1501 Montana Ave St. Cloud, FL 34769

This fee-simple owned, 3-unit apartment building in St. Cloud, Florida presents a compelling investment opportunity. Located at 1501 Montana Ave, this 2-story, 1984-built Class C property boasts a total of 4,326 square feet, with 3,338 square feet of net rentable space. The property sits on a 0.34-acre lot and features three units: two with three bedrooms and one bathroom, and one with three bedrooms and two bathrooms. Each unit is separately metered for utilities. Currently operating at 100% occupancy (as of May 1, 2024), the property generates a Net Operating Income (NOI) of $41,692, with a projected NOI of $56,400. The asking price is $799,000, representing a current cap rate of 5.22% and a pro-forma cap rate of 7.06%. The price per unit is $266,333.33, and the price per square foot is $191.86. The property is subject to a ground lease and offers two parking spaces per unit. Zoned SR3, this centrally located triplex benefits from its desirable location and features a professionally managed structure with all leases currently one-year terms. Two of the three tenants are long-term residents. All information is based on provided data