371 Broad St Brooksville, FL 34604-7310

This exceptional 16-unit apartment building in Brooksville, Florida, presents a compelling investment opportunity. Located in the Masaryktown community, this property boasts three buildings constructed in 1947 and 1981, totaling 5,568 square feet of net rentable space. The property features recently renovated units with new vinyl plank flooring, countertops, and appliances, reflecting over $100,000 in recent capital improvements. Concrete block construction ensures durability. Currently generating a NOI of $84,469 and a 6.76% cap rate, a pro-forma NOI of $110,391 and an 8.35% pro-forma cap rate are projected, representing a significant increase in effective gross income. The property enjoys a highly visible location on US-41, a major thoroughfare with high daily traffic volume. Its proximity to amenities such as restaurants, Dollar General, and Publix, along with its convenient location near Downtown Brooksville and Tampa, enhances its appeal. The average household income within a two-mile radius is $103,299, indicating a strong tenant base. This turnkey investment offers a rare opportunity to acquire a well-maintained multifamily property in a growing market, with a price per unit of $78,125 and an asking price of $1,250,000. The property's APN is R36-223-18-2690-0200-0060.