13 Dakin Ave Kissimmee, FL 34741

Property Details for 13 Dakin Ave

Year built

1952

Property size

3,370 SF

Property type

Commercial real estate

Description

This exceptional 12-unit apartment building presents a compelling investment opportunity in the heart of historic downtown Kissimmee, Florida. The property, located at 13 W Dakin Ave, boasts a prime location just 0.2 miles from the Kissimmee train station and surrounded by a vibrant mix of retail, restaurants, and entertainment venues. Built in 1952 and fully renovated in 2022, this 3,370 square foot building sits on a 4,356 square foot lot and offers 100% occupancy with month-to-month leases, generating a substantial net operating income (NOI) of $100,000 and an 8.40% cap rate. The asking price is $1,190,000, translating to $99,167 per unit and $353.12 per square foot. The property includes 12 keys and features new furniture in all units, a new roof, and a new AC system. Two additional offices are also available, one currently occupied by the superintendent, offering potential for extra rental income or personal use. The property is zoned for multi-family use, ensuring its continued viability as a rental property. This turnkey investment offers a blend of strong current income and significant future potential in a rapidly growing area. The property's recent renovations minimize maintenance needs, maximizing return on investment. This is a rare opportunity to acquire a fully occupied, high-performing multifamily asset in a desirable location.