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    14725 1St St Okeechobee, FL 34972

    For Sale
    $1,649,900

    17-Unit Multifamily Property in Florida

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional 17-unit multifamily property presents a compelling investment opportunity in the tranquil town of Okeechobee, Florida. Located at 14725 NW 1st Street, 34972, this single-story, 1966-built complex offers significant potential for income generation and growth. The property boasts a total of 17 units, providing a substantial rental base. Beyond the core multifamily units, the property encompasses a remarkable 4 acres of land, further enhancing its value and versatility. This expansive acreage includes 11 boat docks, 2 acres dedicated to recreational activities, complete with picnic tables, and ample parking. Additional amenities cater to residents and guests alike, featuring public bathrooms with showers, boat ramps, outdoor grills, and a designated WIFI area. Further adding to the income potential are three houses and eleven RVs included in the sale, along with three additional RV spaces available for rental. This unique combination of residential units and recreational amenities creates a highly attractive and potentially lucrative investment opportunity in a desirable Florida location. The property's established infrastructure and existing rental income stream provide a solid foundation for future growth and profitability. This is a rare chance to acquire a well-established, income-producing property with significant upside potential in a peaceful, small-town setting.

    Property Features for 14725 1St St

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1966
    Stories
    1
    Units
    17

    HighLights

    • 17‑unit multifamily property in Okeechobee, FL.
    • Located at 14725 NW 1st Street, 34972.
    • Single‑story building, constructed in 1966.
    • 4‑acre lot with 11 boat docks.
    • Includes 3 houses and 11 RVs, plus 3 additional RV spaces.
    • Recreational amenities include picnic tables, public bathrooms with showers, boat ramps, grills, and a WIFI area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Clothing Store Hotel & Motel Accounting Firm Storage Facility Bed & Breakfast

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Okeechobee
    County
    Okeechobee
    State
    Florida
    Longitude
    -80.9799628
    Latitude
    27.2448526

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    FAQs

    What type of property is this?
    Multifamily property - 17-Unit Multifamily Property in Florida
    Where is this multifamily property located?
    The property is located at 14725 1St St Okeechobee, FL.
    What is the asking price?
    The asking price for this property is $1,649,900.
    What are key features of this property?
    This property features: 17-unit multifamily property in Okeechobee, FL.; Located at 14725 NW 1st Street, 34972.; Single-story building, constructed in 1966.
    Request Owner's contact information
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    Okeechobee, FL 34972
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    14725 1St St Okeechobee, FL 34972
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