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    1154 1St St Crystal River, FL 34429

    For Sale
    $600,000

    5-Unit Apartment Building, High ROI

    Property size:
    3,552 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional investment opportunity presents a fully tenanted, five-unit apartment building situated in Crystal River, Florida. The property consists of two one-story buildings, totaling 3,552 square feet on a 1.04-acre lot. Building one houses three units, while building two contains two units; all units are spacious two-bedroom, one-bathroom apartments. Currently, all five units are occupied, generating a strong and immediate cash flow. The property boasts a 6.41% cap rate and a net operating income (NOI) of $38,460, with a total annual expense of $18,894 (including management fees). The asking price is $600,000, or $120,000 per unit, representing a price per square foot of $168.92. The property is zoned R1 and R2, offering potential for expansion and increased income generation through the addition of up to three more units. Built in 1971, this Class C multifamily property presents a compelling owner-user investment opportunity in a desirable Florida location. The property's strong occupancy rate and potential for future growth make it an attractive addition to any investment portfolio. This is a rare opportunity to acquire a stable, income-producing asset in a growing market.

    Property Features for 1154 1St St

    General Information

    Property type
    Multifamily properties
    Square Feet
    3,552 SF
    Class
    C
    Lot Size
    45,302 SF

    Building Details

    Year Built
    1971
    Buildings
    2
    Stories
    1
    Units
    5

    HighLights

    • $600,000 asking price for a five‑unit apartment building in Crystal River, FL.
    • 6.41% cap rate with a $38,460 NOI.
    • 3,552 square feet on a 1.04‑acre lot.
    • Five units, two buildings, each unit featuring two bedrooms and one bathroom.
    • Currently fully occupied, generating immediate cash flow.
    • R1 and R2 zoning allows for potential expansion.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Crystal River
    County
    Citrus
    State
    Florida
    Longitude
    -82.572315879235
    Latitude
    28.895811276738

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    FAQs

    What type of property is this?
    Multifamily property - 5-Unit Apartment Building, High ROI
    Where is this multifamily property located?
    The property is located at 1154 1St St Crystal River, FL.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: $600,000 asking price for a five-unit apartment building in Crystal River, FL.; 6.41% cap rate with a $38,460 NOI.; 3,552 square feet on a 1.04-acre lot.
    Request Owner's contact information
    1154 1St St Crystal River, FL 34429
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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
    1154 1St St Crystal River, FL 34429
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