1020 Makowski Rd Wauchula, FL 33873
- Commercial real estate
- 128,262 SF
Current Use by Public Records
- Commercial real estate
Property Details for 1020 Makowski Rd
- Property size
- 128,262 SF
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a portfolio of three multifamily apartment communities totaling 125 units across central Florida. Strategically located in Wauchula, Palatka, and Hastings, these properties boast a combined 128,262 square feet of net rentable space housed within 23 buildings, ranging from one to two stories. Construction dates span from 1971 to 1973, featuring durable concrete slab foundations, brick exteriors, and pitched roofs. The properties sit on substantial land parcels, with 4.0 acres in Wauchula, 3.79 acres in Palatka, and 1.57 acres in Hastings. A significant advantage is the existing Section 8 subsidy contracts covering 115 (92%) of the units, providing stable income and strong cash flow. The properties have consistently achieved high REAC scores, exceeding 80, demonstrating excellent operational efficiency and maintenance. While Mellon Manor and Hastings Apartments (located 13 miles apart in Putnam and St. Johns Counties) must be sold together, Wauchula Gardens is available for separate purchase. This portfolio benefits from Florida's robust affordable housing market, further enhanced by recent legislative initiatives like the Live Local Act (SB 102), allocating substantial funds for affordable housing preservation and development. This presents a compelling investment opportunity with significant potential for long-term growth and return.
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
- Wauchula
- County
- Hardee
- State
- Florida
- Longitude
- -81.811317
- Latitude
- 27.5340918
