4520 S Biscayne Dr North Port, FL 34287
- Apartment buildings
- 2,940 SF
- 7.78 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 4520 S Biscayne Dr
- Year built
- 2008
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 7.78 lot acres
- Property size
- 2,940 SF
- Zone code
- RMF
- Property type
- Apartment buildings
- APN
- 0996-00-2904
- APU
- 996002904
Description
This exceptional 28-unit luxury apartment complex in North Port, Florida, presents a compelling investment opportunity. Boasting a 99% occupancy rate and a 5.68% cap rate, this Class B property offers significant potential for return. The complex, built in 2008, comprises eight buildings situated on a 7.78-acre lot with two secure entrances. Each of the 28 units features 1,852 square feet of living space, including three bedrooms and two bathrooms, a detached oversized single-car garage, and hurricane-resistant windows and doors (130 mph wind rating). Recent upgrades include new metal roofs (installed 12/21/2022) with a 10-year installation and 25-year material warranty. Amenities include a large community pool and a 3,600-square-foot recreation building with a wet bar. The property is equipped with public water and sewer, and infrastructure is in place for future expansion, with underground utilities for an additional 13 lots and 78 condo units. High-end finishes such as granite countertops, stainless steel sinks, GE appliances, and tankless water heaters are standard. The property is offered at $12,750,000 and is zoned RMF-RESIDENTIAL MULTI-FAMILY. Seller financing is available. This is a net lease investment.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- North Port
- County
- Sarasota
- State
- Florida
- Longitude
- -82.2466
- Latitude
- 27.0523
- CBSA code
- 35840
- CBSA name
- NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA
