738
Source:
Thefullerproperties
Added: Jun 13
Changed: Oct 13
Last Checked: Oct 15 at 6:03AM
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 LPT REALTY, LLC
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Investment Insights
Based on property information with market context.
Located at 475 Umatilla Blvd in Umatilla, Florida, this 16-unit apartment property combines remodeled interiors with substantial system upgrades. The unit mix includes 4 two-bedroom/one-bath apartments, 11 one-bedroom/one-bath apartments, and 1 studio. Each unit includes in-unit laundry, while on-site parking serves the property’s residents.
Capital improvements include updated electrical systems, newer HVAC units, and upgraded water heaters. Built in 1930, the property is described as suitable for both short-term and long-term rental strategies, providing operational flexibility for ownership. The existing configuration and completed improvements offer a defined multifamily layout without relying on additional construction.
Capital improvements include updated electrical systems, newer HVAC units, and upgraded water heaters. Built in 1930, the property is described as suitable for both short-term and long-term rental strategies, providing operational flexibility for ownership. The existing configuration and completed improvements offer a defined multifamily layout without relying on additional construction.
Key Highlights
- 16‑unit apartment property with 4 two‑bedroom/one‑bath, 11 one‑bedroom/one‑bath, and 1 studio unit
- Every unit has been remodeled on the interior
- In‑unit laundry included in every apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$123,785
Cap Rate
6.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,475,700
$2.5M
Cap Rate 7%
$1,768,357
$1.8M
Cap Rate 9%
$1,375,389
$1.4M
Market Conditions
NOI Build-Up for 10,080 SF
Gross rent
$240.7K $23.88/SF
− Vacancy
−$15.6K −$1.55/SF
EGI
$225.1K $22.33/SF
− OpEx
−$101.3K −$10.05/SF
NOI
$123.8K $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%
$2,475,700
Cap Rate 7%
$1,768,357
Cap Rate 9%
$1,375,389
Alternative Uses
Best Use
Apartment 5plus
$1.77M
$1.55M – $2.06M
NOI $123,785 @ 7.0% cap · market cap 6.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.87M
$2.51M – $3.35M
NOI $200,794 @ 7.0% cap · market cap 10.85%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
340
Businesses Nearby
Explore this area
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
Check the figures for this property
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?
Apartment building - Remodeled interiors, in-unit laundry, and updated building systems support flexible rental operations.
Where is this apartment building located?
The property is located at 475 UMATILLA BLVD Umatilla, FL.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 16‑unit apartment property with 4 two‑bedroom/one‑bath, 11 one‑bedroom/one‑bath, and 1 studio unit; Every unit has been remodeled on the interior; In‑unit laundry included in every apartment
