Turnkey Renovated Apartment
475 UMATILLA Boulevard Umatilla, FL 32784
For Sale
$1,850,000
MULTI_FAMILY - UMATILLA, FL
Property Size10,080 SF
Lot Size0.53 Acres
Price / SF$183.53
Days on Market48
Property Features for 475 UMATILLA Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
C
Exterior features
Sidewalk
Standard status
Active
APN
12-18-26-0600-024-01800
Size
10,080 SF
Lot size
0.53 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
UMATILLA, NORTH UMATILLA LOTS 18 TO 24 INCL BLK 24 PB 6 PGS 35-37 ORB 2439 PG 1247
Tax Annual Amount
21242
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1930
Number of units
16
Building materials
Block
Roof type
Shake
Listing Agency:
LPT REALTY, LLC
(877) 366-2213
Listed By:
Victor Avila · License #3372973
(407) 962-5738
Added: Jun 12
Changed: Jul 28
Last Checked: Jul 29 at 2:06PM
MLS# S5151887
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully renovated multifamily property includes 16 units configured as four two-bedroom/two-bath units, eleven one-bedroom/one-bath units, and one studio unit. Interior renovations are documented for every unit, and each unit includes the convenience of in-unit laundry. The property also lists upgraded electrical systems, newer HVAC units, and upgraded water heaters, supporting a turnkey ownership profile.
The offering is located at 475 Umatilla Boulevard in Umatilla, Florida. The property sits on approximately 0.53 acres and provides ample on-site parking. Public remarks also indicate it is currently 100% occupied with long-term tenants.
The asset is described as zoned and suitable for both short-term and long-term rental strategies, with all units remodeled and capital improvements completed.
The offering is located at 475 Umatilla Boulevard in Umatilla, Florida. The property sits on approximately 0.53 acres and provides ample on-site parking. Public remarks also indicate it is currently 100% occupied with long-term tenants.
The asset is described as zoned and suitable for both short-term and long-term rental strategies, with all units remodeled and capital improvements completed.
Key Highlights
- 9.5% cap rate multifamily currently 100% occupied with long‑term tenants
- 16 total units: four 2BD/1BA, eleven 1BD/1BA, and one studio unit
- Fully renovated interiors with in‑unit laundry in every unit
Financial Insights For Apartment 5plus
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 | $240.7k | $23.88 |
| − Vacancy | −$15.6k | −$1.55 |
| EGI | $225.1k | $22.33 |
| − OpEx | −$101.3k | −$10.05 |
| NOI | $123.8k | $12.28 |
10,080 SF · lease $23.88/SF/yr · vacancy 6.50% · expense 45.00%
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.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated 16-unit multifamily property with in-unit laundry, updated HVAC, electrical, and water heaters.
Where is this apartment building located?
The property is located at 475 UMATILLA Boulevard 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: 9.5% cap rate multifamily currently 100% occupied with long‑term tenants; 16 total units: four 2BD/1BA, eleven 1BD/1BA, and one studio unit; Fully renovated interiors with in‑unit laundry in every unit
