706 Dixie Ave Leesburg, FL 34748
- Apartment buildings
Current Use by Public Records
- Apartment buildings
Property Details for 706 Dixie Ave
- Year built
- 1969
- Property type
- Apartment buildings
Description
This exceptional multifamily investment opportunity presents 19 units within Parkside Condos, located at 706 W Dixie Ave, Leesburg, FL 34748. The property consists of two, two-story buildings totaling 19 units: seven one-bedroom/one-bathroom units, ten two-bedroom/one-bathroom units, and two two-bedroom/one-bathroom townhouses. Built in 1969 and renovated in 2018, the property boasts 100% occupancy, generating a strong net operating income (NOI) of $172,000, resulting in a 7.00% cap rate. Offered at $2,475,000 ($130,000 per unit), this value-add investment presents significant upside potential. The property benefits from its prime location across from Venetian Gardens and includes a new roof installed in 2017. Importantly, this offering includes 63% ownership of the property, granting complete control of the Homeowners Association (HOA), allowing for full management and operational control. Each unit is separately parceled as a condo. This presents a unique opportunity to acquire a well-maintained, high-occupancy apartment building with significant potential for future growth and returns. The property is situated in Lake County, Florida.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Leesburg
- County
- Lake
- State
- Florida
- Longitude
- -81.8787
- Latitude
- 28.8068
